Los Angeles – IRS Tax Debt Settlement, Offer in Compromise = Affordable Former IRS Settlement Officer = Los Angeles, California

by Fresh Start Tax | Sep 12, 2014 | Tax Help

If you want to settle your debt for pennies on a dollar it only makes perfect sense to hire a former IRS revenue officer who both worked and taught the IRS tax debt settlement program called the offer in compromise.

Not only did we work and settle cases for the Internal Revenue Service, we also taught IRS agents how to work the the program and qualify taxpayers for  The tax debt settlement program.

I am one of the most foremost experts on how to settle your debt for pennies on a dollar.

We are very affordable.

The IRS tax settlement process is very specific.

• 38% of all those who apply to the IRS tax settlement called the offer in compromise get there tax debt settlement approved.

• The average settlement is $.14 on the dollar but everything is completely predicated on your current and verifiable financial statement.

My blog  contains some of the material necessary to find out if you have a qualified case to settle your debt to the offer in compromise.

FST  takes no money from any potential clients unless we know they have a very viable chance of acceptance for the offer in compromise program. we will walk you through the IRS pre-qualifier tool before sending in any IRS tax debt settlement or offer in compromise.

Below you will find out the basic outline of what the average taxpayer needs to know how to settle their debt through the IRS offer in compromise.

The IRS Offer in Compromise, How to Settle Your IRS Tax Debt

An offer in compromise/IRS Tax Debt Settlement allows you to settle your tax debt for less than the full amount you owe.

It may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship.

The IRS will and can consider your:

1. Ability to pay;

2. Income;

3. Expenses; and

4. Asset equity.

The IRS generally approve an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time.

The Offer in Compromise program is not for everyone. Let us pre-qualify you.

If you use the Pre- Qualifier tool for the IRS Tax Settlement called the Offer in Compromise

The IRS in the process of making modifications to the Pre-Qualifier Tool application.

If you use this tool, please consider making the following adjustments to your displayed results.

• If you enter an amount on Screen 3 Assets, Line 1 which reads “Total bank Balances,” you may reduce this amount by $1000. The result may not be less than zero.

• If you enter an amount on Screen 3, Vehicle 1, you may reduce this amount by $3450. The result may not be less than zero.

• If you enter an amount on Screen 3, Vehicle 2, and you are making a joint offer with a spouse or other party, you may also reduce this amount by $3450. The result may not be less than zero.

This is the latest information.

Make sure you are eligible to settle your IRS Tax Debt though the Offer in Compromise

Before we can consider your offer, you must be current with all filing and payment requirements.

You are not eligible if you are in an open bankruptcy proceeding.

You can use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.

Submitting your offer in compromise to settle your IRS tax debt.

You’ll find step-by-step instructions and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B (PDF).

Your completed offer package must include:

1. Form 433-A (OIC) (individuals) or
2. 433-B (OIC) (businesses) and all required documentation as specified on the forms;

3. Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;

4.$186 application fee (non-refundable); and

5. Initial payment (non-refundable) for each Form 656.

Select a payment option for the offer in compromise/IRS Tax Debt Settlement

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

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.

Periodic Payments to the IRS:

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.

Understand the process of an offer in compromise, IRS tax debt settlement

Important Note – 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.

Los Angeles – IRS Tax Debt Settlement, Offer in Compromise = Affordable  Former IRS Settlement Officer = Los Angeles, California