We are true AFFORDABLE IRS experts, since 1982 we have been practicing in South Florida A+ rated.
We have worked thousands of cases and our former IRS agents have logged more than 100 years of direct IRS work experience in the local, district, and regional tax offices of the Internal Revenue Service. We worked right here out of the local South Florida offices.
We are true IRS tax experts that can help you with any IRS debt. We are fully staffed with tax relief service experts. We are comprised of tax attorneys, tax lawyers, former IRS agents we know our business inside and out.
So how does IRS deal with tax debt?
IRS deals and tax debt in a very specific and methodical way.
IRS will take a current financial statement on a form 433 a or a 433f. You can find both of these forms on our website.
These forms are sent to IRS for review and the Internal Revenue Service wants full documentations of the form. They will want copies of the last six months bank statements, copy of all living expenses, a current pay stub and other documents that support that financial statement.
After IRS reviews the statement, IRS usually has three courses of action they will move forward to close or settle the case with an individual, business, or corporation.
1.Over 40% of all cases that IRS deals is placed into a current tax hardship.
A hardship means when the review your financial statement and your documentation supports the fact you cannot pay the debt and they have decided they cannot currently collect money. Basically, they put a freeze on your account and will review the case in about two or three years later. The good news is, IRS’s off your back but the bad news is IRS will review your case sometime down the road. These hardships are also called currently not collectible.
2. Next IRS may put your case into a payment agreement.
After a careful review of your income and expenses IRS will apply the national standards, the local standards, and the regional standards which allows what IRS will accept as appropriate monthly living expenses for a particular region in the US. If you make more income than the current necessary living expenses according to IRS and Department of Labor you will have a payment agreement or installment agreement with IRS.
6.5 million taxpayers a year enter into payment agreements with the Internal Revenue Service.
3. The next option is that IRS could accept an offer in compromise or you can settle your tax debt for pennies on a dollar.
As a former IRS agent I taught the offer in compromise program. The offer program is a very specific formula that must be used before one can submit the offer in compromise.
In all cases we work we try to qualify our clients to settle their debt for pennies on a dollar if they are qualified.
About 32% of people who submit offers in compromise finding IRS accepting for the settlement.
The average settlement is $9500. However that’s a matter of financial circumstances.
There are other ways that IRS can close your case one being the 10 year statute of limitation expires and the other the filing of a bankruptcy.
Filing of Tax Returns
Special note: all tax returns must be filed.
IRS will not close a case out in their inventory unless the taxpayer has filed all tax returns.
We can file all your tax returns and get you up-to-date with or without tax records.
Call us today to learn more about the various programs and how you can qualify.
Help With IRS Tax Debt + Tax Relief and Filing Tax Returns Service Experts + Tax Attorneys, Lawyers, Former IRS + Vero Beach, Fort Pierce, Port St. Lucie
