James A. Kraehenbuehl, JD, CPA, founder of Mid-Atlantic Law & Tax, has been asked by national publications to explain how IRS collection and tax resolution options actually work. Each item below links to the original article.
James was asked how the IRS weighs income against assets when deciding which relief option fits. His answer explains why an Offer in Compromise can fail where Currently Not Collectible status is the better route.
“Assessing which option may fit depends on both income and assets. In one case, taxpayers with substantial home equity had an Offer in Compromise rejected even after job loss left them living on Social Security. Currently Not Collectible status was the more appropriate path because their income and necessary expenses showed they could not make payments, while allowing them to remain in their home.”
Read the full article on CuraDebt
June 2026
Asked how high-net-worth investors can avoid overpaying on investment income, James pointed to a reporting detail that is easy to miss.
“If you have invested in tax-favored assets, such as treasury bonds or municipal bonds, double check that your tax preparer knows how to claim these benefits. They are not always directly provided in your 1099s such that many preparers will not think to claim them when preparing your taxes. You can see if it is done correctly by comparing the interest or dividends on line 2 of your federal return to the interest or dividends reported on your state return. A lot of high-net-worth individuals make these investments but miss out on the benefit on the back end.”
Read the full article in High Net Worth Magazine
