| |
How the IRS Applies Your Payments
and why it is SO IMPORTANT
One of the least understood mysteries of the IRS is, when
you send them money, how does the IRS apply the money. Not
only that, but what difference does it make? You owe, so you pay.
Let
the Government decide right?
NOT IF YOU ARE MY CLIENT!
The IRS Rule------
-
If you are in a signed installment agreement or
payment plan, and if you do not designate how to apply each payment ON
YOUR PAYMENT (CHECK, MONEY ORDER, ETC.), then the GOVERNMENT APPLIES YOUR PAYMENT IN THE GOVERNMENT'S
BEST INTEREST----Oldest debt first, then the next oldest and so on.
|
|
