Negotiate Back Taxes IRS + Former IRS Who Knows System

March 24, 2016
Written by: Jim Magary

 

Fresh Start Tax

 

We are an affordable professional tax firm with over 65 years of direct IRS work experience. Since 1982. Experts IRS experts.

 

How do you win with Internal Revenue Service?  Simply by knowing the system. I am a former IRS agent in teaching instructor of the offer in compromise program.

 

For most people were trying to negotiate with Internal Revenue Service on a balance due should fill out the IRS pre-qualifier tool and as a result will find out ahead of time whether they qualify for a tax debt settlement.

Let’s be honest, who can be more qualified to settle your IRS tax debt than a former IRS agent teaching instructor who taught the offer in compromise program to IRS agents. It is important to know before you begin the process of the tax offer in compromise is to make sure you’re a true offer in compromise tax debt settlement candidate.

 

Last year over 78,000 offers in compromise were filed by taxpayers and over 38% of those were accepted for average of $6500 per case.

 

Keep in mind this is a national average in your case is completely dependent on your individual financial statement. Knowing the formulas that IRS uses is the best way to settle your debt for the lowest amount possible.

We will not file for an offer in compromise unless you are a true candidate for the program.

There is an IRS pre-qualifier tool that we review with our clients before we file for the offer in compromise.

Upon your initial tax consultation we’ll let you know if you are eligible to have an accepted offer in compromise by the Internal Revenue Service.

As a former IRS agent, I was a teaching instructor for the offer in compromise, the IRS tax debt settlement program. Due to the new fresh start tax initiative Internal Revenue Service had made it easier to file for the program. However this program is not for everybody.

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.

The question is pennies on the dollar possible to settle tax debt?

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.

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.

The IRS spends a lot of due diligence before they accept an offer in compromise. It is possible for the IRS to spend over 20 hours working an offer in compromise.

On cases over $100,000 it is typical they will check your credit report for the accuracy of your financial statement. The higher the dollar case the greater the due diligence.

Many people ask why is this process not that simple. The answer is this, all accepted offers in compromise are a matter of public record for one year in the regional office where the offer was accepted.

The Internal Revenue Service does all that it can to make sure there is a matter of consistency within the offer in compromise program if not still be a tremendous public outcry.

Right now there are over 7500 cases in the offer queue to be worked.

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.

Offers in compromise

• Lump Sum Cash Payment:

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:

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 IRS

While your IRS 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 to negotiate your IRS tax debt and win.

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