What is an Offers in Compromise?

Share List Owing the IRS money is a stressful situation, especially if you are already under financial pressure. Fortunately, an offers in compromise (OIC) is available under certain situations. An OIC, if accepted by the IRS, will allow you to settle your tax bill by paying less than what you actually owe. Successfully achieving an OIC can be difficult. The …

What is Estate Tax Planning?

Share List While Virginia no longer imposes an estate or inheritance tax, there is still a federal estate tax in place. The federal estate tax is assessed on all of your assets and interests in your possession at the time of your death. The tax can be a serious burden and come at a great cost to your loved ones …

What is an IRS Audit?

Share List The phrase “IRS audit” strikes fear into the hearts of individuals and businesses across the country. The threat of audit looms especially low as we approach tax season. While many people may fear an audit, most may not really understand what an audit is all about. An IRS audit is an examination of an individual’s or organizations accounts …