Can the IRS trade taxes owed in a contractual agreement?

Answer A taxpayer can file an offer in compromise, which is a contract with the IRS. This allows the taxpayer to pay less in taxes than originally computed in exchange for clearing up any doubts in collec... Read More »

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Who files taxes owed in a purchase agreement?

In a purchase agreement, the taxes owed are filed by the seller of the product or commodity being sold to the purchaser. Failure to file a statement of taxes owed may result in an investigation fro... Read More »

What is a contractual agreement?

A contractual agreement is an agreement to do something or to return something of value. This agreement is between two or more people. Contractual agreements can include an offer, promise, terms an... Read More »

How to Get Help With Taxes Owed?

The IRS is serious about its enforcement efforts: In tax year 2009, the Internal Revenue Service executed 581 property seizures, filed nearly 1 million tax liens and levied fines on more than 3.4 m... Read More »

When are taxes due if money is owed?

Federal income tax returns for individuals are due on April 15th, whether or not you owe money. Estimated tax payments are due on the 15th of April, June, September and the following January. If th... Read More »