IRS offering more flexible terms to its Offer in Compromise (OIC) program that will enable some of the most financially distressed taxpayers to clear up their tax problems and in many cases more quickly than in the past.

IRS announces rules for automatic acceptance of installment agreements for balances up to $50,000 for payment terms of up to 6 years.

IRS is offering to suspend the issuance of a determination letter denying untimely claims for innocent spouse relief. In most cases, it is in the best interest of the taxpayer claiming relief to request that the IRS suspend the issuance of the determination.

In a recently issued Chief Counsel Advice (CCA 200927019), the IRS stated that it can issue a levy on a taxpayer’s health savings account (HSA). What is even more interesting, in such a case, the taxpayer will be liable for a 10% excise tax on an HSA distribution to pay a tax liability, unless the [...]