IRS Tax Debt Reduction, IRS Settlements & Tax Resolution Experts, Former IRS

by Fresh Start Tax | Jul 9, 2013 | Offer in Compromise

If you are looking to resolve your IRS debt through a IRS tax debt reduction program, contact us today and we can go over with you all the IRS settlement and tax resolution procedures.
We are true experts in tax debt reduction and tax settlements.
We are comprised of tax attorneys, certified public accountants and former IRS agents and managers with over 60 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the IRS.
While Internal Revenue Service we not only taught tax law but we also thought the offer in compromise program or the IRS settlement program.
As a result of our years of experience at the Internal Revenue Service we know all the tax procedures, the debt reduction principles and every possible avenue to get a quick and affordable tax solution.
For those of you who are wishing to settle your debt with the Internal Revenue Service you will have to file an offer in compromise.
Approximately 38% of all offers in compromise filed are accepted by the Internal Revenue Service.
There are very specific policies that govern the IRS settlement and the tax reduction program called the offer in compromise.
You will also find on our site a pre-qualifier tool that you can walk through by yourself to find out if you are an eligible and qualified candidate for the program.
 
What is an offer in compromise
 
An offer in compromise 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 Internal Revenue Service will consider your unique set of facts and circumstances. They mainly will consider your:

•     Ability to pay;

•     Income;

•     Expenses; and

•     Asset equity.

 
The Internal Revenue Service will 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.
If you hire a tax professional other than Fresh Start Tax llc to help you file an offer, be sure to check his or her qualifications.
 
Make sure you are eligible for a IRS tax debt reduction, IRS Settlement
Before  the Internal Revenue Service 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.
 
Submit your offer in compromise or tax debt reduction forms
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). You can find these forms on the fresh start tax website.
 
Your completed offer package must will include:

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

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

•     $150 application fee (non-refundable); and

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

 
 
Select a payment option for a IRS Tax Debt Reduction or IRS 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 Payment: 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 for a IRS Tax Debt Reduction or a IRS Settlement
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.

 
Contact us today to learn more about the IRS tax debt reduction called the offer in compromise.
We are one of the nations premier firms for IRS tax settlements. We are tax resolution experts. We are affordable and experience.
 
IRS Tax Debt Reduction, IRS Settlements & Tax Resolution Experts, Former IRS
 
We have over 206 years professional tax experience in over 60 years of working directly for the Internal Revenue Service. We are A+ rated by the Better Business Bureau and have been practicing since 1982