IRS Tax Debt Relief – Tax Resolution – Tax Attorneys, Former IRS Essex, Morris, Bergen, Passaic, Union – New Jersey – IRS Experts

December 3, 2012
Written by: Fresh Start Tax

Mike Sullivan

 

IRS Tax Debt Relief – Tax Resolution – Tax Attorneys, Former IRS

Have former IRS Agents, Managers and Instructors completely resolve your IRS tax debt and get you a permanent tax resolution.

We have over 205 years of professional IRS and State Tax Experience and over 60 years of direct work experience at the IRS. We taught Tax Law at the IRS.

We are affordable and friendly.

 

Different Ways to Resolve your case with the IRS

There is a very specific process that the IRS uses to close all outstanding tax debt off of the CADE 2 enforcement computer.

IRS will require a base financial statement. Depending where your case is in the system IRS will either require a 433A or a 433 F financial statement.

In each case the financial statement will need to be fully documented.

Documentation will include but limited to 6 months of bank statements, bills or expenses and proof of income. IRS will compare your expenses to the National and Regional Standards. You can observe those on our website.

 

The three normal closing methods used by the IRS after a review of the documented financial statement are the following:

1. You will qualify for a IRS Hardship,

2. You will qualify for a IRS installment payment,

3. You will be eligible for a tax settlement.
Before you decide whether a tax settlement is right for you, 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.
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). You can find this on our website.

a. Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms,
b. Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;

c. $150 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:

1. Lump Sum Cash.

Submit an initial payment of 20 percent of the total offer amount with your application. You will wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.
2. Periodic Payment.

You will submit your initial payment with your application.You should 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 offer in compromise  process

 

While your offer in compromise  is being evaluated:

1. Your non-refundable payments and fees will be applied to the tax liability,
2. A Notice of Federal Tax Lien may be filed by the IRS,
3. Other IRS collection activities are suspended,
4. The legal assessment and collection period is extended;
5. Make all required tax payments associated with your offer,
6. You are not required to make payments on an existing installment agreement or payment plan and,
7. Your offer  in compromise is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.

 

IRS Tax Debt Relief – Tax Resolution – Tax Attorneys, Former IRS  Essex, Morris, Bergen, Passaic, Union – New Jersey

 

 

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