by Jim Magary | Jan 6, 2016 | Tax Help
We are an affordable professional tax firm with over 65 years of direct IRS work experience. Since 1982.
We are tax experts in all IRS matters including the OFFER IN COMPROMISE PROGRAM. The answer is yes you can settle with IRS for pennies on the dollar but read this entire post. Everyone wants to settle with IRS but there is a very specific format and methodology that must be followed.
You could hear the truth about the offer in compromise program when you call us.
There are many myths about the pennies on the dollar program so you need to hear the truth before spending any money.
I was a former IRS agent and teaching instructor.
I have heard countless horror stories from taxpayers who called me about firms that have ripped them off promising settlements.
There is a very specific system and methodology to get an offer in compromise approved for pennies on the dollar. Last year 38,000 taxpayers had their cases accepted.
As a former IRS agent I taught the offer in compromise program at the district training center as a former employee.
The question is pennies on the dollar possible?
Yes it is as a matter of fact, over 38,000 taxpayers got their debt settled with the Internal Revenue Service for average settlement of $6500 last year. There were a total of 78,000 applications for the pennies on the dollar, offer in compromise program last year.
With that being said there is much to say about this pennies on the dollar program called the offer in compromise.
Not everybody is eligible for the pennies on the dollar, offer in compromise program. At our firm we will take no clients money until we are no they are a true candidate for the settlement program.
There are many myths about the offer in compromise so IRS and in their great wisdom provides a pre-qualifier tool to find out if taxpayers are eligible for the offer in compromise program so taxpayers do not give their hard-earned money to unsuspecting tax firms promising tax settlements.
I would suggest anyone who wants to go ahead and settle their tax debt through the pennies on the dollar, offer in compromise program contact an experienced an honest tax professional, have them walk them through the pre-qualifier tool before they give their money to anybody.
If you have any questions or issues about the offer in compromise program to settle your debt for pennies on the dollar, call us today and we will review your case to let you know if you are a qualified and suitable candidate.
We are a full-service firm with an expertise in any IRS tax debt matter including offering compromise.
One base rule for the offer in compromise program. IRS is only concerned about your income and assets. this includes your equity in your home, pension plans are IRA’s.
One nice thing about the IRS accepting your offer in compromise is that once you meet the terms of the settlement they will release your federal tax lien.
Below you will find out what you need to know about the offer in compromise program.
OIC Program to Settle For Pennies On a Dollar
What is a OIC?
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 will consider your unique set of facts and circumstances:
• Ability to pay;
• Income;
• Expenses; and
• Asset equity.
IRS generally approves an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time.
Make sure you are eligible to settle for pennies on a dollar!
Before the 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 to settle for pennies on a dollar
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 for the pennies on a dollar OIC
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 of OIC
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.
Call us today for free initial tax consultation to see if you are a certified an eligible candidate for the offer in compromise program.
We call our office you will speak to a true IRS tax professional. So yes pennies on a dollar is possible, however make sure you’re a qualified candidate. When you call our office you will hear the truth about any IRS question you ask.
Give your money to no firm until you understand the process for pennies on the dollar.
Settle With IRS for Pennies On a Dollar + Former IRS Explains the Offer in Compromise
by Fresh Start Tax | Jan 6, 2016 | Tax Help
We are a affordable professional tax firm with over 65 years of direct IRS work experience. Since 1982.
I am a former IRS agent and teaching instructor. As a former IRS agent I taught the offer in compromise program at the district training center as a former employee.
I am an IRS tax expert when it comes to the IRS program of the offer in compromise or some taxpayers like to put it, pennies on the dollar.
The question is pennies on the dollar possible?
Yes it is as a matter of fact, over 38,000 taxpayers got their debt settled with the Internal Revenue Service for average settlement of $6500 last year.
With that being said there is much to say about this pennies on the dollar program called the offer in compromise.
Not everybody is eligible for the pennies on the dollar, offer in compromise program.
There are many myths about the offer in compromise so IRS and in their great wisdom provides a pre-qualifier tool to find out if taxpayers are eligible for the offer in compromise program so taxpayers do not give their hard-earned money to unsuspecting tax firms promising tax settlements.
I would suggest anyone who wants to go ahead and settle their tax debt through the pennies on the dollar, offer in compromise program contact an experienced an honest tax professional, have them walk them through the pre-qualifier tool before they give their money to anybody.
If you have any questions or issues about the offer in compromise program to settle your debt for pennies on the dollar, call us today and we will review your case to let you know if you are a qualified and suitable candidate.
We are a full-service firm with an expertise in any IRS tax debt matter including offering compromise.
One base rule for the offer in compromise program. IRS is only concerned about your income and assets. this includes your equity in your home, pension plans are IRA’s.
One nice thing about the IRS accepting your offer in compromise is that once you meet the terms of the settlement they will release your federal tax lien.
Below you will find out what you need to know about the offer in compromise program.
OIC
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 will consider your unique set of facts and circumstances:
• Ability to pay;
• Income;
• Expenses; and
• Asset equity.
IRS generally approves 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.
Make sure you are eligible
Before the 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
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 for the pennies on a dollar OIC
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 of OIC
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.
Call us today for free initial tax consultation to see if you are a certified an eligible candidate for the offer in compromise program.
We call our office you will speak to a true IRS tax professional. So yes pennies on a dollar is possible, however make sure you’re a qualified candidate.
Give your money to no firm until you understand the process for pennies on the dollar.
Can You Settle IRS For Pennies on a Dollar + Former IRS Explains + Offer in Compromise Program
by Jim Magary | Jan 6, 2016 | Tax Help
We are an affordable professional firm that can offer you options in resolving IRS back taxes. We know all the programs.
There are various programs available for people who cannot pay back taxes. Millions of taxpayers owe taxes each and every year.
Upon your free consultation we will review your current financial statement help make a determination which program works best for you. There are affordable tax option program available.
Since 1982 we have been resolving back tax issues for countless thousands of taxpayers. Our firm is composed of tax lawyers, CPAs, and former IRS agents.
Our former IRS agents and managers have logged over 65 years working directly for their former employer in positions of management, supervisors and teaching instructors.
We also were on-the-job instructors for new IRS employees.
We know the IRS systems and protocols inside and out and know every option available in resolving IRS tax debt if you owe back taxes. Please keep in mind all tax returns will need to be filed.
Being a former agent all taxpayer should know IRS is very methodical on the way they resolve tax debt for all taxpayers across all spectrums. If money is owed to the Internal Revenue Service as a general rule, IRS will want a currently documented financial statement. That IRS financial statement will most likely be on a form 433F, 433 a.
Most of the cases are worked by the ACS unit which are basically boiler/call center rooms operations to collect money for the IRS.
IRS has approximately 14 call centers throughout the US.
Any state call center may work your case. 99% of all open IRS collection cases are worked through call centers and not in the local office as taxpayers may think. Plan to wait a long time on the phone.
When calling the ACS, you will speak directly to an agent who will work your case and hopefully attempt to close it. If your case is in the ACS unit they will require form 433F. when calling the ACS unit taxpayers need to have their current financial statements and all documentation ready to fax the IRS.
If the financial statements are not fully documented in all likelihood they will not be, you have to call and get another agent on the line, probably in another call center and work the case.
This is why it helps to have a seasoned tax practitioner work your case because they know exactly what it takes to close the case and to get the best result.
If the case goes to the field in a revenue officer gets the case you will fill out financial statement form 433 a. Usually much larger dollar cases go to field offices or experience IRS agents can work them and determine your fate.
IRS Financial Statements Are Key to Success
Your financial statement generally determines the outcome of your case. The best results are obtained from professional companies who have years of experience have dealt with the IRS repeatedly on a daily basis. firms understand the protocols and exactly how IRS will close their case and what work is needed.
Your financial statement will need to be completely documented along with bank statements, pay stubs, and copies of all your expenses to verify and certify your financial statement is correct.
After IRS does a cursory review of your financial statement documentation there are two categories taxpayers are generally put in.
How Cases are Closed by the IRS
As a general rule:
1.40% of all taxpayers who will owe back tax debt are placed in a non-collectible file because they simply don’t have the money to pay the tax.
When you call us we will review this non-collectible or hardship status in detail. You will speak to a very seasoned and experienced IRS tax professional for no charge on consultation
2.6.5 million taxpayers enter monthly payment agreements that will last a determined amount of time. Another interesting note of interest, over 40% of all IRS installment agreements are broken within the first year.
3. Others are eligible to settle their tax debt to the offer in compromise program known to some taxpayers as the pennies on the dollar settlement.
The Internal Revenue Service except the 38,000 offers in compromise last year for an average of $6500 per case.
It is also important you have all tax returns filed on the system. For certain type cases within the IRS system they may not work your case until all tax returns are filed.
Call us today for a free initial tax consultation we will walk you through the various programs to resolve your tax debt.
We have over 206 years of professional tax experience and are true tax specialty experts in the solution of all Internal Revenue Service matters. when you call our office you will speak directly to true IRS tax professionals. So if you owe IRS back taxes we will review with you every single available program that IRS has.
Owe Back Taxes Help = IRS Back Tax Programs = Affordable Former IRS
by Jim Magary | Jan 6, 2016 | Tax Help
We are a affordable professional firm that can offer you options in resolving IRS back taxes. A plus rated BBB.
Since 1982 we have been resolving back t issues for countless thousands of taxpayers. Our firm is composed of tax lawyers, CPAs, and former IRS agents. Let our years of experience work for you to get the result you’re looking for.
Our former IRS agents and managers have logged over 65 years working directly for their former employer in positions of management, supervisors and teaching instructors.
We also were on-the-job instructors for new IRS employees. We know the IRS systems and protocols inside and out and know every option available in resolving IRS tax debt if you owe back taxes.
IRS Solution Protocol
Being a former agent all taxpayer should know IRS is very methodical on the way they resolve tax debt for all taxpayers across all spectrums. If money is owed to the Internal Revenue Service as a general rule, IRS will want a currently documented financial statement. That IRS financial statement will most likely be on a form 433F, 433 a.
Most of the cases are worked by the ACS unit which are basically boiler/call center rooms operations to collect money for the IRS.
IRS has approximately 14 call centers throughout the US. Any state call center may work your case. 99% of all open IRS collection cases are worked through call centers and not in the local office as taxpayers may think. Plan to wait a long time on the phone.
When calling the ACS, you will speak directly to an agent who will work your case and hopefully attempt to close it. If your case is in the ACS unit they will require form 433F. when calling the ACS unit taxpayers need to have their current financial statements and all documentation ready to fax the IRS.
If the financial statements are not fully documented in all likelihood they will not be, you have to call and get another agent on the line, probably in another call center and work the case. This is why it helps to have a seasoned tax practitioner work your case because they know exactly what it takes to close the case and to get the best result.
If the case goes to the field in a revenue officer gets the case you will fill out financial statement form 433 a. Usually much larger dollar cases go to field offices or experience IRS agents can work them and determine your fate.
IRS Financial Statements Are Key to Successes
Your financial statement generally determines the outcome of your case. The best results are obtained from professional companies who have years of experience have dealt with the IRS repeatedly on a daily basis. firms understand the protocols and exactly how IRS will close their case and what work is needed.
Your financial statement will need to be completely documented along with bank statements, pay stubs, and copies of all your expenses to verify and certify your financial statement is correct.
After IRS does a cursory review of your financial statement documentation there are two categories taxpayers are generally put in.
How Cases are Closed
As a general rule:
1.40% of all taxpayers who will owe back tax debt are placed in a non-collectible file because they simply don’t have the money to pay the tax. When you call us we will review this non-collectible or hardship status in detail.
2.6.5 million taxpayers enter monthly payment agreements that will last a determined amount of time.
3. Others are eligible to settle their tax debt to the offer in compromise program known to some taxpayers as the pennies on the dollar settlement.
The Internal Revenue Service except the 38,000 offers in compromise last year for an average of $6500 per case.
It is also important you have all tax returns filed on the system. For certain type cases within the IRS system they may not work your case until all tax returns are filed.
Call us today for a free initial tax consultation we will walk you through the various programs to resolve your tax debt.
We can prepare any and all back tax returns and can represent you during any IRS tax audit. We are a full service tax firm of all work done in-house.
We have over 206 years of professional tax experience and are true tax specialty experts in the solution of all Internal Revenue Service matters.
IRS Tax Solutions on Owing IRS Back Taxes + Affordable Tax Resolutions + Former IRS
by Fresh Start Tax | Jan 6, 2016 | Tax Help
We are the affordable professional tax firm that can permanently resolve your IRS Tax Debt and deal with problems regarding owing back taxes.
Since 1982 we have been resolving back t issues for countless thousands of taxpayers. Our firm is composed of tax lawyers, CPAs, and former IRS agents.
Our former IRS agents and managers have logged over 65 years working directly for their former employer in positions of management, supervisors and teaching instructors. We also were on-the-job instructors for new IRS employees. We know the IRS systems and protocols inside and out and know every option available in resolving IRS tax debt.
How Your Case is Worked
Being a former agent all taxpayer should know IRS is very methodical on the way they resolve tax debt for all taxpayers across all spectrums. If money is owed to the Internal Revenue Service as a general rule, IRS will want a currently documented financial statement. That IRS financial statement will most likely be on a form 433F, 433 a.
Most of the cases are worked by the ACS unit which are basically boiler/call center rooms operations to collect money for the IRS.
IRS has approximately 14 call centers throughout the US. Any state call center may work your case. 99% of all open IRS collection cases are worked through call centers and not in the local office as taxpayers may think. Plan to wait a long time on the phone.
When calling the ACS, you will speak directly to an agent who will work your case and hopefully attempt to close it. If your case is in the ACS unit they will require form 433F. when calling the ACS unit taxpayers need to have their current financial statements and all documentation ready to fax the IRS.
If the financial statements are not fully documented in all likelihood they will not be, you have to call and get another agent on the line, probably in another call center and work the case. This is why it helps to have a seasoned tax practitioner work your case because they know exactly what it takes to close the case and to get the best result.
If the case goes to the field in a revenue officer gets the case you will fill out financial statement form 433 a. Usually much larger dollar cases go to field offices or experience IRS agents can work them and determine your fate.
Financial Statement Are Key to Successes
Your financial statement generally determines the outcome of your case. The best results are obtained from professional companies who have years of experience have dealt with the IRS repeatedly on a daily basis. firms understand the protocols and exactly how IRS will close their case and what work is needed.
Your financial statement will need to be completely documented along with bank statements, pay stubs, and copies of all your expenses to verify and certify your financial statement is correct.
After IRS does a cursory review of your financial statement documentation there are two categories taxpayers are generally put in.
As a general rule
1.40% of all taxpayers who will owe back tax debt are placed in a non-collectible file because they simply don’t have the money to pay the tax. When you call us we will review this non-collectible or hardship status in detail.
2.6.5 million taxpayers enter monthly payment agreements that will last a determined amount of time.
Others are eligible to settle their tax debt to the offer in compromise program known to some taxpayers as the pennies on the dollar settlement. The Internal Revenue Service except the 38,000 offers in compromise last year for an average of $6500 per case.
It is also important you have all tax returns filed on the system. For certain type cases within the IRS system they may not work your case until all tax returns are filed.
Call us today for a free initial tax consultation we will walk you through the various programs to resolve your tax debt.
We can prepare any and all back tax returns and can represent you during any IRS tax audit.
We are a full service tax firm of all work done in-house.
We have over 206 years of professional tax experience in our true tax specialty experts in the solution of all Internal Revenue Service matters.
How To Deal With Owing IRS Back Taxes + Affordable Tax Solutions + Former IRS
by Jim Magary | Jan 6, 2016 | Tax Help
We are the affordable professional tax firm that can permanently resolve your IRS Tax Debt and deal with problems regarding owing back taxes.
Since 1982 we have been resolving back t issues for countless thousands of taxpayers. Our firm is composed of tax lawyers, CPAs, and former IRS agents.
Our former IRS agents and managers have logged over 65 years working directly for their former employer in positions of management, supervisors and teaching instructors. We also were on-the-job instructors for new IRS employees. We know the IRS systems and protocols inside and out and know every option available in resolving IRS tax debt.
How Your Case is Worked
Being a former agent all taxpayer should know IRS is very methodical on the way they resolve tax debt for all taxpayers across all spectrums. If money is owed to the Internal Revenue Service as a general rule, IRS will want a currently documented financial statement. That IRS financial statement will most likely be on a form 433F, 433 a.
Most of the cases are worked by the ACS unit which are basically boiler/call center rooms operations to collect money for the IRS.
IRS has approximately 14 call centers throughout the US. Any state call center may work your case. 99% of all open IRS collection cases are worked through call centers and not in the local office as taxpayers may think. Plan to wait a long time on the phone.
When calling the ACS, you will speak directly to an agent who will work your case and hopefully attempt to close it. If your case is in the ACS unit they will require form 433F. when calling the ACS unit taxpayers need to have their current financial statements and all documentation ready to fax the IRS.
If the financial statements are not fully documented in all likelihood they will not be, you have to call and get another agent on the line, probably in another call center and work the case. This is why it helps to have a seasoned tax practitioner work your case because they know exactly what it takes to close the case and to get the best result.
If the case goes to the field in a revenue officer gets the case you will fill out financial statement form 433 a. Usually much larger dollar cases go to field offices or experience IRS agents can work them and determine your fate.
Financial Statement Are Key to Successes
Your financial statement generally determines the outcome of your case. The best results are obtained from professional companies who have years of experience have dealt with the IRS repeatedly on a daily basis. firms understand the protocols and exactly how IRS will close their case and what work is needed.
Your financial statement will need to be completely documented along with bank statements, pay stubs, and copies of all your expenses to verify and certify your financial statement is correct.
After IRS does a cursory review of your financial statement documentation there are two categories taxpayers are generally put in.
As a general rule
1.40% of all taxpayers who will owe back tax debt are placed in a non-collectible file because they simply don’t have the money to pay the tax. When you call us we will review this non-collectible or hardship status in detail.
2.6.5 million taxpayers enter monthly payment agreements that will last a determined amount of time.
Others are eligible to settle their tax debt to the offer in compromise program known to some taxpayers as the pennies on the dollar settlement. The Internal Revenue Service except the 38,000 offers in compromise last year for an average of $6500 per case.
It is also important you have all tax returns filed on the system. For certain type cases within the IRS system they may not work your case until all tax returns are filed.
Call us today for a free initial tax consultation we will walk you through the various programs to resolve your tax debt.
We can prepare any and all back tax returns and can represent you during any IRS tax audit.
We are a full service tax firm of all work done in-house.
We have over 206 years of professional tax experience in our true tax specialty experts in the solution of all Internal Revenue Service matters.
How To Deal With Owing IRS Back Taxes + Affordable Tax Solutions + Former IRS
