Owe IRS Taxes & Need Payment Plans + Affordable Settlement Options + Christian Tax Help

February 9, 2016
Written by: Jim Magary

 

Fresh Start Tax

Christian Tax Services, Since 1982.<><

We are composed of former IRS agents and managers who have over 65 years of direct work experience in the local, district, and regional tax offices of the Internal Revenue Service.

 

Proverbs 11:14 <><

Where there is no guidance, a people falls, but in an abundance of counselors there is safety.

Proverbs 19:20-21 <><

Listen to advice and accept instruction, that you may gain wisdom in the future.

 

We are affordable tax experts for those who need help to resolve their tax debt including options for the need of a payment plan.

 

There are various ways of paying back taxes owed to the Internal Revenue Service and most are dependent on your current financial statement or state of affairs.

Sometimes you have other options than making payment plans with the IRS. It is best to know all your options before you make a concrete decision.

Many times taxpayers who need payment plans may find themselves in a hardship situation cannot afford to pay but because of their fear of Internal Revenue Service they may think that is the only option other taxpayers may want to learn that they can settle their tax debt for pennies on the dollar.

You  may be a qualified candidate through the offer in compromise program. Read more below.

In most cases in which a client has not paid back taxes there are several options available after the taxpayer completes a current financial statement on form 433F.

That financial statement must be completely documented along with bank statements, pay stubs, copy of all expenses and receipts matching those expenses.

Once IRS reviews your current financial statement IRS will apply the national standard tests of allowable expenses that the Service feels necessary in certain regions and counties in the United States.

IRS will use those standards and determine the type settlement that will be applicable in your situation. We can explain these standards when you speak to us.

 

The different settlement options to pay or deal with back taxes.

1. After review of your current financial statement, IRS may deem you to be in a currently not collectible status, this means the Internal Revenue Service will suspend your case for two or three years and bring it back out to the field at a later point in time in which they will rework the case and asked for a new financial statement.

2. IRS may determine that you are a monthly installment candidate.

 

Over 6.5 million taxpayers enter into monthly installment payments each and every year and believe it or not at least a third of those taxpayers who enter into those agreements break them.

3. The other options include filing offer in compromise to settle your tax debt.

The offer in compromise is a long process and a very specific process. Your greatest chance of acceptance if you are a qualified candidate is through a true tax professional company knows the system and are well experienced in the process.

As a former IRS agent and teaching instructor I taught new IRS agents this program.

You should know there is an IRS pre-qualifier tool for those wanting to file an offer in compromise.

 

The Offer in Compromise Option

If you want to settle your back taxes, IRS will require a current financial statement along with full documentation.

IRS will require form 433OIC and form 656OIC to be fully documented and complete before the submission of an offer in compromise.

Select a payment option for IRS Debt Settlements

Your initial payment will vary based on your offer and the payment option you choose:

• The IRS 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.

• The IRS 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. See your application package for details.

 

Understand the OIC process to IRS Tax Debt Settlement

While your offer is being evaluated:

• Your non-refundable payments and fees will be applied to the tax liability (you may designate payments to a specific tax year and tax debt);

• A Notice of Federal Tax Lien may be filed;

• Other collection activities are suspended;

• The legal assessment and collection period is extended;

• Make all required payments associated with your offer;

• You are not required to make payments on an existing installment agreement; and

• Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.

You Must have all tax returns filed before IRS will consider you settling your tax debt with an offer in compromise.

Important : We can prepare all back tax returns with little or no records.

 

Call us today for a free initial tax consultation and hear the truth about your case and will explain all the option for taxes owed.

When you call our office you will speak to a true Christian  professional who can help you both understand and bring you to a proper state of resolution so you do not need to worry and be free of any IRS consequences.

 

Owe IRS Taxes & Need Payment Plans + Affordable Settlement Options + Christian Tax Help

 

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“Thanks to Fresh Start, I am feeling more and more confident about finally getting caught up after all these years.”
M. Johnson

“I will certainly refer anyone I come across who needs your services for sure.”
Jody and Don

“I cannot thank you enough for handling my IRS issues. After dealing with another office who did nothing, you guys did everything that you promised. Thanks again, especially Steve Jacob for guiding me every step of the way.”
Jerry H.