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What else can I help you with?
Is an offer in compromise a good way to settle back taxes?
This can be a great way to settle any back taxes you have. If the IRS is offering this you should consider it.
Where can a person find tips on how to settle back taxes?
There are many sites which one can visit to obtain tips to settle back taxes. Tax Matters Solutions and Back Taxes Help both offer helpful advice one can use to help with their back taxes. Some include paying taxes owed in installments or trying an offer of compromise with the IRS.
What happens to back taxes if the estate has no money?
If they are property taxes, there is a lien on the property. In those cases the property has to be sold to settle the debts. If there are no assets in the estate, the taxes won't get paid.
How long does my sister administrator have to settle my Dad's estate?
There is no mandated time frame. She has to settle the estate, including the debts and inventory of assets, as well as taxes.
How can one settle on their taxes for less than what they owe?
One can settle on their taxes for less than what they owe by proving to the IRS that the total amount owed is incorrect, making the IRS understand that the chances of paying back the amount owed is quite slim.
I owe back taxes on a homestead in Inkster, MI. Are there any programs to help get these taxes paid or abated?
Not really but you can talk to the advocate and see if they will settle for a lump sum payment if you have the cash.
How can I avoid paying all of the business taxes I owe?
It is hard to avoid paying all your taxes but sometimes you can settle it with the government. you can always contact your local IRS office and see what can be done.
Did Shi Huangdi put taxes on people?
Plenty. He put taxes for everything. He even forced nomads to settle down so that he could tax them. He used these taxes on expeditions such as finding the elixir of life that was believed to give immortality. Secondly he used these taxes to do a whole tour of his empire, that included 1thousand men and guards. (sigh) if only I was a king.
What tasks do executors do when settling an estate?
The first duty is to inventory the estate and value it. Then they have to settle all debts and pay all taxes. Then they distribute the remainder.
Is accrued taxes current liabilities?
Yes, accrued taxes are considered current liabilities. They represent taxes that a company owes but has not yet paid, typically due within one year. This classification reflects the obligation to settle these amounts in the near term, aligning with the definition of current liabilities on the balance sheet.
How does an offer in compromise help a person settle tax debt?
An offer in compromise represents the most a person could be expected to pay of what taxes they owe. It allows a person to settle their tax debt with the IRS for less than the full amount they owe.
What is a administrator of the estate?
They are the person charged by the court to execute the will or the intestacy laws for an estate, inventory the estate, settle all debts, pay taxes and distribute the remainder.
