Offer in Compromise
We are comprised of former IRS agents, managers and tax instructors who have worked in the local South Florida  IRS offices for a combined 60 years.
We have worked in the IRS offer in compromise program as revenue officers and appeal agents.
As a result, we know all  protocols and settlement formulas to get you true tax relief if you are a qualified candidate for an offer in compromise.
The Internal Revenue Service is now settling cases with taxpayers and that never used to be the case.
Over 38% of all offer and compromises are accepted by the Internal Revenue Service. They take around 6 months to process.
The average settlement is $.14 on the dollar.
IRS has over 58,000 offers filed every year and currently has over 7000 cases waiting in the queue to be worked.
All accepted  offers in compromise are a matter of public record in the regional offices for one year.
This ancient program, the OIC, as been around for tens of years and the Internal Revenue Service in days past have been absolutely stubborn accepting offers in compromise.
One of the reasons IRS has been sluggish on accepting offers is the amount of time that it takes for a revenue officer or appellate agent to put through an offer in compromise and work it properly. It can take anywhere between 20 and 30 hours.
It is much easier for an IRS agent to reject the offer than to accept an offer.
The key about the offer in compromise is in packaging and understanding that you are a qualified candidate.
The New Fresh Start Program.
With the advent of the new fresh start initiative or fresh start program, the Internal Revenue Service has learned in many cases the only time the government has a chance of collecting the money is through a settlement procedure.
Since the IRS has began accepting offers in compromise, they have received millions of dollars into the IRS coffers that never would’ve been received in the past.
They finally have got smart and they have started accepting the offer in compromise.
That is the easiest way that IRS tax relief can be achieved for taxpayers.
It gets IRS off the taxpayers back once and for all in it also goes ahead and releases the federal tax lien for good.
I would caution all people before filing an offer in compromise.
As a former IRS agent I have seen many tax professionals and Internet companies especially, try to put offers in compromise through the system that never have a chance in hell of getting accepted
The offer in compromise for IRS tax relief is not for everybody.
The Internal Revenue Service has put out a pre-qualifier tool to make sure that taxpayers are qualified candidates.
You should not give your money to any tax firm or tax professional unless you understand the offer in compromise and have walk yourself through the pre-qualifier tool. We can help you walk to this process today for no charge.
The pre-qualifier tool is simple and you can find it on our website.
You can contact us today for free initial tax consultation and we can walk you through the process. As a former IRS agent and tax instructor I taught the offer in compromise program and I am completely aware of the protocols and systems and settlement formulas of what it takes to get an offer of compromise through the system.
What is the Offer in Compromise- OIC
An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship.
IRS will consider your unique set of facts and circumstances. Each case is different and no two cases are the same. IRS will judge and evaluate your IRS case on the:
1. Ability to pay;
2. Income;
3. Expenses; and
4. Asset equity.
Approval of the OIC
The Service will generally approve an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time. There is a very specific process, specific protocol and specific financial national standards that must be achieved for the IRS to accept the offer in compromise.
Key Note =Make sure you are eligible before filing the OIC
Before the IRS can consider your offer, you must be current with all filing and payment requirements.
Please Note: You are not eligible if you are in an open bankruptcy proceeding.
Submitting your offer in compromise – OIC
You’ll find step-by-step instructions and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B (PDF).
Your completed offer in compromise package should include:
1. Form 433-A (OIC) (individuals) or
2. 433-B (OIC) (businesses) and all required documentation as specified on the forms;
3. Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;
4. $150 application fee (non-refundable); and
5. Initial payment (non-refundable) for each Form 656.
Select a payment option for the OIC – There are two
Your initial payment will vary based on your offer and the payment option you choose:
1. Lump Sum Cash: Submit an initial payment of 20 percent of the total offer amount with your application. Wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.
2. Periodic Payment: Submit your initial payment with your application. Continue to pay the remaining balance in monthly installments while the IRS considers your offer.
If accepted, continue to pay monthly until it is paid in full.
If you meet the Low Income Certification guidelines, you do not have to send the application fee or the initial payment and you will not need to make monthly installments during the evaluation of your offer.
Understand the process the Offer in Compromise – OIC
While your offer in compromise is being evaluated make sure:
1. Your non-refundable payments and fees will be applied to the tax liability
2. A Notice of Federal Tax Lien may be filed;
3. Other IRS collection activities are suspended;
4. The legal assessment and collection period is extended;
5. Make all required payments associated with your offer;
6. You are not required to make payments on an existing installment agreement; and
7. Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.
Contact us today to learn more about the filing of your offer in compromise.
Remember:
There are very specific procedures in place and to have the best chance of getting IRS tax relief will be through a former IRS agent who knows the process, who has accepted the tax settlements and who taught this program and system at the Internal Revenue Service.
 
Offer in Compromise Can give you true Tax Relief – Miami, Ft.Lauderdale