- CheapTaxSolutions

15 days ago

Is Your Tax Resolution “Help” Just a Timeshare in

If you&rsquo;ve made it this far, you probably already know a few key truths:
Tax resolution outcomes are dictated by IRS policies and procedures. There&rsquo;s no &ldquo;magic button.&rdquo; No special loophole. And no company&mdash;no matter how slick the website or how aggressive the salesperson&mdash;can do anything the IRS wouldn&rsquo;t allow you to do for yourself.
In most situations, if you owe back taxes or have a few missing returns, the best place to start is with a reputable tax preparer. For example, mine charges around $160 per return. Once those returns are filed, your resolution options are straightforward and based on your actual ability to pay&mdash;not marketing claims. They include:
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Currently Not Collectible (CNC) status
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Offer in Compromise (OIC)
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Standard Installment Agreement
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Partial Pay Agreement
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Hardship Extension
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And yes, the IRS will ask for proof. Honesty matters here&mdash;exaggerating hardship can lead to bigger problems.
So why are some people paying $7,000, $10,000, even $15,000+ for &ldquo;resolution services&rdquo;?

12 days ago

Ghosting the IRS? Here’s What Happens (And Why It’

So you owe the IRS and think ignoring it will make it go away?
Bad idea. Here&rsquo;s what happens if you ghost them:
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<h3>💣 The Breakdown:</h3>
Let&rsquo;s say you owe $50,000 in taxes and just&hellip; disappear.
Over the next 5 years, here&rsquo;s what stacks up:
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Failure to File Penalty: +25%
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Failure to Pay Penalty: +25%
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Daily Interest (~8%): Compounded on top of tax and penalties
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Interest on Penalties: Yep, it&rsquo;s compound pain
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</ul>
📈 Your $50K ballooned into $95K&ndash;$100K+ by year 5&mdash;and the IRS hasn&rsquo;t even started levying your bank yet.
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<h3>🧠 What You Should Actually Do:</h3>
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File, even if you can&rsquo;t pay &ndash; it cuts your penalties in half
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Set up a payment plan &ndash; short-term, long-term, or partial
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Consider hardship or Offer in Compromise
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Ask for penalty abatement &ndash; especially if it&rsquo;s your first mess-up
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</ul>
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<h3>🚫 IRS Debt Doesn&rsquo;t &ldquo;Go Away&rdquo;</h3>
The IRS has up to 10 years to collect&mdash;plenty of time to find your paycheck, bank account, or house.
Ghost them, and you&rsquo;re not just running from taxes&mdash;you&rsquo;re compounding them daily.
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