We are the AFFORDABLE Florida specialty firm that specialize in IRS Tax Problem Help and Tax Debt Relief.
We have practiced in the state of Florida since 1982 and are A+ rated by the Better Business Bureau.
We have over 60 years of directly working for the Internal Revenue Service and the state of Florida.
We have worked in a local, district, and regional tax offices of the IRS.
We know all the systems, strategies and formula used by the IRS because we taught them to new IRS agents.
We know what they know.
How to Settle Back Tax Debt with the IRS, former IRS Agent
I am a former revenue officer and teaching instructor and have worked in Florida’s IRS office.
To settle any back debt with the Internal Revenue Service you will need to submit a current financial statement along with all documentation. Form 433-F
Along with that financial statement IRS will need to review current monthly expenses. copy last three months of bank statements, and copy in your last pay stub.
Once IRS reviews your financial statement they will make a determination on how they will proceed and work with your case.
As a general rule, after a financial analysis the Internal Revenue Service will either place you into an economic tax hardship, insist on a monthly payment agreement or let you know you are a qualified candidate for offer in compromise or a tax debt settlement.
It is important you have a qualified professional fill out your current financial statement.
Please find below information regarding the offer in compromise or tax debt settlement.
Offer in Compromise – Tax Debt Relief
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 considers all your unique set of facts and circumstances such as:
1. Ability to pay;
2. Income;
3. Expenses; and
4. Asset equity.
IRS generally approves an offer in compromise when the amount offered represents the most IRS can expect to collect within a reasonable period of time.
The Offer in Compromise program is not for everyone.
Make sure you are eligible.
Check out the pre qualifier toll on our website.
Before IRS can consider your offer, you must be current with all filing and payment requirements.
You are not eligible if you are in an open bankruptcy proceeding. Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.
Submit your offer
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 package will include:
1. Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms;
2. Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;
3. $186 application fee (non-refundable); and
Initial payment (non-refundable) for each Form 656.
Selecting a payment option
Your initial payment will vary based on your offer and the payment option you choose:
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.
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.
Call us today for free initial tax consultation and we can walk you through the different strategies to resolve any IRS tax problem you have and settle your back tax debt that you have and get you immediate and permanent tax relief.
