Spending Assets to Avoid Paying More to the IRS Before an Offer in Compromise May Be Risky – Part 2 of 2
In part 1 of this article, I discussed spending down assets for an offer in compromise and how the IRS may treat dissipated assets spent on items other than delinquent tax debt. Unless assets are spent on necessary items for health and welfare of the taxpayer and family or for the production of income, the…
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