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When the IRS decides to size your assets they will start by contacting anybody who may be paying you or holding your money; this includes your employer and bank.

In many cases when you get a sales pitch you are talking with a sales person, not a tax attorney or tax resolution specialist who can help you.

Don't bring original documents to the audit. If you do bring originals, do not give them to the agent. Request that the agent make copies and give the originals back to you. Once you hand over your original documents, there's a very good chance that they will be misplaced or lost.

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To settle IRS taxes with an offer in compromise you may want to get the help of a tax professional, CPA, enrolled agent, or somebody else that works in this capacity. This is a tricky situation, and a professional can tell you if applying for an offer in compromise is even worth your time.

you should be ever find yourself in a situation where you cannot afford to pay your tax bill at least you need to file your return.

Debt Relief Act allows taxpayers who qualify to exclude qualified principal residence indebtedness if the balance of the mortgage was less than $2 million. The Act applies to qualified indebtedness on a taxpayer's principal residence.

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