Affordable Local IRS Tax Settlement Help 954-492-0088
IRS receives 58,000 tax settlement requests every year and accepts approximately 30% for an average of $.14 on a dollar.
It should be noted that every case is separate and unique and is based completely on your current financial statement. The financial statement that will be required to turn into the Internal Revenue Service can be found on our website in his form 433-OIC and tax form 656.
As a former IRS agent I have worked hundreds of offers in compromise/IRS tax settlements and I understand the exact process, the exact system, and the exact protocol that needs to be observed with submitting an offer compromise to the Internal Revenue Service.
No taxpayer should submit an offer in compromise/IRS Tax Settlement or an IRS tax settlement to the Internal Revenue Service until they complete the pre-qualifier tool that you will find that our website.
Contact us today for free initial consultation and you can speak directly of tax attorneys, certified public accountants, or former IRS agents, managers and tax instructors.
We have an A+ rating by the Better Business Bureau and have been in private practice since 1982.
You can call us for an initial consultation or come by and visit our tax offices today.
We are a local South Florida tax firm that specializes in IRS tax settlements. on staff is a former IRS agent who actually worked the offer in compromise program in the local South Florida IRS offices.
The IRS has initiated the new fresh start program or the fresh start initiative to help more taxpayers successfully walk through the offer in compromise program thus settling their case with the Internal Revenue Service.
You will find below some of the changes made to the IRS tax settlement or the offer in compromise.
As a side note, be aware that you will need to fully document your financial statement along with all bank statements, pay-stub’s and verification of all expenses. IRS will conduct a six months to a year of a back review and make sure all documentation completely matches up to your financial statement.
The IRS will spend at least 20 hours working on a IRS settlement or an offer in compromise.
It is absolutely important that you provide accurate and honest information to the federal government. If you’re offer in compromise or IRS settlement is accepted , it will be a matter of public record at the regional tax offices for one year.
Tax information for the IRS Tax Settlement
The IRS has expanded its “Fresh Start” initiative by offering more flexible terms to its Offer-in-Compromise Program.
These newest rules enable some financially distressed taxpayers to clear up their tax problems even quicker.
An offer-in-compromise (OIC) is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed. An OIC is generally not accepted if the IRS believes the liability can be paid in full as a lump sum or through a payment agreement. The IRS looks at the taxpayer’s income and assets to determine the reasonable collection potential.
This expansion of the “Fresh Start” initiative focuses on the financial analysis used to determine which taxpayers qualify for an OIC.
Here are the OIC/IRS Tax Settlements changes:
Revising the calculation for a taxpayer’s future income The IRS will now look at only one year (instead of four years) of future income for offers paid in five or fewer months; and two years (instead of five years) of future income for offers paid in six to 24 months.
All OICs must be paid in full within 24 months of the date the offer is accepted.
Allowing taxpayers to repay their student loans Minimum payments on student loans guaranteed by the federal government will be allowed for the taxpayer’s post-high school education. Proof of payment must be provided.
Allowing taxpayers to pay state and local delinquent taxes When a taxpayer owes delinquent federal and state or local taxes, and does not have the ability to fully pay the liabilities, monthly payments to state taxing authorities may be allowed in certain circumstances.
Expanding the Allowable Living Expense allowance Standard allowances incorporate average expenses for basic necessities for citizens in similar geographic areas. These standards are used when evaluating installment agreement and offer-in-compromise request.
Contact us today for a free evaluation of your case and have a former IRS agent review and analyze your IRS Tax Settlement before you spend any money.
IRS Tax Settlement Help – Affordable Local Attorneys, CPA’s, Former IRS Agents, Ft.Lauderdale, Miami, West Palm
