Knowing how the IRS Collection Division treats pension benefits and retirement savings is an important part of understanding a client’s situation and helping the client plan a course of action to resolve his or her unpaid tax liabilities. Pension benefits and retirement savings often constitute a client’s most valuable assets, and are viewed as a […]

The IRS today announced a very brief extension of the current initiative aimed at facilitating the disclosure of previously hidden offshore accounts. The settlement program was due to expire on September 23rd, but it has now been extended to October 15th, giving taxpayers another three weeks to come forward with information about their previously undisclosed […]

A task frequently faced in representing clients before the IRS Collection Division is negotiating an “installment agreement” — an arrangement under which monthly payments are made, free of the threat of levies and seizures. Despite the IRS’s imposition of a system of miserly national and local expense “standards” in August 1995, there is still room […]