- Significantly increasing the dollar threshold when liens are generally issued, resulting in fewer tax liens.
- Making it easier for taxpayers to obtain lien withdrawals after paying a tax bill.
- Withdrawing liens in most cases where a taxpayer enters into a Direct Debit Installment Agreement.
- Creating easier access to Installment Agreements for more struggling small businesses.
- Expanding a streamlined Offer in Compromise program to cover more taxpayers.
Hot Topics in the Law and in the News.
Monday, February 28, 2011
Help For Struggling Taxpayers
One of the biggest obstacles for small businesses is dealing with the nearly crushing burden of federal taxes. Often, the business owner ends up filing tax returns late, paying tax obligations late, and incurring terrifying penalties. In an effort to reduce the burden of late payments for individuals and small businesses, the IRS has taken some new steps to help taxpayers get a fresh start. These include:
Posted by Shoffner & Associates at 2:48 PM