We are an affordable professional firm that specializes in immediate and permanent tax relief for back taxes both federal and state.

We have over 206 years professional tax experience in over 65 years of working directly for government agencies and the local, district, and regional tax offices.

Call us today for a free initial tax consultation. We only work cases were over $15,000 in back tax debt exists.

What you should know before preparing an Offer in Compromise

Are you an Offer in Compromise candidate?

If you are an individual or business taxpayer that does not have the income, assets, or means to pay your tax liability now or in the foreseeable future, you may be a candidate. The Offer in Compromise program allows you to offer a lesser amount for payment of a non-disputed final tax liability.

Generally, the State approve san Offer in Compromise when the amount offered represents the most we can expect to collect within a reasonable period of time.

Although you will be evaluated each case is based on its own unique set of facts and circumstances, we give the following factors strong consideration:

• The taxpayer’s ability to pay.

• The amount of equity in the taxpayer’s assets.

• The taxpayer’s present and future income.

• The taxpayer’s present and future expenses.

• The potential for changed circumstances.

• Whether the offer is in the best interest of the state.

The process your application?

They  will only process your Offer in Compromise application if you have done all of the following:

• You have filed all of the required tax returns. If you have no filing requirement, note it on the application.

• You have fully completed the Offer in Compromise application, and provided all supporting documentation.

• You agreed with the Franchise Tax Board on the amount of tax that you owe.

• You authorized the Franchise Tax board to obtain your consumer credit report and to investigate and verify the information you provided on the application.

Will a collateral agreement be required?

Upon approval, the State may require you to enter into a collateral agreement for a term of five years. Generally, a collateral agreement will be required if you have significant potential for increased earnings.

A collateral agreement requires you to:

• Pay us a percentage of your future earnings that exceed an agreed upon threshold.

Are collections suspended?

Collection activity is not automatically suspended.

If delaying collection activity jeopardizes our ability to collect the tax, we may continue with collection efforts. Interest will continue to accrue.

When should offered funds be submitted?

You should not submit the offered funds until the State requests them.

When they do ask for the funds, submit them by cashiers check or money order.

What documentation is required with the application?

For a check list of required items:
• Personal Income Tax – see page 3 of FTB 4905PIT
• Business Income Tax – see page 4 of FTB 4905BE

All financial statement will to be need to be fully documented.

 Call us today for a free initial tax consultation.

Offer in Compromise + State of California Back Taxes + Affordable Former Agents