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Our Authors: Jim Buttonow
For 19 years, Jim worked at the IRS in various compliance enforcement positions. Since 2006, Jim has been in private practice and tax and accounting software development. Jim consulting practice focuses on the areas of tax controversy and tax administration. Jim led product development and marketing for a successful software company that developed tax problem software for tax professionals.
Jim has been an IRS partner in improving IRS operations and post-filing service to taxpayers. Jim served as chairperson of the IRS Electronic Tax Administration Advisory Committee (ETAAC) in 2015 and 2016 during which ETAAC played a central role in promoting the IRS digital strategy to develop transformative technology solutions to systemic challenges in tax administration. Jim currently serves as the North Carolina representative on the IRS’ Taxpayer Advocacy Panel (TAP).
Jim regularly speaks on areas of tax administration and problem solving to national associations and has testified before Congress in areas of tax administration. He has also published many articles in industry publications. In his articles, Jim focuses on delivering practical insights, advocating for IRS transparency and efficiency, and proposing innovative large-scale solutions for taxpayers and tax professionals.
Jim has twice been honored in Accounting Today as being one of the Top 100 Most Influential People in Accounting. Jim currently authors CCH’s Tax Problems and Solutions Handbook, a publication aimed at helping tax pros work more effectively in post-filing matters and resolving their clients’ most common tax problems.
Recent articles by Jim Buttonow
The real cost of an IRS offer in compromise (OIC)
When taxpayers can’t pay their tax bill with their assets and monthly income, they may qualify for an offer in compromise (OIC). The OIC for "doubt as to collectibility" is for people who probably won’t be able to pay the IRS before their collection statute expires (generally 10 years from the date the IRS assesses the tax). The OIC allows them to settle their tax bill for less than the full amount.
The new IRS payment plan for people who owe large tax debts: non-streamlined installment agreements
During the COVID-19 IRS shutdown, the IRS got kinder to people who owe a lot of tax debt. The IRS announced a new payment plan that now allows people who owe up to $250,000 to pay on easier terms. The best feature of this new payment plan is that it is easy to set up with the IRS.
IRS Fixed Term Payment Plans (36-month, 72-month, Full-Pay)
Each year, millions of taxpayers set up an IRS payment plan when they file their returns and can’t pay what they owe. IRS statistics show that over 70% of these taxpayers use one of these payment plans.