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What Happens to IRS Agreements After Divorce, Job Loss, or Illness
Description
Episode Summary:
In this episode, Attorney Lance Drury discusses the impact of major life changes like divorce, job loss, and illness on IRS agreements. He emphasizes the importance of renegotiating agreements when economic circumstances shift, highlighting real-life examples where early intervention made a significant difference in IRS responses.
Key Timestamps:
00:00 – Introduction
02:15 – Effect of major life changes on IRS agreements
04:30 – Dealing with job loss or medical issues impacting payments
07:10 – Handling IRS agreements during divorce settlements
09:45 – Addressing personal hardship with the IRS
12:20 – Case study: Impact of early intervention on IRS response
15:00 – Importance of communication with the IRS
17:30 – Role of ongoing compliance in agreement adjustments
20:00 – Common mistakes hindering recovery from disruptions
22:45 – Advice for individuals struggling with IRS agreements
About the Show:
*Resilience and Resolve* is a podcast where Attorney Lance Drury helps individuals and small business owners navigate IRS challenges with over 30 years of experience in tax law. Gain insights on managing IRS agreements through life changes and ensuring compliance for financial stability.