by Fresh Start Tax | Nov 26, 2018 | Tax Help
We have over 200 years of professional tax experience and over 100 years of working directly for the Internal Revenue Service. Since 1982.
As former IRS agents and managers we know all the systems to provide you affordable, fast and accurate IRS tax relief solutions.
If you owe back taxes to the Internal Revenue Service there are three programs usually available to those who will back taxes.
The Process:
After the Internal Revenue Service reviews a current financial statement that must be fully documented, IRS will want to examine your bank statements and pay stubs to verify all the information. the Internal Revenue Service looks very closely at your income expenses and asset base. IRS applies the national expense standards with that of your income to determine the outcome of your case.
After the review of your financial statement the IRS has the option to put you into a currently not collectible status that may last two or three years, or place you in a payment plan or the possibility of filing an offer in compromise if you qualify based on your assets and income.
It is important to remember that all tax returns must be filed or the Internal Revenue Service will not close your case out.
IRS can use their enforcement power by sending out an IRS bank or wage garnishment levy if you do not follow-up on all dates and final notices.
IRS also has the option of filing a federal tax lien to make sure their interest is secured.
You can call us today for a free initial tax consultation and we will walk you through all the programs based on your current financial condition. We can insure and guarantee the best possible outcome.
With over 200 years of professional tax experience and over 100 years of working directly for the Internal Revenue Service we know every single program , methodology, and every possible way to get you the best possible tax result.
If you need to file your tax returns we can have former IRS agents and managers who worked in the audit division prepare your back tax returns with or without records.
We can make sure you pay the lowest amount allowed by law and if you have no record we can easily reconstruct your tax return and keep them audit proof as well.
Call us today for a free initial tax consultation and hear the truth from the people who truly know the tax business inside and out.
When you call our office, you will speak directly to a true IRS tax expert and not a salesperson. We are A+ rated by the Better Business Bureau and have been in practice since 1982.
There are many companies that say they offer fast and affordable IRS tax relief solutions but what separates us from them our years of experience, our professionalism, our communication and our ability to resolve your case for affordable pricing.
Fast, Affordable IRS Tax Relief Solutions + Get a Free Tax Debt Consultation Now!
by Fresh Start Tax | Nov 21, 2018 | Tax Help
[sulltypic]
Get a IRS bank or wage garnishment levy released immediately through formal IRS agents who know the system, since 1982.
You should know the chief collection tool of the Internal Revenue Service is both the bank and wage garnishment levy.
They collect for the Internal Revenue Service billions of dollars a year and will continue through the years to be the chief enforcement tool and moneymaker for the Internal Revenue Service and the Department of treasury.
The IRS over the years typically files anywhere between 1/2 a million to a million, both Bank and wage garnishment levies.
It requires no manpower for the Internal Revenue Service to actually file an IRS bank lev, it is done systematically out of the IRS CADE2 computer.
THE LEVY
The Internal Revenue Service keeps its levy sources by collecting your financial information on their computerized system and recording it over the last six years, yes all 1099, W-2, and any financial institution that has required information to file with the Department of treasury appear on this system.
Also if you have written a check to the Internal Revenue Service in the past six years records that is a levy source as well.
If you have not paid the Internal Revenue Service, a final notice of a bank or wage garnishment levy is systematically filed.
IRS generally sends out a series of 4 to 5 letters six weeks apart notifying you of their intent of pending action that they plan to take.
What is surprising many people are not even aware that this is going to happen because they’ve never received their mail and one day they find out from the bank IRS has frozen their money or their employer told him they’re not getting a paycheck.
The good news about the IRS bank levy is this, your money is frozen in the bank for 21 days, that is, you have 21 days to contact the Internal Revenue Service and they will issue a release of the bank levy but you have to know how to accomplish that and how to make sure that takes place within 21 days.
If the Internal Revenue Service has sent your bank a tax levy and you wish to get an immediate release, call us today. Since 1982.
We have over 200 years of professional tax experience, over 100 years of working directly for the Internal Revenue Service and our staff is composed of certified public accountants, enrolled agents, and former IRS agents, managers and teaching instructors.
We are true experts in IRS bank levies. As former IRS agents we have filed hundreds and hundreds of bank levies so we know the process of getting immediate releases of the documents.
When you call us we will give you a free initial tax consultation, walk you through the program and not only get you your IRS levy release but settle your case at the same time.
There is a very methodical way to get your IRS levy released.
THE HOW TO:
IRS will require a basic financial statement along with documentation and after review decide whether to put you into a currently not collectible, payment agreement or may encourage you to file an offer in compromise. The Internal Revenue Service will have to be contacted and complete documentation of your current financial statement must be given to the Internal Revenue Service or they will make an immediate determination if the financial statement is complete.
We generally immediately send in a power of attorney for all our clients complete and prepare the financial statement along with the documentation, call the Internal Revenue Service and get immediate releases of the federal bank or wage garnishment levies.
After a review your financial statement we will be able to set up a course of strategy and get your levy released immediately.
As a general rule within 24 hours of receiving your current financial statement we can get your bank levy released by the Internal Revenue Service.
Information you need to know about the IRS bank levy.
A levy is a legal seizure of your property to satisfy a tax debt.
IRS Levies are different from IRS liens. Many people get the two confused and they are quite different.
A lien is a legal claim against property to secure payment of the tax debt, while a levy actually takes the property to satisfy the tax debt. The filing of a federal tax lien will completely mess up your credit report and it must be dealt with.
Where does Internal Revenue Service (IRS) authority to levy originate?
The Internal Revenue Code (IRC) authorizes levies to collect delinquent tax. See IRC 6331. Any property or right to property that belongs to the taxpayer or on which there is a Federal tax lien can be levied, unless the IRC exempts the property from levy.
What actions must the Internal Revenue Service take before a levy can be issued?
The IRS will usually levy only after these three requirements are met:
• The IRS assessed the tax and sent you a Notice and Demand for Payment (a tax bill);
• You neglected or refused to pay the tax; and
• The IRS sent you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing (levy notice) at least 30 days before the levy.
The IRS may give you this notice in person, leave it at your home or your usual place of business, or send it to your last known address by certified or registered mail, return receipt requested. If you have moved and not let the Internal Revenue Service know, many tax payers find themselves between a rock and a hard place because IRS sends the last final notice to the last filed address on the tax return.
Please note: if the IRS levies your state tax refund, you may receive a Notice of Levy on Your State Tax Refund, Notice of Your Right to Hearing after the levy.
When will the IRS issue a levy/garnishment?
If you do not pay your taxes (or make arrangements to settle your debt), and the IRS determines that a levy is the next appropriate action, the IRS may levy any property or right to property you own or have an interest in.
For instance, the IRS could levy property that is yours, but is held by someone else (such as your wages, retirement accounts, dividends, bank accounts, licenses, rental income, accounts receivables, the cash loan value of your life insurance, or commissions). Or, the IRS could seize and sell property that you hold (such as your car, boat or house).
What if a levy on my wages, bank, or other account is causing a hardship? Call us immediately if this is the case.
If the levy on your wages is creating an immediate economic hardship, the levy must be released. If the levy on your bank account or other account is creating an immediate economic hardship, the levy may be released.
An economic hardship occurs when we have determined the levy prevents you from meeting basic, reasonable living expenses. In order for the IRS to determine if a levy is causing hardship, the IRS will usually need you to provide financial information so be prepared to provide it when you call.
A levy release does not mean you are exempt from paying the balance.
The IRS will work with you to establish a payment plan or take other steps to help you pay off the balance. To help ensure quick action, please have the fax number available for the employer, bank or other financial institution that is processing the levy.
When the levy is on a bank account, the Internal Revenue Code (IRC) provides a 21-day waiting period for complying with the levy.
The waiting period is intended to allow you time to contact the IRS and arrange to pay the tax or notify the IRS of errors in the levy.
Generally, IRS levies are delivered via the mail. The date and time of delivery of the levy is the time when the levy is considered to have been made.
PLEASE NOTE: In the case of a bank levy, funds in the account are frozen as of the date and time the levy is received. Normally, the levy does not affect funds you add to your bank account after the date of the levy.
IRS Wage Levies may Follow. Even though IRS usually files a bank or a wage garnishment levy in some cases they will take both enforcement actions.
If the IRS levies (seizes) your wages, part of your wages will be sent to the IRS each pay period until:
• You make other arrangements to pay your overdue taxes,
• The amount of overdue taxes you owe is paid, or
• The levy is released.
Part of your wages may be exempt from the levy and the exempt amount will be paid to you. The exempt amount is based on the standard deduction and an “amount determined” calculated in part based on the number of dependents you are allowed for the year the levy is served.
The IRS mails Publication 1494 (PDF) with the levy which explains to your employer how to determine the amount exempt from levy.
Your employer will provide you with a Statement of Dependents and Filing Status to complete and return within three days. If you do not return the statement in three days, your exempt amount is figured as if you are married filing separately with no dependents (zero). If you have other income sources, the IRS may allocate the exemptions to the other income source and levy on 100% of the income from a particular employer.
Levies are different from liens, So please take note.
A lien is a legal claim against your property to secure payment of your tax debt, while a levy actually takes the property to satisfy the tax debt.
A federal tax lien comes into being when the IRS accesses a tax against you and sends you a bill that you neglect or refuse to pay it. The IRS files a public document, the Notice of Federal Tax Lien, to alert creditors that the government has a legal right to your property.
You have the right to appeal if the IRS advises you of the intent to file a Notice of Federal Tax Lien. Your appeal rights are explained in IRS Publication 1660, Collection Appeal Rights (PDF).
When filed, the Notice of Federal Tax Lien is a public document that alerts other creditors that the IRS is asserting a secured claim against your assets.
Credit reporting agencies may find the Notice of Federal Tax Lien and include it in your credit report. An IRS levy is not a public record.
Call us today for a free initial tax consultation and speak to a true IRS tax expert regarding your IRS bank levy or wage levy garnishment.
IRS Bank/Wage Garnishment Levy Released Immediately + Jacksonville, Tampa , Orlando, Miami, Tallahassee
by Fresh Start Tax | Nov 21, 2018 | Tax Help
The IRS bank levy is the chief collection tool of the collection division to collect back taxes on taxpayers that have failed to pay.
The IRS over the years typically files anywhere between 1/2 a million to a million, both Bank and wage garnishment levies.
It requires no manpower for the Internal Revenue Service to actually file an IRS bank lev, it is done systematically out of the IRS CADE2 computer.
The Internal Revenue Service keeps its levy sources by collecting your financial information on their computerized system and recording it over the last six years, yes all 1099, W-2, and any financial institution that has required information to file with the Department of treasury appear on this system. Also if you have written a check to the Internal Revenue Service in the past six years records that is a levy source as well.
If you have not paid the Internal Revenue Service, a final notice of a bank or wage garnishment levy is systematically filed.
The good news about the IRS bank levy is this, your money is frozen in the bank for 21 days, that is, you have 21 days to contact the Internal Revenue Service and they will issue a release of the bank levy but you have to know how to accomplish that and how to make sure that takes place within 21 days.
If the Internal Revenue Service has sent your bank a tax levy and you wish to get an immediate release, call us today. Since 1982.
We have over 200 years of professional tax experience, over 100 years of working directly for the Internal Revenue Service and our staff is composed of certified public accountants, enrolled agents, and former IRS agents, managers and teaching instructors.
We are true experts in IRS bank levies. As former IRS agents we have filed hundreds and hundreds of bank levies so we know the process of getting immediate releases of the documents.
When you call us we will give you a free initial tax consultation, walk you through the program and not only get you your IRS levy release but settle your case at the same time.
There is a very methodical way to get your IRS levy released.
THE HOW TO:
IRS will require a basic financial statement along with documentation and after review decide whether to put you into a currently not collectible, payment agreement or may encourage you to file an offer in compromise.
The Internal Revenue Service will have to be contacted and complete documentation of your current financial statement must be given to the Internal Revenue Service or they will make an immediate determination if the financial statement is complete.
We generally immediately send in a power of attorney for all our clients complete and prepare the financial statement along with the documentation, call the Internal Revenue Service and get immediate releases of the federal bank or wage garnishment levies.
After a review your financial statement we will be able to set up a course of strategy and get your levy released immediately.
As a general rule within 24 hours of receiving your current financial statement we can get your bank levy released by the Internal Revenue Service.
Information you need to know about the IRS bank levy.
A levy is a legal seizure of your property to satisfy a tax debt.
IRS Levies are different from IRS liens.
A lien is a legal claim against property to secure payment of the tax debt, while a levy actually takes the property to satisfy the tax debt.
Where does Internal Revenue Service (IRS) authority to levy originate?
The Internal Revenue Code (IRC) authorizes levies to collect delinquent tax. See IRC 6331. Any property or right to property that belongs to the taxpayer or on which there is a Federal tax lien can be levied, unless the IRC exempts the property from levy.
What actions must the Internal Revenue Service take before a levy can be issued?
The IRS will usually levy only after these three requirements are met:
• The IRS assessed the tax and sent you a Notice and Demand for Payment (a tax bill);
• You neglected or refused to pay the tax; and
• The IRS sent you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing (levy notice) at least 30 days before the levy.
The IRS may give you this notice in person, leave it at your home or your usual place of business, or send it to your last known address by certified or registered mail, return receipt requested. If you have moved and not let the Internal Revenue Service know, many tax payers find themselves between a rock and a hard place because IRS sends the last final notice to the last filed address on the tax return.
Please note: if the IRS levies your state tax refund, you may receive a Notice of Levy on Your State Tax Refund, Notice of Your Right to Hearing after the levy.
When will the IRS issue a levy?
If you do not pay your taxes (or make arrangements to settle your debt), and the IRS determines that a levy is the next appropriate action, the IRS may levy any property or right to property you own or have an interest in.
For instance, the IRS could levy property that is yours, but is held by someone else (such as your wages, retirement accounts, dividends, bank accounts, licenses, rental income, accounts receivables, the cash loan value of your life insurance, or commissions). Or, the IRS could seize and sell property that you hold (such as your car, boat or house).
What if a levy on my wages, bank, or other account is causing a hardship?
If the levy on your wages is creating an immediate economic hardship, the levy must be released. If the levy on your bank account or other account is creating an immediate economic hardship, the levy may be released.
An economic hardship occurs when we have determined the levy prevents you from meeting basic, reasonable living expenses. In order for the IRS to determine if a levy is causing hardship, the IRS will usually need you to provide financial information so be prepared to provide it when you call.
A levy release does not mean you are exempt from paying the balance.
The IRS will work with you to establish a payment plan or take other steps to help you pay off the balance. To help ensure quick action, please have the fax number available for the employer, bank or other financial institution that is processing the levy.
When the levy is on a bank account, the Internal Revenue Code (IRC) provides a 21-day waiting period for complying with the levy.
The waiting period is intended to allow you time to contact the IRS and arrange to pay the tax or notify the IRS of errors in the levy.
Generally, IRS levies are delivered via the mail. The date and time of delivery of the levy is the time when the levy is considered to have been made.
In the case of a bank levy, funds in the account are frozen as of the date and time the levy is received. Normally, the levy does not affect funds you add to your bank account after the date of the levy.
IRS Wage Levies may Follow
If the IRS levies (seizes) your wages, part of your wages will be sent to the IRS each pay period until:
• You make other arrangements to pay your overdue taxes,
• The amount of overdue taxes you owe is paid, or
• The levy is released.
Part of your wages may be exempt from the levy and the exempt amount will be paid to you. The exempt amount is based on the standard deduction and an “amount determined” calculated in part based on the number of dependents you are allowed for the year the levy is served.
The IRS mails Publication 1494 (PDF) with the levy which explains to your employer how to determine the amount exempt from levy.
Your employer will provide you with a Statement of Dependents and Filing Status to complete and return within three days. If you do not return the statement in three days, your exempt amount is figured as if you are married filing separately with no dependents (zero). If you have other income sources, the IRS may allocate the exemptions to the other income source and levy on 100% of the income from a particular employer.
Levies are different from liens.
A lien is a legal claim against your property to secure payment of your tax debt, while a levy actually takes the property to satisfy the tax debt.
A federal tax lien comes into being when the IRS accesses a tax against you and sends you a bill that you neglect or refuse to pay it. The IRS files a public document, the Notice of Federal Tax Lien, to alert creditors that the government has a legal right to your property.
You have the right to appeal if the IRS advises you of the intent to file a Notice of Federal Tax Lien. Your appeal rights are explained in IRS Publication 1660, Collection Appeal Rights (PDF).
When filed, the Notice of Federal Tax Lien is a public document that alerts other creditors that the IRS is asserting a secured claim against your assets.
Credit reporting agencies may find the Notice of Federal Tax Lien and include it in your credit report. An IRS levy is not a public record.
Call us today for a free initial tax consultation and speak to a true IRS tax expert regarding your IRS bank levy or wage levy garnishment.
We are one of the nation’s top defense tax firms.
I
by Fresh Start Tax | Nov 20, 2018 | Tax Help
If the Internal Revenue Service has sent your bank a tax levy and you wish to get an immediate release, call us today. Since 1982.
We have over 200 years of professional tax experience, over 100 years of working directly for the Internal Revenue Service and our staff is composed of certified public accountants, enrolled agents, and former IRS agents, managers and teaching instructors.
We are a local South Florida tax firm that has worked out of the South Florida IRS offices.
We are true experts in IRS bank levies. As former IRS agents we have filed hundreds and hundreds of bank lobbies so we know the process of getting immediate releases of the documents.
When you call us we will give you a free initial tax consultation, walk you through the program and not only get you your IRS levy release but settle your case at the same time.
Feel free to come into our office, Skype us, or call us by phone for free initial tax consultation and we will walk you through the process of getting immediate releases of a banker wage garnishment levy.
There is a very methodical way to get your IRS levy released.
IRS will require a basic financial statement along with documentation and after review decide whether to put you into a currently not collectible, payment agreement or may encourage you to file an offer in compromise. After a review your financial statement we will be able to set up a course of strategy and get your levy released immediately.
As a general rule within 24 hours of receiving your current financial statement we can get your bank levy released by the Internal Revenue Service.
Information you need to know about the IRS bank levy.
A levy is a legal seizure of your property to satisfy a tax debt.
IRS Levies are different from IRS liens.
A lien is a legal claim against property to secure payment of the tax debt, while a levy actually takes the property to satisfy the tax debt.
Where does Internal Revenue Service (IRS) authority to levy originate?
The Internal Revenue Code (IRC) authorizes levies to collect delinquent tax. See IRC 6331. Any property or right to property that belongs to the taxpayer or on which there is a Federal tax lien can be levied, unless the IRC exempts the property from levy.
What actions must the Internal Revenue Service take before a levy can be issued?
The IRS will usually levy only after these three requirements are met:
• The IRS assessed the tax and sent you a Notice and Demand for Payment (a tax bill);
• You neglected or refused to pay the tax; and
• The IRS sent you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing (levy notice) at least 30 days before the levy.
The IRS may give you this notice in person, leave it at your home or your usual place of business, or send it to your last known address by certified or registered mail, return receipt requested. If you have moved and not let the Internal Revenue Service know, many tax payers find themselves between a rock and a hard place because IRS sends the last final notice to the last filed address on the tax return.
Please note: if the IRS levies your state tax refund, you may receive a Notice of Levy on Your State Tax Refund, Notice of Your Right to Hearing after the levy.
When will the IRS issue a levy?
If you do not pay your taxes (or make arrangements to settle your debt), and the IRS determines that a levy is the next appropriate action, the IRS may levy any property or right to property you own or have an interest in.
For instance, the IRS could levy property that is yours, but is held by someone else (such as your wages, retirement accounts, dividends, bank accounts, licenses, rental income, accounts receivables, the cash loan value of your life insurance, or commissions). Or, the IRS could seize and sell property that you hold (such as your car, boat or house).
What if a levy on my wages, bank, or other account is causing a hardship?
If the levy on your wages is creating an immediate economic hardship, the levy must be released. If the levy on your bank account or other account is creating an immediate economic hardship, the levy may be released.
An economic hardship occurs when we have determined the levy prevents you from meeting basic, reasonable living expenses. In order for the IRS to determine if a levy is causing hardship, the IRS will usually need you to provide financial information so be prepared to provide it when you call.
A levy release does not mean you are exempt from paying the balance.
The IRS will work with you to establish a payment plan or take other steps to help you pay off the balance. To help ensure quick action, please have the fax number available for the employer, bank or other financial institution that is processing the levy.
When the levy is on a bank account, the Internal Revenue Code (IRC) provides a 21-day waiting period for complying with the levy.
The waiting period is intended to allow you time to contact the IRS and arrange to pay the tax or notify the IRS of errors in the levy.
Generally, IRS levies are delivered via the mail. The date and time of delivery of the levy is the time when the levy is considered to have been made.
In the case of a bank levy, funds in the account are frozen as of the date and time the levy is received. Normally, the levy does not affect funds you add to your bank account after the date of the levy.
IRS Wage Levies may Follow
If the IRS levies (seizes) your wages, part of your wages will be sent to the IRS each pay period until:
• You make other arrangements to pay your overdue taxes,
• The amount of overdue taxes you owe is paid, or
• The levy is released.
Part of your wages may be exempt from the levy and the exempt amount will be paid to you. The exempt amount is based on the standard deduction and an “amount determined” calculated in part based on the number of dependents you are allowed for the year the levy is served.
The IRS mails Publication 1494 (PDF) with the levy which explains to your employer how to determine the amount exempt from levy.
Your employer will provide you with a Statement of Dependents and Filing Status to complete and return within three days. If you do not return the statement in three days, your exempt amount is figured as if you are married filing separately with no dependents (zero). If you have other income sources, the IRS may allocate the exemptions to the other income source and levy on 100% of the income from a particular employer.
Levies are different from liens.
A lien is a legal claim against your property to secure payment of your tax debt, while a levy actually takes the property to satisfy the tax debt.
A federal tax lien comes into being when the IRS accesses a tax against you and sends you a bill that you neglect or refuse to pay it. The IRS files a public document, the Notice of Federal Tax Lien, to alert creditors that the government has a legal right to your property.
You have the right to appeal if the IRS advises you of the intent to file a Notice of Federal Tax Lien. Your appeal rights are explained in IRS Publication 1660, Collection Appeal Rights (PDF).
When filed, the Notice of Federal Tax Lien is a public document that alerts other creditors that the IRS is asserting a secured claim against your assets.
Credit reporting agencies may find the Notice of Federal Tax Lien and include it in your credit report. An IRS levy is not a public record.
Call us today for a free initial tax consultation and speak to a true IRS tax expert regarding your IRS bank levy or wage levy garnishment.
We are one of the nation’s top defense tax firms.
IRS Bank Levies + Get Levies Released Immediately + Former IRS Agents + Ft. Lauderdale, Miami, Boca , Palm Beaches
by Fresh Start Tax | Nov 19, 2018 | Tax Help
Michael Sullivan, Offer in Compromise Tax Offer Expert at Fresh Start Tax, Former Agent, National Speaker on Back Taxes
Those wishing to settle IRS tax debt need first to understand the program called the offer in compromise.
The offer in compromise program has been around for many years and this has come to light as marketing companies encourage people to settle their tax debt for pennies on the dollar.
While wanting to settle your IRS tax debt is a great idea for those who owe back taxes, you must understand the program.
Unfortunately many people are giving their money to tax defense firms who have no idea about the complexity of the program.
Before you entertain the idea to settle your back tax debt to the offer in compromise be informed.
The offer in compromise is a wonderful tool to settle your tax debt because you cannot only settle your debt but will release your federal tax lien if it’s filed as well. I hope this blog is helpful to you.
As a former IRS agent and teaching instructor with the Internal Revenue Service I used to teach the offer in compromise program to agents that were qualified to both work to process and accept offers in compromise.
I worked out a local South Florida IRS offices we have over 100 years of professional IRS work experience and over 200 years of professional tax experience in our offices.
Therefore, I know the system inside and out and when you call our office we will review your case with you and let you know before hand whether we will process your offer in compromise and take the case on.
One of the reasons the offer in compromise is the best way to settle your back tax that is simple it reduces your debt for pennies on the dollar and it removes the federal tax lien from your credit records.
The offer in compromise is a much more complicated process than taxpayers can possibly imagine. Much time is put in to the acceptance of an offer in compromise and IRS goes through great lengths of due diligence before it accepts an offer in compromise.
Below you will find out different aspects of the offer in compromise program you may not have been aware of so take heed.
1. All offers in compromise that are accepted are open to public inspection at rate eight regional IRS offices across the United States.
Believe it or not, only one person reviewed accepted offers in compromise at one regional site and to date this year, no one has reviewed any accepted offers in compromise.
2. It is much easier for an IRS agent to reject an offer in compromise into accepting why?, just sheer laziness, matter of fact an agent will look to reject an offer in compromise first as to accept it. It takes a lot more work to accept an offer in compromise because all the managerial reviews required.
3. An average offer in compromise takes anywhere between 20 to 40 hours to accept because of all the due diligence that is necessary for the program.
4. The offer in compromise group is a specialized group that goes through ask expansive training to understand the different nuances within the offer in compromise program and to make sure it legally can be accepted by the Internal Revenue Service.
5. The offer in compromise is a legal and binding contract between the taxpayer and the United States Department of treasury. it is wise for the taxpayer to become aware of the requirements if your offer is accepted. What I mean by this is that for the next five years you must pay all your taxes on time. Should you miss, your offer in compromise will kick back out to the field.
6. The smaller the dollar amount, the less work and effort is put into the offer in compromise. Large dollar cases require 2 to 3 times the amount of work that a small dollar case takes.
7. Last year, approximately one-third of offers in compromise were accepted by the Internal Revenue Service. As a general rule, somewhere between 30 and 35,000 offers are accepted every year. The average settlement dollar is $9500 per offer. That dollar amount is misleading because it is an average and is not really reflective because the OIC is based on a case-by-case basis.
8. The Internal Revenue Service has a number of financial search engines they use to check the offer in compromise for the validity of doing due diligence. They can use the Accuriant search engine, the Google search engine and internal governmental search engines such as LEXIS-NEXIS and other ones used by the Department of Homeland Security the FBI as well as other agencies to do checks.
9. Offers in compromise are accepted per formula. Therefore knowing the formula is the key to getting your offer in compromise accepted by the Internal Revenue Service. If you want to get your offer in compromise accepted you must go to an experienced tax practitioner who has worked at least 100 an offer in compromise to understand the complexity and the nature of the offer in compromise.
It only makes sense to have former IRS agents such as us who know the system inside and out to have the best chance to getting your offer accepted.
10. The base rule for the Internal Revenue Service is that you must give IRS your total liquid value as a base. The Internal Revenue Service generally will never accept anything less than your full liquid value. Also IRS is going to take a close look at your income versus your necessary living expenses ratios.
11. The average offer in compromise takes a minimum of nine months from the time their file to acceptance.
If you like to learn more call us today and we will review with you the offer in compromise program and find out if you’re a qualified candidate to get an offer in compromise accepted.
When you call our office you will speak to true IRS tax experts regarding settlement of your tax debt on back taxes.
We can also file any unfiled or past-due tax returns because the Internal Revenue Service cannot finalize your offer in compromise until all tax returns are filed.
Want To Settle IRS Back Tax Debt, Learn from IRS Insiders, Former IRS Agents + Ft. Lauderdale, Miami, Palm Beaches, Boca Raton
