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Offer In Compromise

Babbitt Tax Law > Offer In Compromise

If You Missed The Tax Filing Deadline, You Have Options To Consider

The end of tax season was officially April 18, 2022, which means the IRS is diving into enforcement mode and catching up on notices. What should you do, and what should you expect if you missed the filing deadline? The Good news is that there is no penalty for filing a late return after the tax deadline if a refund is due. However keep in mind If you didn’t file and you owe taxes, you definitely will want to file a return as soon as you can and pay as much as possible to reduce penalties and interest. Now, if you have...

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What Is The Fresh Start Initiative?

The IRS Fresh Start Program encompasses all of the options discussed in our previous article, "Can The IRS Debt Forgiveness Plan Help Me", but with a few notable differences such as having a federal tax lien withdrawn from you provided you are seeking relief under this program just to name a few. Much like the IRS Debt Forgiveness Plan, The Fresh Start tax program is designed to be available to everyone. With so many different options, it's likely that you'll find one that's right for you. However, the complexity of the program means that you'll need to work with a tax...

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Do You Qualify for an IRS Offer in Compromise in Bonita Springs, Florida?

Offer in Compromise OIC IRS Tax attorney Todd Babbit Babbit Tax law Bonita Springs FL

If you owe back or current taxes, you are unable to pay to the IRS it would be wise to work with a qualified tax attorney who can help you navigate and negotiate with them. Tax law changes frequently and with thousands of pages of tax code trying to do it yourself can be a stressful nightmare. The last thing you want to do is make a mistake that can cost you. What is an Offer in Compromise? Just as the name implies it’s a legal way to bargain with the IRS. An offer in compromise (OIC) is an agreement between you, the...

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