We are an Affordable professional tax firm with over 65 years of direct IRS work experience. Since 1982. A plus Rated! We Can Help Reduce Tax Debt!
We worked in the audit, collections, and appeals division as well as former IRS teaching instructors.
I am a former IRS agent teaching instructor of the offer in compromise which is the tax settlement program for the federal government. That is one of the best opportunities you have to help reduce IRS tax debt.
If you want to file an offer in compromise to help reduce your back or delinquent IRS or state tax debt, I thought you’d like to know what the statistics are.
STAT: Last year over 78,000 offers in compromise were filed by taxpayers and over 38% of those were accepted for average of $6500 per case. Much of the success of this program is due to the pre-qualifier tool.
The pre-qualifier to let you know ahead of time if you are eligible for the program to make sure you don’t spend needless money on tax resolution companies that may rip you off. there is a very specific formula that the IRS uses to reduce your tax debt through the offer in compromise.
You should know ahead of time that IRS is only concerned about your income and your assets. Once you know the formula that have the formula explained to you will know if you are eligible to reduce your IRS tax debt.
We will not file for an offer in compromise unless you are a true candidate for the program. There is an IRS pre-qualifier tool that we review with our clients before we file for the offer in compromise.
Upon your initial tax consultation we’ll let you know if you are eligible to have an accepted offer in compromise by the Internal Revenue Service.
As a former IRS agent, I was a teaching instructor for the offer in compromise, the IRS tax debt settlement program. Due to the new fresh start tax initiative Internal Revenue Service had made it easier to file for the program.
Everyone wants to settle and reduce their tax bill.
Everyone wants to settle with IRS but there is a very specific format and methodology that must be followed.
You could hear the truth about the offer in compromise program when you call us.
There are many myths about the pennies on the dollar program so you need to hear the truth before spending any money.
I know the system inside and out. As a former IRS agent I used to accept and reject offers in compromise.
I have heard countless horror stories from taxpayers who called me about firms that have ripped them off promising settlements.
As a former IRS agent I taught the offer in compromise program at the district training center as a former employee.
The question is pennies on the dollar possible to settle a back or delinquent tax debt?
Yes, it is as a matter of fact, over 38,000 taxpayers got their debt settled with the Internal Revenue Service for average settlement of $6500 last year.
With that being said there is much to say about this pennies on the dollar program called the offer in compromise.
At our firm we will take no clients money until we are no they are a true candidate for the settlement program.
There are many myths about the offer in compromise so IRS and in their great wisdom provides a pre-qualifier tool to find out if taxpayers are eligible for the offer in compromise program so taxpayers do not give their hard-earned money to unsuspecting tax firms promising tax settlements.
I would suggest anyone who wants to go ahead and settle their tax debt through the pennies on the dollar, offer in compromise program contact an experienced an honest tax professional, have them walk them through the pre-qualifier tool before they give their money to anybody.
If you have any questions or issues about the offer in compromise program to settle your debt for pennies on the dollar, call us today and we will review your case to let you know if you are a qualified and suitable candidate..
On cases over $100,000 it is typical they will check your credit report for the accuracy of your financial statement. The higher the dollar case the greater the due diligence.
Many people ask why is this process not that simple. The answer is this, all accepted offers in compromise are a matter of public record for one year in the regional office where the offer was accepted.
The Internal Revenue Service does all that it can to make sure there is a matter of consistency within the offer in compromise program if not still be a tremendous public outcry.
Right now there are over 7500 cases in the offer queue to be worked.
One base rule for the offer in compromise program. IRS is only concerned about your income and assets. this includes your equity in your home, pension plans are IRA’s.
One nice thing about the IRS accepting your offer in compromise is that once you meet the terms of the settlement they will release your federal tax lien.
Below you will find out what you need to know about the offer in compromise program.
TYPES OF OIC PAYMENTS
• The Lump Sum Cash Payment:
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 Periodic Payment:
Submitting 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 of OIC to Reduce Your Tax Debt
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.
Call us today for free initial tax consultation to see if you are a certified an eligible candidate for the offer in compromise program to reduce your IRS Tax Debt.
When you call our office you will speak to true IRS tax expert to learn more about the offer in compromise and tax debt settlement program to reduce your IRS tax debt.
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