You have a balance due on your tax account, which you agree that you owe the IRS, but you cannot pay the balance owing due to your current financial situation. If the IRS agrees that you cannot pay both your taxes and your reasonable living expenses, the IRS may place your tax account in currently not collectible (CNC) status.

Due process requires that matters be resolved according to established rules and principles and that taxpayers be treated fairly. The international information return (IIR) penalty regime under IRC Chapter 61, Subchapter A, Part III, Subpart A does not adhere to this fundamental mandate. Now is the time for Congress to fix this broken system by providing a clear path for implementation of these penalties. This fix, which would provide much-needed clarity and finality, will require legislation.

If you are unable to pay your taxes in full, the IRS has several options that you can consider based on your financial situation.

Collegiate athletics is a competitive and popular multibillion dollar business industry. With television rights deals, conference realignment, recruitment, and much more, collegiate athletics garner significant media coverage. One topic receiving significant recent attention is the area of Name, Image, and Likeness (NIL) agreements, which allow student-athletes to financially benefit from their NIL. Because of the growing influence of student-athletes as celebrities in social media and their communities, the attention surrounding NIL is not surprising. NIL opportunities have provided new revenue sources for student-athletes that, in some instances, may reach significant sums according to some media outlet rankings of the highest estimated financial value of student-athlete NIL agreements. Due to the potential tax consequences, student-athletes should exercise appropriate due diligence before entering into NIL agreements. It is crucial to follow relevant IRS guidance on how to report and pay taxes on NIL income.

A paid tax return preparer is an individual hired by a taxpayer to prepare the taxpayer’s federal tax return or claim for refund. Every year, tens of millions of taxpayers pay someone to prepare their federal tax return.

If you can’t pay your tax debt in full, or if paying it all will create a financial hardship for you, an offer in compromise (OIC) may be an option. o Doubt As to Liability (DATL) o Doubt As to Collectability (DATC) o Effective Tax Administration (ETA)

Millions may qualify for refunds on COVID-era penalties and interest. Learn how to read an IRS account transcript to help identify potential refund and abatement eligibility before the July 10, 2026 deadline.

In the current digital asset climate of plummeting values, frozen accounts, and bankruptcy filings, if you own investments in digital assets, such as virtual currency, cryptocurrency and/or non-fungible tokens (NFTs), you might wonder when it is appropriate to report losses on your tax return.

Installment agreements are one of your options if you can’t pay your taxes in full when they’re due. These agreements are payment plans that that allow you to pay your debt over a time you establish with the IRS. You must stay current with monthly payments, timely file your tax returns, and make estimated tax payments. Future refunds will be applied to unpaid taxes until the tax balance is paid in full.

If you have determined you do not quality for an Employee Retention Credit (ERC) you claimed, the IRS has provided guidance on whether you can withdraw your claim, and if so, how to withdraw your claim.

Taxpayers and congressional offices in the San Jose geographic area now serviced out of the Oakland, CA office.

The IRS mails the Notice of Intent to Levy and Rights to a Hearing to notify taxpayers of their unpaid taxes and the IRS intention to levy to collect the amount owed if the balance is not paid. This letter, which is usually sent by a Revenue Officer, is required by IRC § 6331 before the IRS issues a levy, unless collection is in jeopardy. Taxpayers are generally entitled to a pre-levy hearing under IRC § 6330(f), although there are some exceptions. These exceptions include: if the levied source is a state tax refund, the IRS has issued a disqualified employment tax levy, or the tax debt is that of a federal contractor. For further information, see Publication 594.

Imagine you live in a county that has been so severely battered by storms or wildfires that the federal government has included your county in a disaster declaration.  Imagine that the IRS grants you an extra four or six months to file your tax return and make your tax payment.  Then imagine you file your return early but properly decide to hold off on making payment until the postponed deadline.  That is what an estimated one million taxpayers living in California and seven other states (Alabama, Arkansas, Florida, Georgia, Indiana, Mississippi, and Tennessee) have done in the last few months.  To their surprise and dismay – and contrary to IRS guidance and press releases – those taxpayers are now receiving “notice and demand” collection letters from the IRS telling them their payments are currently due and the IRS will begin to charge interest and penalties if the taxpayer doesn’t pay by a specified date on the notice that is months earlier than IRS guidance permits.  Confused taxpayers and practitioners are wondering why they are receiving a balance due notice since they live in a disaster relief area and had months of additional time to pay.

Taxpayers need not do anything to receive this administrative relief. The IRS is automatically removing (abating) failure-to-file penalties for 2019 and 2020 returns. If a taxpayer paid the penalty and the account is full paid, the resulting overpayment will first be used to offset other liabilities and the balance will be refunded.