There is not much more the Internal Revenue Service can do to unnerve a taxpayer than levy his or her property. A levy by the IRS permits it to legally seize the property of a taxpayer to satisfy a tax debt. The IRS may use a levy to garnish wages, take money in a...
Tax Delinquency
WHAT HAPPENS DURING THE OFFER IN COMPROMISE PROCESS?
Once a taxpayer successfully submits an Offer in Compromise (OIC) application to the IRS, certain events occur as the IRS considers whether to accept the OIC. Offer in compromise applications typically require specific IRS forms and substantial paperwork to document...