The IRS recently announced the opening of the application period for the 2022 Compliance Assurance Process (CAP) program. The application period runs from September 1 to November 1, 2021. While the CAP program can be a good option for some companies, participating in the program also carries certain risks. As a result, prior to applying for the program, company executives will want to thoroughly discuss their options with an experienced Virginia business tax attorney.

If you are behind on your federal income tax liability, you may be thinking about submitting an Offer in Compromise (OIC) to the Internal Revenue Service (IRS). It would be nice to put your tax debt behind you, and plenty of companies offer to work with the IRS on your behalf to settle your debt for pennies on the dollar. Unfortunately, as the IRS explains, many of these offers are fraudulent. While it is possible to pay less than you owe, settling your tax debt with the IRS is not an easy process, and it is important to work with an experienced Virginia tax attorney to make sure you meet the requirements for submitting an acceptable OIC.