Settle your Back Taxes with The Offer in Compromise Program 954-492-0088, FORMER AGENT, I TAUGHT THIS PROGRAM AT IRS, HEAR THE TRUTH!
I taught the offer in compromise program as a Former IRS agent. I worked out of the local South Florida IRS field offices. FREE CONSULTATIONS
- IRS accepts 20% of all Offers in Compromise filed.
- IRS received 55,000 offers in compromise last year.
- 90% of those accepted offers come from tax professional who know the system.
The Offer in Compromise is a IRS Tax Program that have lead many to thinking I can settle my taxes for ” pennies on a dollar.” While the statement is true many taxpayers are disappointed when IRS sends out a rejection letter.
Just for the record, as a Former IRS Agent who worked offers in compromise, IRS does everything they can to reject offers in compromise.
The Offer in Compromise requires a great deal of skill and knowledge. The Offer on Compromise is worked much like a IRS tax audit. IRS spends no less than 20 hours working the Offer.
IRS has specialists work the Offer in Compromise Program. These specialist are the highest level of IRS personnel training in financial review and analysis.
As a former IRS Agent I have worked hundreds of Offer in Compromise. Sadly, most taxpayer have no clue what they are getting into.
A word to the wise, never submit an offer in compromise without having a full evaluation to see whether you qualify for the program.
By submitting the offer in compromise you are giving the IRS a financial road map to your life and it can become a valuable collection tool if your offer in compromise goes south.
A 433-OIC is required to complete the evaluation.
The basic rules for Offers in Compromise, you must give IRS all your equity in all your assets. IRS will also complete an income analysis to determine monthly payments.
Offer in Compromise – Payment Options
Your initial payment will vary based on your offer and the payment option you choose:
- Option 1:
- Submit an initial payment of 20 percent of the total offer amount with your application. Then you can wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.
- Option 2:
- You can submit your initial payment with your application.You can then 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 Offer in Compromise Program and the Process
While your offer in compromise is being evaluated by the IRS;
- 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 a free tax evaluation.
Miami, Ft.Lauderdale, Palm Beach, South Florida – IRS Tax Experts
