Offer in Compromise to settle your IRS debt is still going strong
Since the 2012 law changes - we are still seeing people take advantage of the new Offer rules - particularly on cases with very large balances - $$$. You can read our series on the Offer in Compromise here: 2012 Offer Rule Changes And if you owe taxes in 2013 - no worries - we can pursue a settlement on those taxes as well as your older years.
Home Office deduction - now $1500 - Safe harbor rule
Due to the headache of the Home office deduction, the IRS made it easier: If you are self-employed you are allowed a $1500 - Safe harbor deduction for home office deduction. No questions asked. You can still use the other method to determine home office. But this should make life easier for all parties. From IRS website
Waiving penalties - still worth doing
If you don't qualify for an Offer, you should still look at getting relief on penalties. BUT - we still recommend that people don't do it UNLESS they have established a pattern of tax compliance, like filing and paying 2013 for starters. More on penalty abatement cases here: Penalty Abatement - index of articles
$250,000 plus debts still require Local IRS agent
The threshold for getting your case assigned to a local IRS agent. Otherwise, if you are below that - in most circumstances, your case will be assigned to ACS - automated collection systems and a 1-800 number.
Tax resolution industry - consolidating - less new national companies
The years 2008 - 2012 were truly the growth years in national tax resolution companies much to our chagrin. However - 2013 - really showed a dramatic drop in new company creation -- much to our delight. We predict that 2014 - will be a year where a lot of these new companies drop off like flies. In fact - without naming names, I think you will see a very big company go away this year.
