Common Reasons Your IRS Installment Agreement Will Default

M&M Financial negotiates tax debt resolutions for struggling taxpayers nationwide. You can reach us at (866) 487-5624 for real solutions to your tax debt.

Find more information about resolving your tax debt on our website

Find more information about resolving your tax debt on our website

IRS Installment Agreements (IAs) are commonly difficult to secure, for both individuals and businesses. So if you have one, make sure it doesn’t default. A second or third IA will more often than not be more difficult to obtain. The IRS isn’t as likely to trust a delinquent taxpayer a second time with a monthly payment plan, especially if new tax liabilities have been accrued. Below are a few common reasons IRS Installment Agreements default. Continue reading

Tax Debt Relief Tips – South Dakota Revenue & Regulation

M&M Financial helps struggling taxpayers resolve IRS and South Dakota Revenue & Regulation liabilities. Call (866) 487-5624 to discover your options.

If you owe the South Dakota Revenue & Regulation, the following information may be of use to you.

• SD Revenue & Regulation will accept an Offer in Compromise only in extreme cases.
• SD Revenue & Regulation Installment Agreements for past due sales tax are generally set up to last 6 – 24 months.

M&M Financial assists both businesses and individuals resolve their tax debts with both the IRS and State taxing authorities, including the South Dakota Revenue & Regulation.

Tel: (866) 487-5624
Email: info@mmfinancial.org
Web: mmfinancial.org

Tax Debt Relief Tips – South Carolina DOR

M&M Financial helps struggling taxpayers resolve IRS and South Carolina Department of Revenue liabilities. Call (866) 487-5624 to discover your options.

If you owe the South Carolina Department of Revenue, the following information may be of use to you.

• South Carolina DOR does have a formal Offer in Compromise (OIC) program to resolve back tax debt. Generally, you must submit 10% of the offered amount with your OIC.
• SC-DOR Installment Agreements generally require a 10% down payment and come with a fee of $45 to set it up. Use form FS-102 to request your IA.
• An important to item to remember before setting up your SC-DOR IA is that a tax lien will most likely be filed with your IA approval. The tax lien will negatively affect your credit score.
• A request for waiver of penalties may be requested in writing. SC DOR may abate penalties if taxpayer qualifies under the DOR’s waiver guidelines – similar to that of IRS guidelines

M&M Financial assists both businesses and individuals resolve their tax debts with both the IRS and State taxing authorities, including the South Carolina DOR. Take a look at some of M&M’s South Carolina client case examples near you.

Tel: (866) 487-5624
Email: info@mmfinancial.org
Web: mmfinancial.org 

Tax Debt Relief Tips – Rhode Island Division of Taxation

M&M Financial helps struggling taxpayers resolve IRS and Rhode Island Division of Taxation liabilities. Call (866) 487-5624 to discover your options.

If you owe the Rhode Island Division of Taxation, the following information may be of use to you.

• Rhode Island DOT does have a formal Offer in Compromise program to resolve back tax debt.
• RI-DOT Installment Agreements (IA) generally require a completed financial statement form, RI 433-A for individuals and RI 433-B for businesses. RI-DOT also has an IA request form and it is recommended that you send in your first payment with your request.

M&M Financial assists both businesses and individuals resolve their tax debts with both the IRS and State taxing authorities, including the Rhode Island DOT.

Tel: (866) 487-5624
Email: info@mmfinancial.org
Web: mmfinancial.org

Tax Debt Relief Tips – How Can I Stop an IRS Tax Levy?

M&M Financial provides IRS and State tax levy release services to beleaguered taxpayers from coast to coast. Call us today at (866) 487-5624 for your free, confidential consultation.

The best way to prevent an IRS bank account levy is to be proactive when faced with a tax liability. At M&M Financial, we preach the essentials of timeliness and participation to our clients, as the Service will set a series of deadlines for a delinquent taxpayer (or the taxpayer’s representative) for required documentation to be provided. For a business owner who misses a deadline, the Service may retaliate by issuing a bank account levy or an accounts receivable levy to get said owner’s attention. An individual taxpayer should also be wary of a wage garnishment sent to his/her employer. Why such a harsh tactic? Because levies work. And the IRS knows it. Continue reading

Tax Collection Financial Standards

M&M Financial provide tax liability resolution and relief to struggling taxpayers from coast to coast. Call (866) 487-5624 for straight talk about your tax debt.

Find more tax debt relief information on our website

Find more tax debt relief information on our website

If you owe back taxes to the IRS and can’t pay your debt in a lump sum full payment, chances are you will have to provide some financial information to the Service in order to resolve your tax liability. The IRS will use your monthly income and expenses to determine your ability to pay monthly. If you are an individual with an IRS tax debt and submit your personal financial information to the Service for review, you may be surprised at how much your numbers differ from their numbers. In most cases that I’ve seen, the IRS comes up with a much higher ability to pay than the taxpayer. Continue reading

Tax Debt Relief Tips – Pennsylvania DOR

M&M Financial helps struggling taxpayers resolve IRS and Pennsylvania Department of Revenue liabilities. Call (866) 487-5624 to discover your options.

If you owe the Pennsylvania Department of Revenue, the following information may be of use to you.

• Pennsylvania DOR does have a formal Offer in Compromise (OIC) program to resolve back tax debt. However, the OIC will only be considered for Doubt Regarding Liability and Effective Tax Administration.
• PA-DOR Installment Agreements (IA) are set up according to a few general guidelines.
• Business IAs
o If the total liability is $15,000 or less, OR payments will be completed within twelve months – financial statements are likely NOT necessary.
o If the total liability is greater than $15,000 or payments will not be completed within twelve months, financial statements are likely required.
o Active Business – Minimum 20% down payment and maximum 24 month term. May need loan denial before IA approval.
o Dissolved Business / Inactive Business – minimum 10% down payment and maximum 48 month term. May need loan denial before IA approval.
• Individual IAs
o Recommended down payment is 20%
o Individual guidelines below
Amount Plan Guidelines Term Limits
$0 – $999 No lien filed,
No financial statement 7 months to 1 year
$1000 – $2499 Lien after 1 default,
No financial statement 7 months to 2 years
$2500 – $4999 Lien after 1 default,
Financial statement required 7 months to 2 years
$5000 and up Lien after 1 default,
Financial statement required 7 months to greater than 2 years
• Unfortunately, a request for waiver of penalties from the PA-DOR will be nearly impossible to get approved, unless the PA-DOR was at fault.

M&M Financial assists both businesses and individuals resolve their tax debts with both the IRS and State taxing authorities, including the Pennsylvania DOR. Take a look at some of M&M’s Pennsylvania client case examples near you.

Tel: (866) 487-5624
Email: info@mmfinancial.org
Web: mmfinancial.org

Tax Debt Help Elizabethtown, PA 17022

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click to see more M&M tax resolutions in Pennsylvania

M&M Financial helps struggling taxpayers nationwide resolve IRS and State tax debts. Contact M&M today to find out how we can help you put your tax troubles behind you for good.

It seems like every tax resolution firm from Boston to Boise dangles the same familiar carrot in front of desperate taxpayers: The Offer in Compromise (OIC). Generally speaking, “offer mill” firms that push the “pennies on the dollar” OIC above other resolution strategies are not to be trusted. Why? Because OICs aren’t an option for every delinquent taxpayer and they know it.

At M&M, however, we’ll only explore the OIC solution if it is a feasible option for your specific case. For example, a PA auto body shop owner began accruing State sales tax liabilities shortly after his father died. The older man had been responsible for paying the business’ taxes, and the shop fell into disarray for several months as the result of his sudden death. His son wisely hired M&M after responding positively to phone call from one of our knowledgeable representatives.

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