by Fresh Start Tax | Oct 31, 2018 | Tax Help
Before you waste your money, it’s prudent for you to read this blog about, Is the offer in compromise right for you?
There are hundreds or maybe a thousand firms promising IRS will settle your tax debt for pennies on the dollar.
While this is true, there are many scrupulous companies out there that simply take your money and you have a case that has no chance of settlement. I know because I receive hundreds of calls a year about tax resolution firms that take money from suspecting taxpayers hoping to settle their debt only to find out they have been ripped off.
Make sure this does not happen to you.
A simple call to our office, free tax consultation, will tell you the truth about is the offer in compromise program right for you.
If you want to know the truth about the offer in compromise program I am the person you need to speak to. Since 1982.
I am a former IRS agent and teaching instructor with my former boss of the offer in compromise program.
I know the system inside and out I worked it I’ve trained others and have accepted offers in compromise for the federal government.
I am a true IRS tax expert, national speaker, and have been on FOXBusiness news and other outlets speaking about different matters about Internal Revenue Service.
There are many myths about the offer in compromise program.
There are strict standards that the IRS employee before they accept an offer in compromise. I know because I’ve both accepted offers in compromise taught new employees to accept the offer in compromise or reject them and I know the system inside and out.
I suggest that every client or taxpayer before they file an offer in compromise either do one of two things.
Number one, call a true tax expert who knows the offer in compromise inside out or number two, to fill out the IRS pre-qualifier tool for the offer in compromise.
If you’re calling a professional firm you want to make sure the representative has at least filed 100 offers.
It takes a lot of experience and knowledge to get an offer in compromise through. some are very simple and don’t need a lot of experience while others demand. expertise skill level.
The Internal Revenue Service spends several hours, much more than you think to accept an offer in compromise. As a general rule, the average agent can spend between 20 to 40 hours to accept an offer in compromise.
After that takes place, the revenue officer must convince their local supervisor, the area manager, and the General Counsel of Internal Revenue Service to accept the offer.
It literally goes back and forth in the system. Some exceptions do exist. Dollar amount has a lot to do in the direction your offer will take.
Why? because all offers and compromise are a matter of public record.
That public record is available at eight regional IRS offices in the United States. Even though offers are open to public inspection only one person last year looked through the IRS offers in compromise files. IRS is not made electronic copies for review.
There is a base rule for Internal Revenue Service accepting an offer in compromise.
You must give IRS the total equity in all your assets before IRS will consider or contemplate the acceptance. Some exceptions exist, assets consist of houses, pension plans, stock, business valuations, IRS wants to make sure you’re actually borrowing the money to settle.
If you are interested in filing an offer in compromise you can call us today for a free initial tax consultation and I will walk you through the process of the true IRS debt settlement called the offer in compromise.
FACTS:
IRS last year accepted approximately 30,000 offers in compromise in approximately 75,000 were accepted. The average settlement was $9500.
Don’t let this average settlement fool you, it’s based on an average of all the offers accepted.
Offers in compromise are excepted by formula not by judgment.
The basic formula a:re the total value of your assets times what you have left over a month on a current income and expense statement times the number of months left in the statute. Some exceptions do apply
Due diligence that can be used by IRS.
You want to make sure your financial statement is accurate.
IRS has a host of web-based tools that can search your assets, places were you work, your income, your real estate records, your car records, your business records, insurance records , financial statement you’ve given institutions, credit reports and financial statements you’ve given the credit companies. The amount of due diligence that the IRS spends working on cases depend strictly on the dollar amount of the tax debt. If you over hundred thousand dollars IRS spends a great deal more honor offer case.
Make sure you are very honest in the submission of your offer in compromise
So. what is an offer in compromise, a tax debt settlement
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.
IRS consider your unique set of facts and circumstances:
• Ability to pay;
• Income;
• Expenses; and
• Asset equity.
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.
If you hire a tax professional to help you file an offer, be sure to check his or her qualifications.
Make sure you are eligible to file:
Before IRS 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.
Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.
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 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;
• $186 application fee (non-refundable); and
• Initial payment (non-refundable) for each Form 656.
Select a payment option
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. If your offer is accepted, you will receive written confirmation. Any remaining balance due on the offer is paid 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. See your application package for details.
Understand the process
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.
If your offer is accepted
• You must meet all the Offer Terms listed in Section 8 of Form 656, including filing all required tax returns and making all payments;
• Any refunds due within the calendar year in which your offer is accepted will be applied to your tax debt;
• Federal tax liens are not released until your offer terms are satisfied; and
• Certain offer information is available for public review by requesting a copy of a public inspection file.
If your offer is rejected
• You may appeal a rejection within 30 days using Request for Appeal of Offer in Compromise, Form 13711 (PDF).
Call us today for a free initial tax consultation and we will walk you through the system to get your offer in compromise accepted if you are a credible candidate for the program.
We only file offers in compromise if you are a suitable candidates.
Remember, offers in compromises are not for all people. You must speak to true tax experts to make sure you qualify and you should never give your money to any firm unless you speak to the person and you truly understand how IRS will accept your financial statement and accept the offer in compromise.
Is the Offer in Compromise Right For You, Former IRS Agent Explains
by Fresh Start Tax | Oct 31, 2018 | Tax Help
If you want to know the truth about the offer in compromise program I am the person you need to speak to. Since 1982.
I am a former IRS revenues officer who worked out of the local South Florida IRS offices.
I was commissioned by Internal Revenue Service to not only work the offer in compromise, settle IRS tax debt but also to train those qualified to work the program of debt settlement.
I am not only local but a national tax expert in the offer in compromise program. I have been on FOXBusiness news NBC, and have commented on Bloomberg and the Wall Street journal on various IRS issues.
I am a former IRS agent and teaching instructor with my former boss of the offer in compromise program.
I know the system inside and out I worked it I’ve trained others and have accepted offers in compromise for the federal government.
I am a true IRS tax expert, national speaker, and have been on FOXBusiness news and other outlets speaking about different matters about Internal Revenue Service.
There are many myths about the offer in compromise program.
There are strict standards that the IRS employee before they accept an offer in compromise. I know because I’ve both accepted offers in compromise taught new employees to accept the offer in compromise or reject them and I know the system inside and out.
I suggest that every client or taxpayer before they file an offer in compromise either do one of two things.
Number one, call a true tax expert who knows the offer in compromise inside out or number two, to fill out the IRS pre-qualifier tool for the offer in compromise.
If you’re calling a professional firm you want to make sure the representative has at least filed 100 offers. It takes a lot of experience and knowledge to get an offer in compromise through. some are very simple and don’t need a lot of experience while others demand. expertise skill level.
The Internal Revenue Service spends several hours, much more than you think to accept an offer in compromise. As a general rule, the average agent can spend between 20 to 40 hours to accept an offer in compromise.
After that takes place, the revenue officer must convince their local supervisor, the area manager, and the General Counsel of Internal Revenue Service to accept the offer.
It literally goes back and forth in the system. Some exceptions do exist. Dollar amount has a lot to do in the direction your offer will take.
Why? because all offers and compromise are a matter of public record.
That public record is available at eight regional IRS offices in the United States. Even though offers are open to public inspection only one person last year looked through the IRS offers in compromise files. IRS is not made electronic copies for review.
There is a base rule for Internal Revenue Service accepting an offer in compromise.
You must give IRS the total equity in all your assets before IRS will consider or contemplate the acceptance.
Some exceptions exist, assets consist of houses, pension plans, stock, business valuations, IRS wants to make sure you’re actually borrowing the money to settle.
If you are interested in filing an offer in compromise you can call us today for a free initial tax consultation and I will walk you through the process of the true IRS debt settlement called the offer in compromise.
FACTS about the OIC:
IRS last year accepted approximately 30,000 offers in compromise in approximately 75,000 were accepted. The average settlement was $9500.
Don’t let this average settlement fool you, it’s based on an average of all the offers accepted.
Offers in compromise are excepted by formula not by judgment.
The basic formula are the total value of your assets times what you have left over a month on a current income and expense statement times the number of months left in the statute. Some exceptions do apply
Due diligence that can be used by IRS.
You want to make sure your financial statement is accurate.
IRS has a host of web-based tools that can search your assets, places were you work, your income, your real estate records, your car records, your business records, insurance records , financial statement you’ve given institutions, credit reports and financial statements you’ve given the credit companies.
Make sure you are very honest in the submission of your offer in compromise
So what is an offer in compromise, a tax debt settlement
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.
IRS consider your unique set of facts and circumstances:
• Ability to pay;
• Income;
• Expenses; and
• Asset equity.
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.
If you hire a tax professional to help you file an offer, be sure to check his or her qualifications.
Make sure you are eligible to file:
Before IRS 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.
Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.
Submitting your offer in compromise:
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 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;
• $186 application fee (non-refundable); and
• Initial payment (non-refundable) for each Form 656.
Select a payment option
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. If your offer is accepted, you will receive written confirmation. Any remaining balance due on the offer is paid 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. See your application package for details.
Understand the process
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.
If your offer is accepted
• You must meet all the Offer Terms listed in Section 8 of Form 656, including filing all required tax returns and making all payments;
• Any refunds due within the calendar year in which your offer is accepted will be applied to your tax debt;
• Federal tax liens are not released until your offer terms are satisfied; and
• Certain offer information is available for public review by requesting a copy of a public inspection file.
If your offer is rejected
• You may appeal a rejection within 30 days using Request for Appeal of Offer in Compromise, Form 13711 (PDF).
Call us today for a free initial tax consultation and we will walk you through the system to get your offer in compromise accepted if you are a credible candidate for the program.
We only file offers in compromise if you are a suitable candidate
Offer in Compromise, Tax Debt Settlement + Former South Florida IRS Agent Can Help + Ft. Lauderdale, Miami, Palm Beaches, Boca Raton, Aventura
by Fresh Start Tax | Oct 31, 2018 | Tax Help
If you want to know the truth about the offer in compromise program I am the person you need to speak to. Since 1982.
I am a former IRS agent and teaching instructor with my former boss of the offer in compromise program.
I know the system inside and out I worked it I’ve trained others and have accepted offers in compromise for the federal government.
I am a true IRS tax expert, national speaker, and have been on FOXBusiness news and other outlets speaking about different matters about Internal Revenue Service.
There are many myths about the offer in compromise program.
There are strict standards that the IRS employee before they accept an offer in compromise. I know because I’ve both accepted offers in compromise taught new employees to accept the offer in compromise or reject them and I know the system inside and out.
I suggest that every client or taxpayer before they file an offer in compromise either do one of two things.
Number one, call a true tax expert who knows the offer in compromise inside out or number two, to fill out the IRS pre-qualifier tool for the offer in compromise.
If you’re calling a professional firm you want to make sure the representative has at least filed 100 offers. It takes a lot of experience and knowledge to get an offer in compromise through. some are very simple and don’t need a lot of experience while others demand. expertise skill level.
The Internal Revenue Service spends several hours, much more than you think to accept an offer in compromise. As a general rule, the average agent can spend between 20 to 40 hours to accept an offer in compromise.
After that takes place, the revenue officer must convince their local supervisor, the area manager, and the General Counsel of Internal Revenue Service to accept the offer.
It literally goes back and forth in the system. Some exceptions do exist. Dollar amount has a lot to do in the direction your offer will take.
Why? because all offers and compromise are a matter of public record.
That public record is available at eight regional IRS offices in the United States. Even though offers are open to public inspection only one person last year looked through the IRS offers in compromise files. IRS is not made electronic copies for review.
There is a base rule for Internal Revenue Service accepting an offer in compromise.
You must give IRS the total equity in all your assets before IRS will consider or contemplate the acceptance. Some exceptions exist, assets consist of houses, pension plans, stock, business valuations, IRS wants to make sure you’re actually borrowing the money to settle.
If you are interested in filing an offer in compromise you can call us today for a free initial tax consultation and I will walk you through the process of the true IRS debt settlement called the offer in compromise.
FACTS:
IRS last year accepted approximately 30,000 offers in compromise in approximately 75,000 were accepted. The average settlement was $9500.
Don’t let this average settlement fool you, it’s based on an average of all the offers accepted.
Offers in compromise are excepted by formula not by judgment.
The basic formula are the total value of your assets times what you have left over a month on a current income and expense statement times the number of months left in the statute. Some exceptions do apply
Due diligence that can be used by IRS.
You want to make sure your financial statement is accurate.
IRS has a host of web-based tools that can search your assets, places were you work, your income, your real estate records, your car records, your business records, insurance records , financial statement you’ve given institutions, credit reports and financial statements you’ve given the credit companies.
Make sure you are very honest in the submission of your offer in compromise
So what is an offer in compromise, a tax debt settlement
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.
IRS consider your unique set of facts and circumstances:
• Ability to pay;
• Income;
• Expenses; and
• Asset equity.
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.
If you hire a tax professional to help you file an offer, be sure to check his or her qualifications.
Make sure you are eligible to file:
Before IRS 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.
Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.
Submitting your offer in compromise:
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 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;
• $186 application fee (non-refundable); and
• Initial payment (non-refundable) for each Form 656.
Select a payment option
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. If your offer is accepted, you will receive written confirmation. Any remaining balance due on the offer is paid 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. See your application package for details.
Understand the process
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.
If your offer is accepted
• You must meet all the Offer Terms listed in Section 8 of Form 656, including filing all required tax returns and making all payments;
• Any refunds due within the calendar year in which your offer is accepted will be applied to your tax debt;
• Federal tax liens are not released until your offer terms are satisfied; and
• Certain offer information is available for public review by requesting a copy of a public inspection file.
If your offer is rejected
• You may appeal a rejection within 30 days using Request for Appeal of Offer in Compromise, Form 13711 (PDF).
Call us today for a free initial tax consultation and we will walk you through the system to get your offer in compromise accepted if you are a credible candidate for the program.
We only file offers in compromise if you are a suitable candidate
Former IRS Agent Explain How To Settle With the IRS Through The Offer in Compromise
by Fresh Start Tax | Oct 31, 2018 | Tax Help
The chief way to settle your debt with the Internal Revenue Service is to file an offer in compromise. that is the program to settle with IRS.
There are many myths about the offer in compromise program. There are strict standards that the IRS employee before they accept an offer in compromise. I know because I’ve both accepted offers in compromise taught new employees to accept the offer in compromise or reject them and I know the system inside and out.
I suggest that every client or taxpayer before they file an offer in compromise either do one of two things.
Number one, call a true tax expert who knows the offer in compromise inside out or to fill out the IRS pre-qualifier tool for the offer in compromise.
If you’re calling a professional firm you want to make sure the representative has at least filed 100 offers. It takes a lot of experience and knowledge to get an offer in compromise through. some are very simple and don’t need a lot of experience while others demand. expertise skill level.
The Internal Revenue Service spends several hours, much more than you think to accept an offer in compromise. As a general rule, the average agent can spend between 20 to 40 hours to accept an offer in compromise.
After that takes place, the revenue officer must convince their local supervisor, the area manager, and the General Counsel of Internal Revenue Service to accept the offer.
It literally goes back and forth in the system. Some exceptions do exist. Dollar amount has a lot to do in the direction your offer will take.
Why? because all offers and compromise are a matter of public record.
That public record is available at eight regional IRS offices in the United States. Even though offers are open to public inspection only one person last year looked through the IRS offers in compromise files. IRS is not made electronic copies for review.
There is a base rule for Internal Revenue Service accepting an offer in compromise.
You must give IRS the total equity in all your assets before IRS will consider or contemplate the acceptance. Some exceptions exist, assets consist of houses, pension plans, stock, business valuations, IRS wants to make sure you’re actually borrowing the money to settle.
If you are interested in filing an offer in compromise you can call us today for a free initial tax consultation and I will walk you through the process of the true IRS debt settlement called the offer in compromise.
FACTS:
IRS last year accepted approximately 30,000 offers in compromise in approximately 75,000 were accepted. The average settlement was $9500.
Don’t let this average settlement fool you, it’s based on an average of all the offers accepted.
Offers in compromise are excepted by formula not by judgment.
The basic formula are the total value of your assets times what you have left over a month on a current income and expense statement times the number of months left in the statute. Some exceptions do apply
Due diligence that can be used by IRS.
You want to make sure your financial statement is accurate.
IRS has a host of web-based tools that can search your assets, places were you work, your income, your real estate records, your car records, your business records, insurance records , financial statement you’ve given institutions, credit reports and financial statements you’ve given the credit companies.
Make sure you are very honest in the submission of your offer in compromise
So what is an offer in compromise, a tax debt settlement
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.
IRS consider your unique set of facts and circumstances:
• Ability to pay;
• Income;
• Expenses; and
• Asset equity.
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.
If you hire a tax professional to help you file an offer, be sure to check his or her qualifications.
Make sure you are eligible
Before IRS 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.
Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.
Submit your offer
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 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;
• $186 application fee (non-refundable); and
• Initial payment (non-refundable) for each Form 656.
Select a payment option
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. If your offer is accepted, you will receive written confirmation. Any remaining balance due on the offer is paid 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. See your application package for details.
Understand the process
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.
If your offer is accepted
• You must meet all the Offer Terms listed in Section 8 of Form 656, including filing all required tax returns and making all payments;
• Any refunds due within the calendar year in which your offer is accepted will be applied to your tax debt;
• Federal tax liens are not released until your offer terms are satisfied; and
• Certain offer information is available for public review by requesting a copy of a public inspection file.
If your offer is rejected
• You may appeal a rejection within 30 days using Request for Appeal of Offer in Compromise, Form 13711 (PDF).
Have any questions, call us today for a free initial tax consultation and speak to a true IRS tax expert on how to settle an IRS tax debt with former IRS agents
by Fresh Start Tax | Oct 29, 2018 | Tax Help
As a former IRS agent and teaching instructor I was commissioned by Internal Revenue Service not only to work the offer in compromise program but to teach the program to new IRS agents. As a former agent I accepted offers in compromise and today I submit offers and compromises.
Here is rarely known fact about the offer in compromise, all accepted offers in compromise are open to public inspection.
The offer in compromise is an agreement between the taxpayer and the Internal Revenue
IRS is authorized to settle taxes on one of three grounds.
Number one, the doubt of the tax liability, Number two doubt as too the collectibility and number three can to promote effective tax administration.
If you clearly want to have your offer accepted it is wise to use a former IRS agent and experience tax firm in offers in compromise. There is a very unique expertise you have because you have to fit the IRS structures and methodologies to get an offer in compromise approved. If you are contemplating filing an offer in compromise you may want to talk to Michael D Sullivan at our firm and IRS tax specialist and teaching instructor of the offer in compromise
History of the OIC
In the early 1950s, an employee was indicted for taking bribes from a taxpayer seeking to settle their outstanding tax liability debt.
Pres. Truman directed the Internal Revenue Service to open for public inspection all accepted offers in compromise.
Since that time the number of offers accepted has grown from a few hundred to 25,000 annually are accepted.
To view an offer in compromise file a taxpayer must make an appointment in advance.
Files are stored at one of eight based locations,
Taxpayer’s geographical reference the sites include :
1. Denver
2.Colorado
3. Laguna Niguel California,
4.St. Paul Minnesota,
5.Nashville Tennessee,
6.Buffalo New York,
7.Pittsburgh, Pennsylvania,and
8.Plantation, Florida.
Right now the offer in compromise program is only available on paper-based public inspection and not electronic format recommendation.
Only one individual reviewed the public inspection files last year and no one reviewed the files at all for the first half of 18.
The Internal Revenue Service at this time is looking at recommendations to make these files available through electronic transmission but the details have currently not been worked out.
If you have questions about an offer in compromise, call former IRS agents, managers, and teaching instructors that know the system.
Former IRS Agent + Offers in Compromise Are Open For Public Inspection
by Fresh Start Tax | Oct 29, 2018 | Tax Help
We Can Get Immediate Releases of a Bank Levy, Wage Garnishment Seizures, we can also SETTLE your case at the same time. We Know the System.
We are a local South Florida tax firm that has been practicing since 1982 and we know the exact system to get an immediate IRS tax levy bank seizure released, get your money back and close your case out all at the same time.
We have worked thousands of cases since 1982 and are true IRS tax experts.
We worked out of the local South Florida IRS tax offices as instructors, managers, and supervisors.
No one knows the system like our firm.
Believe it or not, IRS does not want to levy anyone’s paycheck or garnish anyone’s bank account. The last thing IRS wants to do is a government seizure. The Internal Revenue Service manual calls for the process of enforcement. It is through this enforcement method that causes taxpayers to comply with the IRS regulations.
Yes, IRS finds no pleasure in taking anyone’s hard-earned money.As a former IRS agent the last thing I wanted to do was take anyone’s money because I knew the pain it would inflict however it was a necessary tool for the IRS to collect back taxes. and that usually happen simply because people do not call the IRS to resolve their case.
As a former IRS agent and teaching instructor we hated ever to send the levy out but the bottom line is we need to get the taxpayers attention to close the case.
IRS does so because taxpayers have not resolved their IRS problem after IRS has sent a series of four different notices to the last known address the IRS had on file.
IRS usually sends letters out in a series of six-week cycles with the final notice before seizure the last notice. you can tell you where you are in the system by reading the CP or the L on your form.
All IRS notices come with form numbers so it’s easier for the practitioner the IRS tax expert to anticipate the next step.
Part of the problem is twofold, number one, many people have never received the notice because they have moved, or number two, they’ve ignored the IRS letter.
As a special note of interest, you should know that the bank freezes your money for 21 days before sending the check to Internal Revenue Service on the 22nd day. The federal government allows you within that 21 day period to call them give them the information they need and they will release the bank levy seizure.
IRS gets their levy sources off the computer by matching up the W-2s, or 1099s they receive from third-party payor. IRS keeps this information of levy sources for the last six years.
So what can you do to stop the IRS bank levy or wage garnishment on your paycheck or bank account.
The case must be closed off the IRS enforcement computer and Internal Revenue Service uses their own financial statement which is either a 433A, 433F to make determination on how your case will close.
There is an art to the filling out and the documentation of the financial statement. As former IRS agents, managers and teaching instructors we know the exact processes and methodologies to make the taxpayer look in the best light to the Internal Revenue Service.
After years of experience with the Internal Revenue Service we know exactly how IRS is going to value your financial statement and the various outcomes that will occur. we have worked thousands and thousands of IRS cases
Call us today for a free initial tax consultation and we will walk you through the financial statement and documentation required to get the levy released.
As a general rule, we can get your IRS wage levy garnishment released within 24 hours of receiving your current financial statement.
An important notice:
All your tax returns are going to have to be filed with the Internal Revenue Service as a general rule before the Internal Revenue Service will release any levy on a paycheck or wage garnishment. With or without tax records we can prepare all your back tax returns.
How will IRS close your case off of their enforcement computer?
The big question every taxpayer asks is,” how is IRS going to close my case and give me immediate tax relief.”?
After IRS reviews your current financial statement there are generally three closing methods that the Internal Revenue Service will employ.
IRS will either put you into a currently not collectible or suspended status, IRS may determine you as a monthly payment agreement or installment agreement candidate, or a taxpayer can qualify for an offer in compromise.
Two other alternatives do exist the first is the statute of limitations expiration and number to the filing of a bankruptcy.
When you call our office we will review with you every possible closing method and get you an immediate release of your wage garnishment.
We are composed of former IRS agents, managers and teachings instructors.Call us today for free initial tax consultation. where local South Florida tax firm you can come by and visit our offices, Skype us or call and set up an appointment to get immediate relief from an IRS tax levy garnishment or bank levy seizure.
How To Stop a Bank Levy Seizure by IRS : Get Your Money Back Now + former irs agents tell how + Ft. Lauderdale, Miami, Aventura, Palm Beaches, Boca Raton
