IRS Tax Debt Settlement Attorneys, Lawyers Resolve IRS Tax Debt, Former IRS – Tax Resolution Specialists 1-866-700-1040
If you are looking to Settle your IRS Tax Debt call Fresh Start Tax LLC and speak directly to Attorneys, Lawyers, Former IRS Agents, Managers and Instructors that taught the Offer in Compromise Program at the IRS.
We have over 60 years of working directly for the Internal Revenue Service and the local, district, and regional tax offices of the Internal Revenue Service. We also taught tax law as well as the IRS tax debt settlement program called the offer in compromise.
Let our years of IRS work experience help settle your IRS tax debt.
Yes, that’s right we taught the Tax Debt Settlement Program at the IRS to new IRS Agents. We will qualify your case before submitting a offer to the IRS. Do not get ripped off by scam companies claiming to settle your case for pennies on a dollar.
As a result, we know all the tax policies, tax systems and programs to make this process work for you if you qualify. You can call us today to see if you are a qualified offer candidate.
We take no money unless you qualify for the Tax Debt Settlement Program.
There are 3 basic ways a taxpayer can resolve their IRS tax debt.
Ways taxpayers can resolve their tax debt include:
1. Making monthly payments through an Installment Agreements, payment agreements,
2. Apply for a current tax hardship because there is no money available to pay the tax at this time,
3. File for a Offer in Compromise or a IRS Tax Debt Settlement.
Taxpayers should also consider the following to pay off or pay down the IRS tax debt:
a. Cash advances on credit cards,
b. Bank loans, ( write off the interest )
c. Liquidating savings accounts, savings bonds, stocks, etc.,
d. Borrowing against 401(k),IRA, life insurance etc.,
e. Using equity in real estate or other assets.
Other options for IRS tax debt settlement.
Based on the circumstances, a taxpayer could qualify for an agreement to full pay within 60 or 120 days. The IRS is willing to offer these short term agreements to full pay in order to assist in tax debt repayment. Contact us and we will go over the different tax options to make this happen.
A taxpayer can request an agreement length depending on the specific situation. Penalties and interest incurred will be less through an agreement to full pay within 60 or 120 days rather than seeking to enter into an installment agreement.
IRS may request a financial statement – 433A, 433F
If a taxpayer cannot make payment in full upon receipt of the bill, the IRS may request a Collection Information Statement (CIS) to compare individual or business monthly income with expenses and to assist in determining a payment plan.
The Offer in Compromise, IRS Tax Debt Settlement
An offer in compromise is a legal agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the full amount owed.
If the liabilities can be fully paid through an installment agreement or other means, the taxpayer will in most cases not be eligible for an OIC.
The IRS will not accept an OIC unless the amount offered by the taxpayer is equal to or greater than the reasonable collection potential . The Reasonable Collection Period is how the IRS measures the taxpayer’s ability to pay.
The RCP includes the value that can be realized from the taxpayer’s assets, such as real property, automobiles, bank accounts, and other property. In addition to property, the RCP also includes anticipated future income, less certain amounts allowed for basic living expenses. Other factors are factored in but these are the most basic.
The IRS may accept an OIC or Tax Debt Settlements based on three grounds.
First.
Acceptance is permitted if there is doubt as to liability. This ground is only met when genuine doubt exists that the IRS has correctly determined the amount owed.
Second.
Acceptance is permitted if there is doubt that the amount owed is collectible. This means that doubt exists in any case where the taxpayer’s assets and income are less than the full amount of the tax liability.
Third.
Acceptance is permitted based on effective tax administration. An offer may be accepted based on effective tax administration when there is no doubt that the full amount owed can be collected, but requiring payment in full would either create an economic hardship or would be unfair and inequitable because of exceptional circumstances.
In general, a taxpayer must submit a $150 application fee with the Form 656.
There are two exceptions to this requirement:
1. no application fee is required if the OIC is based on doubt as to liability.
2. the fee is not required if the taxpayer is an individual (not a corporation, partnership, or other entity) who qualifies for the low-income exception.
This exception applies if the taxpayer’s total monthly income falls at or below 250 percent of the poverty guidelines published by the Department of Health and Human Services. Section 4 of Form 656 contains the Low Income Certification guidelines to assist taxpayers in determining whether they qualify for the low-income exception.
A taxpayer who claims the low-income exception must complete section 4 of Form 656.
IRS Tax Debt Settlement Attorneys, Lawyers – Resolve IRS Tax Debt, Former IRS – Tax Resolution Specialists 1-866-700-1040
