How to Settle With IRS on Old Back Tax Debt Help & Tax Services + Former Agents Explain Process

October 8, 2018
Written by: Fresh Start Tax
Fresh Start Tax

If you owe back taxes, it only makes sense to speak to affordable former IRS agents who know the system, we know every possible remedy to settle your IRS tax debt on Back Taxes.

 

We know the system because we have over 65 years of direct working knowledge being former IRS agents.

We know every possible system and methodology of the Internal Revenue Service and can help deal with IRS to settle existing tax debt with the Internal Revenue Service.

We know the system inside and out and know the fastest, quickest and most affordable way to completely and permanently relieve you of taxes owed to the Internal Revenue Service on back taxes. We know all the settlement options.

You can call us today for a free initial tax consultation and we can give you a free assessment on your case. Hear the truth from true tax experts.

To lower your tax debt on back taxes and settle with the IRS, the chief tool that must be used is the filing of an offer in compromise. As a former IRS employee, I worked the offer in compromise program, except it offers in compromise and taught the offer in compromise program to lower tax debt to new IRS employees. I know the system inside and out.

Last year there were 78,000 offers in compromise filed, 38,000 of those were accepted for average settlement of $4000 per case.

The sole means of qualification will be your individual documented financial statement.

The Internal Revenue Service will put an extensive review on your financial statement and documentation before they will come up and accept a tax settlement. There is a pre-qualifier tool now available to all taxpayers in firms to make sure you’re acceptable and suited candidate for the offer.

An offer in compromise allows you to settle your tax debt on back taxes for less than the full amount you owe.

IRS consider your unique set of facts and circumstances:, Ability to pay, Income, Expenses and Asset equity.

IRS will generally approve 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 lower your tax debt on back taxes.

Before we 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.

 

Submit your offer to settle back IRS taxes

 

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 to lower your tax debt on IRS back taxes.

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 to lower your tax debt on back IRS taxes and settle.

 

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;

• Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.

Not all taxpayers are qualified for offers in compromise

Most of our calls come to us because people want to settle their tax debt for pennies on the dollar but there are strict standards to settle your tax debt.

After IRS takes a financial statement there are two other possible remedies IRS may qualify you for.

First is to be placed in non-collectible due to your expenses exceeding your income and the second is a payment agreement.

Your financial statement and documentation is critically important to how IRS will settle your case on past due or old taxes.

Upon your initial review of your free consultation, we will review your financial statement and let you know the possibility of an offer in compromise, hardship or payment agreement.

We will make sure your IRS case is taken off the enforcement computer and settle your tax debt one way or the other.

Please keep in mind that all tax returns must be filed before IRS will close your case.If you have not filed your back tax returns we can prepare your tax returns with or without records ensure you will pay the lowest amount allowed by law.

Call us today for a free initial tax consultation you will hear the truth from former IRS agents who been involved in the system since 1982.

 

How to Settle With IRS on Old Back Tax Debt Help & Tax Services + Former Agents Explain Process

Filed Under: Tax Help

FREE

Consultation

No Obligation
We are here to help!

  • Should be Empty:
“Thanks to Fresh Start, I am feeling more and more confident about finally getting caught up after all these years.”
M. Johnson

“I will certainly refer anyone I come across who needs your services for sure.”
Jody and Don

“I cannot thank you enough for handling my IRS issues. After dealing with another office who did nothing, you guys did everything that you promised. Thanks again, especially Steve Jacob for guiding me every step of the way.”
Jerry H.