Frisco TX – Did You Know That The IRS May Accept a Payment Plan That Won’t Full Pay Your Tax Debt? The Partial Pay Installment Agreement (PPIA)

Did you know that as a taxpayer who owes income taxes to the IRS, you may qualify for a payment plan that if all payments are made, will not completely pay your tax debt within the 10 years that the IRS has to collect income tax debt?  Many taxpayers who come to our...

Frisco TX – Do the Changes Enacted in the Taxpayer’s First Act of 2019 Help You?

Have you heard of the Taxpayer’s First Act, that was passed by Congress on July 1st, 2019? Most of my clients in our Richardson, TX tax office haven’t, but there were some changes made in the Act that benefit taxpayers, and might be worth learning about.   What Is The...

Dallas TX – The Impact of IRS Tax Reform on Deductions for Homeowner’s

The majority of the clients of my Richardson, TX tax firm itemized their deductions prior to the Tax Reform and Jobs Act of 2017 or the TCJA (which primarily took effect in 2018). However, since the TCJA, that number has dropped substantially. As a quick overview,...

Frisco TX – Audit Reconsideration vs a Doubt as to Liability OIC – Which is best when the IRS incorrectly assesses Income Tax

When taxpayer’s come into our Richardson, TX tax office with what they believe is an erroneous tax assessment by the IRS, two options that we commonly use to challenge the underlying tax are Audit Reconsideration and a Doubt-as-to-Liability Offer-In-Compromise.  There...

Frisco TX – When to Contact the IRS Taxpayers Advocates Service

The Taxpayer Advocate Service (TAS) is and independent organization within the IRS that was set up for the purpose to act as a voice for taxpayers.   While the existence of the TAS is not known by most taxpayers, it can be effective means of helping both businesses...

Frisco TX – Getting an IRS Lien Released Withdrawn or Discharged. What’s the Difference?

Many of the Taxpayer’s coming into our Richardson, TX tax office with IRS Debt have a Notice of Federal Tax Lien (NFTL) or are under threat of an NFTL.  As you’ve learned over the past few weeks, the Notice of Federal Tax Lien (NFTL) is a powerful tool of the IRS and...