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On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Back Taxes or Tax Debt on Friday, November 8, 2019.

If you owe more in tax debt than you can realistically repay, you should talk to a tax attorney about negotiating an offer in compromise (OIC) with the IRS. An OIC allows you to settle your tax debt for less than the full amount. Getting one approved, however, can be something of a challenge.

Continue reading Could an offer in compromise with the IRS resolve your tax debt? ...

Tags: Back Taxes or Tax Debt , IRS , offers in compromise

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Back Taxes or Tax Debt on Friday, October 25, 2019.

As we've discussed on this blog before, the IRS's enforcement budget has been slashed by a quarter since 2011. That has meant fewer audits and collection activities overall, and it has focused those efforts on working people more than on the wealthy. In 2017, Congress directed the IRS to allow private collection agencies (PCAs) to collect unpaid taxes.

Continue reading IRS will now accept debit card payments through private collectors ...

Tags: Back Taxes or Tax Debt , IRS collections , electronic payments , installment agreements

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Back Taxes or Tax Debt on Tuesday, September 3, 2019.

Many people don't realize that they could lose their passports if they are found to be seriously delinquent in their tax liabilities. This is a relatively new penalty for nonpayment that was created under the 2015 Fixing America's Surface Transportation Act (FAST Act). The Act requires the IRS to certify seriously delinquent debts to the State Department, which will then pull the taxpayer's passport.

Continue reading Too much tax debt and you could lose your passport. Act now. ...

Tags: Back Taxes or Tax Debt , IRS , installment agreements , offers in compromise , passport revocation , penalties

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Back Taxes or Tax Debt on Friday, July 5, 2019.

You owe federal taxes, and you also have a credit card that will pay rewards on anything you use it for. When you run the numbers, are the rewards worth the cost?

Continue reading Does it make sense to pay your tax debt with a credit card? ...

Tags: Back Taxes or Tax Debt , IRS , interest

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Back Taxes or Tax Debt on Thursday, May 2, 2019.

The Internal Revenue Service (IRS) and the Minnesota Department of Revenue recognize that not every taxpayer can pay off their tax bill. For whatever reason, a tax bill may simply be more than the taxpayer can afford. In certain situations, these taxpayers can qualify for an Offer in Compromise.

Continue reading Who is eligible for an Offer in Compromise? ...

Tags: Back Taxes or Tax Debt

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Back Taxes or Tax Debt on Monday, April 29, 2019.

Not every taxpayer in the country made the April 15, 2019 tax filing deadline for their 2018 tax returns. Some were still gathering paperwork and trying to navigate the complex new rules. Those who found themselves in this situation may have filed for an extension.

Continue reading Beware: A tax filing extension can lead to a higher penalty ...

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Back Taxes or Tax Debt on Wednesday, November 7, 2018.

Even Hollywood’s elite find the Internal Revenue Service (IRS) a tough adversary. The most recent to learn this lesson: Hollywood movie star Wesley Snipes.

Continue reading What not to do with an offer in compromise for the IRS ...

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Back Taxes or Tax Debt on Thursday, August 30, 2018.

On jointly filed tax returns, each spouse can be 100 percent responsible for back taxes caused by errors or omissions. The tax issues started when the wife was accused of embezzling almost $500,000 from her employer in 2010 and 2011. After a conviction for theft, she was sentenced to prison.

Continue reading After his wife embezzled funds, the IRS sent him a bill ...

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Back Taxes or Tax Debt on Thursday, August 23, 2018.

Tax obligations can result in serious consequences. Businesses that fall behind in tax obligations can face more than stiff penalties from state and federal agencies, they could face loss of property.

Continue reading Got tax debt? The government could seize your business’ property. ...

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Back Taxes or Tax Debt on Thursday, September 28, 2017.

Tax obligations do not just go away. Fortunately, those who struggle with tax debt have options. One specific option to address a hefty bill with the Internal Revenue Service (IRS) is referred to as an offer in compromise.

Continue reading Hefty IRS debt? Consider making an offer the IRS can’t refuse. ...

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Pridgeon & Zoss, PLLC 7301 Ohms Lane, Suite 420 Edina , MN 55439 Phone: 952-232-0371 Toll Free: 877-221-1651 Fax: 952-835-0201 Edina Law Office Map

Pridgeon & Zoss, PLLC, provides legal counsel for clients in Hennepin County, Ramsey County, Dakota County and Washington County, Minnesota, including Twin Cities area communities such as Minneapolis, St. Paul, Bloomington, Brooklyn Park, Burnsville, Eagan, Edina, Minnetonka, Richfield, St. Louis Park, Wayzata, White Bear Lake, Eden Prairie, Woodbury, Golden Valley, Maplewood, Roseville, Mendota Heights and Plymouth. The firm also serves clients in St. Croix County, Wisconsin, including communities such as Hudson and Menomonie.