by Fresh Start Tax | Nov 1, 2018 | Tax Help
As a former IRS agent and teaching instructor and a national expert, I am asked this question hundreds of times a year,” Will IRS settle for pennies on the dollar?”
The answer flat out is yes, but you better read the rest of the story.
For the record, we are a local South Florida tax firm that has been practicing since 1982 are former IRS agents worked out of the South Florida IRS offices.
There are hundreds or maybe a thousand firms promising IRS will settle your tax debt for pennies on the dollar. I’m trying to warn the general public not to be ripped off.
Most firms want you to believe immediately there is a tax debt settlement in your future and that’s why they charge larger monies larger retainers all for the promise of settlement.
There are many scrupulous companies out there that simply take your money and you have a case that has no chance of settlement.
I know because I receive hundreds of calls a year about tax resolution firms that take money from suspecting taxpayers hoping to settle their debt only to find out they have been ripped off.
Make sure this does not happen to you.
A simple call to our office, free tax consultation, will tell you the truth about is the offer in compromise program right for you. IRS has strict rules about an IRS tax debt settlement.
Just so you know the answer to the initial question, how much will IRS take for an offer in compromise, there is no set standard amount of what the IRS will accept for your offer in compromise to settle your tax debt, it is all decided by formula.
And there is a very exacting settlement formula to settle your tax debt for pennies on the dollar.
When you call us today will explain that formula to you. As a general rule IRS is looking for your current income expenses and your assets. IRS doesn’t much care for most of your liability including credit cards and debt to other parties IRS is mainly looking for asset-based areas and where they can collect the back tax.
Also it is very important to remember all your tax returns must be filed and on the IRS system before IRS will accept the offer in compromise.
If you want to know the truth about the offer in compromise program I am the person you need to speak to. Since 1982.
I am a former IRS agent and teaching instructor with my former boss of the offer in compromise program.
I know the system inside and out I worked it I’ve trained others and have accepted offers in compromise for the federal government. I’m a true IRS tax expert on the offer in compromise.
I am a true IRS tax expert, national speaker, and have been on FOXBusiness news and other outlets speaking about different matters about Internal Revenue Service.
There are many myths about the offer in compromise program.
There are strict standards that the IRS employee before they accept an offer in compromise. I know because I’ve both accepted offers in compromise taught new employees to accept the offer in compromise or reject them and I know the system inside and out.
I suggest that every client or taxpayer before they file an offer in compromise either do one of two things.
Number one, call a true tax expert who knows the offer in compromise inside out or number two, to fill out the IRS pre-qualifier tool for the offer in compromise.
If you’re calling a professional firm you want to make sure the representative has at least filed 100 offers.
It takes a lot of experience and knowledge to get an offer in compromise through. some are very simple and don’t need a lot of experience while others demand. expertise skill level.
The Internal Revenue Service spends several hours, much more than you think to accept an offer in compromise. As a general rule, the average agent can spend between 20 to 40 hours to accept an offer in compromise.
After that takes place, the revenue officer must convince their local supervisor, the area manager, and the General Counsel of Internal Revenue Service to accept the offer.
It literally goes back and forth in the system. Some exceptions do exist. Dollar amount has a lot to do in the direction your offer will take.
Why? because all offers and compromise are a matter of public record.
That public record is available at eight regional IRS offices in the United States.
Even though offers are open to public inspection only one person last year looked through the IRS offers in compromise files.
IRS is not made electronic copies for review. knowing that these files are public record believe it or not only one person last year visited a regional office to review the offer in compromise. This year no one has been to an office.
There is a base rule for Internal Revenue Service accepting an offer in compromise.
You must give IRS the total equity in all your assets before IRS will consider or contemplate the acceptance. Some exceptions exist, assets consist of houses, pension plans, stock, business valuations, IRS wants to make sure you’re actually borrowing the money to settle.
If you are interested in filing an offer in compromise you can call us today for a free initial tax consultation and I will walk you through the process of the true IRS debt settlement called the offer in compromise.
Offer in Compromise FACTS:
IRS last year accepted approximately 30,000 offers in compromise in approximately 75,000 were accepted. The average settlement was $9500.
Don’t let this average settlement fool you, it’s based on an average of all the offers accepted.
Offers in compromise are excepted by formula not by judgment.
The basic formula are the total value of your assets times what you have left over a month on a current income and expense statement times the number of months left in the statute. Some exceptions do apply.
Due diligence that can be used by IRS. The dollar of your case drives the due diligence.
You want to make sure your financial statement is accurate.
IRS has a host of web-based tools that can search your assets, places were you work, your income, your real estate records, your car records, your business records, insurance records , financial statement you’ve given institutions, credit reports and financial statements you’ve given the credit companies.
The amount of due diligence that the IRS spends working on cases depend strictly on the dollar amount of the tax debt. If you over hundred thousand dollars IRS spends a great deal more honor offer case.
Make sure you are very honest in the submission of your offer in compromise
So. what is an offer in compromise, a tax debt settlement
An offer in compromise allows you to settle your tax debt for less than the full amount you owe.
It may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship.
IRS consider your unique set of facts and circumstances:
• Ability to pay;
• Income;
• Expenses; and
• Asset equity.
IRS generally approve an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time.
The Offer in Compromise program is not for everyone.
If you hire a tax professional to help you file an offer, be sure to check his or her qualifications.
Make sure you are eligible to file:
Before 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.
Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.
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 for the IRS:
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. If your offer is accepted, you will receive written confirmation. Any remaining balance due on the offer is paid 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. See your application package for details.
Understand the process of the OIC
While your offer is being evaluated there are specific rules and guidelines:
• 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.
If your offer is accepted: your blessed
• You must meet all the Offer Terms listed in Section 8 of Form 656, including filing all required tax returns and making all payments;
• Any refunds due within the calendar year in which your offer is accepted will be applied to your tax debt;
• Federal tax liens are not released until your offer terms are satisfied; and
• Certain offer information is available for public review by requesting a copy of a public inspection file.
If your offer is rejected
• You may appeal a rejection within 30 days using Request for Appeal of Offer in Compromise, Form 13711 (PDF).
If your offer is not accepted this appeal process many times is the best way to settle the tax debt as the appeals division is a little more lenient sometimes than the IRS revenue officer. Don’t be dismayed if your case goes to appeals. Many times the best settlements come while the case is in the Appellate Division.
Call us today for a free initial tax consultation and we will walk you through the system to get your offer in compromise accepted if you are a credible candidate for the program.
We only file offers in compromise if you are a suitable candidates.
Remember, offers in compromises are not for all people.
e your money to any firm unless you speak to the person and you truly understand how IRS will accept your financial statement and accept the offer in compromise.
Offer In Compromise : Will IRS Settle For Pennies on a Dollar * Ask Former IRS Agent + Ft. Lauderdale, Miami, Palm Beaches, Boca Raton, Pompano
Offer In Compromise : Will IRS Settle For Pennies on a Dollar * Ask Former IRS Agent + Ft. Lauderdale, Miami, Palm Beaches, Boca Raton, Pompano Beach
by Fresh Start Tax | Oct 11, 2018 | Tax Help
We are a local South Florida tax firm that specializes in IRS tax debt relief. Since 1982 we have worked thousands of cases and nobody matches our experience. we are A+ rated.
We have worked thousands of cases since 1982 through every level of the Internal Revenue Service. We have worked in almost every single position in IRS collection and audit.
Since 1982, we have been resolving IRS tax issues and we have an amazing history of successful client work and satisfied customers and that is due to the experience we have in dealing with IRS tax problems and tax issues and IRS tax relief.
NOBODY MATCHES OUR IRS EXPERIENCE, NOBODY!
On staff are former IRS agents, managers and teaching instructors who were supervisors and managers while working at the Internal Revenue Service. We have a whole team of professional experts that work at our firm. Your case is assigned to the tax expert that has the greatest area of expertise.
As a result of all of our work experience, we understand the methodologies and all the procedures to close IRS cases in the most prudent and affordable manner. True IRS tax resolution should be handled by experienced veterans who work thousands of cases.
Upon your initial consultation in almost all cases, we will let you know how your tax case will resolve itself and exactly how much it will cost you.
Each case has its own unique set of circumstances so we will customize a specific plan of action based on your set of circumstances and financial matters. There are no two cases alike. Usually what is meant by unique set of circumstances are the financial conditions that exist of the time of negotiation with the Internal Revenue Service.
You will never have to speak to Internal Revenue Service we will handle all communication with you to you and with the Internal Revenue Service.
The most popular program is the IRS offer in compromise because it settles your debt for pennies on the dollar but you must be sure you qualify for this type of settlement or you will waste your money.
People such as you have given thousands of dollars to companies promising the settlements but there are qualifiers that the taxpayer must be aware of before they throw their money at somebody. When you call most companies a salesperson picks up the phone but fresh start tax will have a true IRS tax expert talk to you about your situation.
As a former IRS agent in teaching and structure of the offer in compromise I can let you know well ahead of time whether your offer will have any chance of acceptance and will be able settle your debt for the lowest allowable amount allowed by law if you qualify. Whatever you do do not be fooled by other companies.
When you call other tax settlement companies you are usually speaking to a salesperson who doesn’t know beans about offers in compromise what is trying to upsell you on the settlement.
Offers in Compromise, the OIC, this is known as the pennies on a dollar program.
I am a former IRS agent and teaching instructor of the offer in compromise or tax debt settlement program along with other IRS programs and systems.
We have over 60 years of direct work experience in the local, district, and regional tax offices of the Internal Revenue Service. We are true IRS experts who understand the IRS collection system.
All our work is done in-house and we are used by other firms to do their backend work.
You can call us today for free initial tax consultation and find out if you are a true offer in compromise tax debt settlement candidate.
Due to the IRS new fresh start initiative set out by the Internal Revenue Service many more taxpayers are eligible for the tax debt settlement.
Before a taxpayer or client thinks about the filing of an offer in compromise they should check out the IRS offer in compromise pre-qualifier tool first.
You can walk to the pre-qualifier tool on our site or call us today to learn more about it. The pre-qualifier tool has been put there by Internal Revenue Service to make sure you are not ripped off by tax settlement companies.
We will not file an offer in compromise or accept any fee for any client unless we know they are qualified for the program.
So if we send in your offer in compromise, you probably do have a pretty good chance of getting it accepted.
It is important to know you will that all back tax returns will have to be filed, up-to-date and current on the IRS computer system before the Internal Revenue Service will accept an offer in compromise.
IRS Tax Statistics for the OIC.
Last year there were 78,000 offers in compromise were filed with the Internal Revenue Service, 38% of those were accepted for an average of $6500 per case. Keep in mind this is a national average and varies from case to case is completely dependent on your current financial statement.
Also keep in mind your offer may be worked by any person throughout the United States.
About 20% of all offers in compromise go to the Appellate Division for settlement. Many times your best settlements occur when your case goes to the appellate division for review and the person needs to settle your case.
You should know that not everyone is an offer in compromise candidate to settle their tax debt.
There are many companies out there today advertising pennies on the dollar and if you are not a true qualified candidate you should not be giving your money to any firm.
The advice I give everyone is to speak to the person who is working your case and let them explain why you are a qualified candidate for the offer in compromise.
Make sure you are eligible for the OIC. Do not give your money to any company firm or otherwise until you know you are a qualified candidate.
Before 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. When you are in a bankruptcy proceeding IRS literally freezes all activity on your account.
Submitting your offer or OIC to the Internal Revenue Service.
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.
Keep in mind IRS will process no offer in compromise until all documents are in the sent file.
Selecting a payment option for the offer in compromise program
Your initial payment will vary based on your offer and the payment option you choose:
• IRS 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.
• IRS 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, you must continue to pay monthly until it is paid in full.
While your offer in compromise 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. This very rarely happens but from time to time you get lucky and win the lottery.
Other: IRS tax relief programs
Many taxpayers for a variety of reasons cannot qualify for an offer in compromise and IRS has four other buckets of ways they close cases once they were open in the IRS collection
They are as followed:
Hardship, payment agreement, statute of expiration, bankruptcy.
1. For those who are financially strapped and qualify, IRS has a currently non-collectible program in which taxpayers who qualify IRS will temporarily suspend their case between one and three years and then kick the case out later and re-review the financial statement.
Approximately 40% of all people who are in the current IRS collection Q wind up in a temporarily non-collectible file.
2. While other people based on their current financial statement can make a payment arrangement with the Internal Revenue Service. Approximately 6.5 billion people wind up in payment agreements because of their current financial statement. The Internal Revenue Service will use the national standard test to make sure the agreement is fair and reasonable.
3. Others qualify because the statute of limitation has expired on their tax assessments. As a general rule IRS has approximately 10 years to collect all cases. we can pull IRS tax transcripts to find out how close you are to having your statute of limitations expired.
4. While others can file Chapter 7 bankruptcy proceeding. We were review with you each of the criteria when you call us.
Tax Return Note:
As a side note, taxpayers should be aware that all tax returns must be filed before they can have an approved offer in compromise. Before IRS will work an offer in compromise to settle your tax debt they will want all tax returns filed and they will want to make sure you are current on your ES payments or your withholding in the current year we are in.
If you submitted an offer in compromise and IRS finds your tax returns are not file they will return the offer to you.
We could prepare all back returns for you with little or no records. Please keep in mind that IRS can file your tax returns under 6020 B of the Internal Revenue Code.
The Internal Revenue Service keeps records for six years of all income source documents which means IRS has all your W-2s and 1099 s.
As former IRS agents we know the system and understand all the protocols to get you the very best result possible.
Our founder has been on FOX Business news as well as NBC. Mr. Sullivan is also contributed to Bloomberg news as well as the Wall Street Journal.
Best Tax Settlement Company + IRS Tax Debt Relief + Ft.Lauderdale, Miami, Palm Beaches, Boca Raton, Pembroke Pines, Miramar
by Fresh Start Tax | Oct 11, 2018 | Tax Help
We are one of the best tax settlement companies in the United States, practicing since 1982 comprised of former IRS agents, managers and teaching instructors.
We have worked thousands of cases since 1982 through every level of the Internal Revenue Service. We have worked in almost every single position in IRS collection and audit.
Since 1982, we have been resolving IRS tax issues and we have an amazing history of successful client work and satisfied customers and that is due to the experience we have in dealing with IRS tax problems and tax issues and IRS tax relief.
NOBODY MATCHES OUR IRS EXPERIENCE, NOBODY!
On staff are former IRS agents, managers and teaching instructors who were supervisors and managers while working at the Internal Revenue Service.
As a result of all of our work experience, we understand the methodologies and all the procedures to close IRS cases in the most prudent and affordable manner. True IRS tax resolution should be handled by experienced veterans who work thousands of cases.
Upon your initial consultation in almost all cases, we will let you know how your tax case will resolve itself and exactly how much it will cost you.
Each case has its own unique set of circumstances so we will customize a specific plan of action based on your set of circumstances and financial matters. There are no two cases alike.
We have worked thousands of cases since 1982 and know the most efficient way to get you where you need to be.
You will never have to speak to Internal Revenue Service we will handle all communication with you to you and with the Internal Revenue Service.
The most popular program is the IRS offer in compromise because it settles your debt for pennies on the dollar but you must be sure you qualify for this type of settlement or you will waste your money.
People such as you have given thousands of dollars to companies promising the settlements but there are qualifiers that the taxpayer must be aware of before they throw their money at somebody.
As a former IRS agent in teaching and structure of the offer in compromise I can let you know well ahead of time whether your offer will have any chance of acceptance and will be able settle your debt for the lowest allowable amount allowed by law if you qualify. Whatever you do do not be fooled by other companies.
When you call other tax settlement companies you are usually speaking to a salesperson who doesn’t know beans about offers in compromise what is trying to upsell you on the settlement.
Offers in Compromise, the OIC, this is known as the pennies on a dollar program.
I am a former IRS agent and teaching instructor of the offer in compromise or tax debt settlement program along with other IRS programs and systems.
We have over 60 years of direct work experience in the local, district, and regional tax offices of the Internal Revenue Service. We are true IRS experts who understand the IRS collection system.
All our work is done in-house and we are used by other firms to do their backend work.
You can call us today for free initial tax consultation and find out if you are a true offer in compromise tax debt settlement candidate.
Due to the IRS new fresh start initiative set out by the Internal Revenue Service many more taxpayers are eligible for the tax debt settlement.
Before a taxpayer or client thinks about the filing of an offer in compromise they should check out the IRS offer in compromise pre-qualifier tool first.
You can walk to the pre-qualifier tool on our site or call us today to learn more about it. The pre-qualifier tool has been put there by Internal Revenue Service to make sure you are not ripped off by tax settlement companies.
We will not file an offer in compromise or accept any fee for any client unless we know they are qualified for the program.
So if we send in your offer in compromise, you probably do have a pretty good chance of getting it accepted.
It is important to know you will that all back tax returns will have to be filed, up-to-date and current on the IRS computer system before the Internal Revenue Service will accept an offer in compromise.
IRS Tax Statistics for the OIC.
Last year there were 78,000 offers in compromise were filed with the Internal Revenue Service, 38% of those were accepted for an average of $6500 per case. Keep in mind this is a national average and varies from case to case is completely dependent on your current financial statement.
Also keep in mind your offer may be worked by any person throughout the United States.
About 20% of all offers in compromise go to the Appellate Division for settlement. Many times your best settlements occur when your case goes to the appellate division for review and the person needs to settle your case.
You should know that not everyone is an offer in compromise candidate to settle their tax debt.
There are many companies out there today advertising pennies on the dollar and if you are not a true qualified candidate you should not be giving your money to any firm.
The advice I give everyone is to speak to the person who is working your case and let them explain why you are a qualified candidate for the offer in compromise.
Make sure you are eligible for the OIC. Do not give your money to any company firm or otherwise until you know you are a qualified candidate.
Before 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. When you are in a bankruptcy proceeding IRS literally freezes all activity on your account.
Submitting your offer or OIC to the Internal Revenue Service.
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.
Keep in mind IRS will process no offer in compromise until all documents are in the sent file.
Selecting a payment option for the offer in compromise program
Your initial payment will vary based on your offer and the payment option you choose:
• IRS 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.
• IRS 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, you must continue to pay monthly until it is paid in full.
While your offer in compromise 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. This very rarely happens but from time to time you get lucky and win the lottery.
Other: IRS tax relief programs
Many taxpayers for a variety of reasons cannot qualify for an offer in compromise and IRS has four other buckets of ways they close cases once they were open in the IRS collection
They are as followed:
Hardship, payment agreement, statute of expiration, bankruptcy.
1. For those who are financially strapped and qualify, IRS has a currently non-collectible program in which taxpayers who qualify IRS will temporarily suspend their case between one and three years and then kick the case out later and re-review the financial statement.
Approximately 40% of all people who are in the current IRS collection Q wind up in a temporarily non-collectible file.
2. While other people based on their current financial statement can make a payment arrangement with the Internal Revenue Service. Approximately 6.5 billion people wind up in payment agreements because of their current financial statement. The Internal Revenue Service will use the national standard test to make sure the agreement is fair and reasonable.
3. Others qualify because the statute of limitation has expired on their tax assessments. As a general rule IRS has approximately 10 years to collect all cases. we can pull IRS tax transcripts to find out how close you are to having your statute of limitations expired.
4. While others can file Chapter 7 bankruptcy proceeding. We were review with you each of the criteria when you call us.
Tax Return Note:
As a side note, taxpayers should be aware that all tax returns must be filed before they can have an approved offer in compromise. Before IRS will work an offer in compromise to settle your tax debt they will want all tax returns filed and they will want to make sure you are current on your ES payments or your withholding in the current year we are in.
If you submitted an offer in compromise and IRS finds your tax returns are not file they will return the offer to you.
We could prepare all back returns for you with little or no records. Please keep in mind that IRS can file your tax returns under 6020 B of the Internal Revenue Code.
The Internal Revenue Service keeps records for six years of all income source documents which means IRS has all your W-2s and 1099 s.
As former IRS agents we know the system and understand all the protocols to get you the very best result possible.
Our founder has been on FOX Business news as well as NBC. Mr. Sullivan is also contributed to Bloomberg news as well as the Wall Street Journal.
Best Tax Settlement Company + IRS Tax Debt Relief + Fresh Start Tax LLC + Since 1982
by Fresh Start Tax | Oct 10, 2018 | Tax Help
Best Tax Relief Company, Fresh Start Tax LLC 1-866-700-1040
There are many excellent tax relief companies nationwide, Fresh Start Tax LLC is one of the premier and best tax relief companies in the United States.
Since 1982 we have been resolving IRS tax issues and we have an amazing history of successful client work and satisfied customers and that is due to the experience we have in dealing with IRS tax problems and tax issues and IRS tax relief.
On staff a CPA, Tax Attorney. She is available on request.
On staff are former IRS agents, managers and teaching instructors who were supervisors and managers while working at the Internal Revenue Service.
As a result of all of our work experience, we understand the methodologies and all the procedures to close IRS cases in the most prudent and affordable manner.
Upon your initial consultation in almost all cases we will let you know how your tax case will resolve itself and exactly how much it will cost you.
Each case has its own unique set of circumstances so we will customize a specific plan of action based on your set of circumstances and financial matters. There are no two cases alike.
We have worked thousands of cases since 1982 and know the most efficient way to get you where you need to be.
You will never have to speak to Internal Revenue Service we will handle all communication with you to you and with the Internal Revenue Service.
The most popular program is the IRS offer in compromise because it settles your debt for pennies on the dollar but you must be sure you qualify for this type of settlement or you will waste your money. People such as you have given thousands of dollars to companies promising the settlements but there are qualifiers that the taxpayer must be aware of before they throw their money at somebody.
As a former IRS agent in teaching and structure of the offer in compromise I can let you know well ahead of time whether your offer will have any chance of acceptance and will be able settle your debt for the lowest allowable amount allowed by law if you qualify.
Offers in Compromise
We are AFFORDABLE IRS specialist experts for the Offer in Compromise for those wishing to settle their IRS tax debt. Former IRS Agents, since 1982. Former IRS OIC Specialist.
I am a former IRS agent and teaching instructor of the offer in compromise or tax debt settlement program along with other IRS programs and systems.
We have over 60 years of direct work experience in the local, district, and regional tax offices of the Internal Revenue Service. We are true IRS experts who understand the IRS collection system.
All our work is done in-house and we are used by other firms to do their backend work.
You can call us today for free initial tax consultation and find out if you are a true offer in compromise tax debt settlement candidate.
Due to the IRS new fresh start initiative set out by the Internal Revenue Service many more taxpayers are eligible for the tax debt settlement.
Before a taxpayer or client thinks about the filing of an offer in compromise they should check out the IRS offer in compromise pre-qualifier tool first.
You can walk to the pre-qualifier tool on our site or call us today to learn more about it.
We will not file an offer in compromise or accept any fee for any client unless we know they are qualified for the program.
So if we send in your offer in compromise, you probably do have a pretty good chance of getting it accepted.
It is important to know you will that all back tax returns will have to be filed, up-to-date and current on the IRS computer system before the Internal Revenue Service will accept an offer in compromise.
IRS Tax Statistics for the OIC
Last year there were 78,000 offers in compromise were filed with the Internal Revenue Service, 38% of those were accepted for an average of $6500 per case. Keep in mind this is a national average and varies from case to case is completely dependent on your current financial statement. Also keep in mind your offer may be worked by any person throughout the United States.
About 20% of all offers in compromise go to the Appellate Division for settlement.
You should know that not everyone is an offer in compromise candidate to settle their tax debt.
Make sure you are eligible for the OIC.
Before 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 or OIC to the Internal Revenue Service.
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.
Selecting a payment option for the offer in compromise program
Your initial payment will vary based on your offer and the payment option you choose:
• IRS 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.
• IRS 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, you must continue to pay monthly until it is paid in full.
While your offer in compromise 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.
Other :
IRS tax relief programs
Many taxpayers for a variety of reasons cannot qualify for an offer in compromise and IRS has four other buckets of ways they close cases once they were open in the IRS collection
They are as followed:
Hardship, payment agreement, statute of expiration, bankruptcy.
1. For those who are financially strapped and qualify, IRS has a currently non-collectible program in which taxpayers who qualify IRS will temporarily suspend their case between one and three years and then kick the case out later and re-review the financial statement.
Approximately 40% of all people who are in the current IRS collection Q wind up in a temporarily non-collectible file.
2. While other people based on their current financial statement can make a payment arrangement with the Internal Revenue Service. Approximately 6.5 billion people wind up in payment agreements because of their current financial statement. The Internal Revenue Service will use the national standard test to make sure the agreement is fair and reasonable.
3. Others qualify because the statute of limitation has expired on their tax assessments. As a general rule IRS has approximately 10 years to collect all cases. we can pull IRS tax transcripts to find out how close you are to having your statute of limitations expired.
4. While others can file Chapter 7 bankruptcy proceeding. We were review with you each of the criteria when you call us.
Tax Return Note:
As a side note, taxpayers should be aware that all tax returns must be filed before they can have an approved offer in compromise.
Before IRS will work an offer in compromise to settle your tax debt they will want all tax returns filed and they will want to make sure you are current on your ES payments or your withholding in the current year we are in.
If you submitted an offer in compromise and IRS finds your tax returns are not file they will return the offer to you.
We could prepare all back returns for you with little or no records. Please keep in mind that IRS can file your tax returns under 6020 B of the Internal Revenue Code.
The Internal Revenue Service keeps records for six years of all income source documents which means IRS has all your W-2s and 1099 s. I
RS will conduct a full compliance check anytime they work in open IRS collection case. As former IRS agents we know the system and understand all the protocols to get you the very best result possible.
Without question we are one of the best IRS debt tax relief services company in the United States. Since 1982 we have worked thousands of taxpayer clients and are above reproach.
When you are considering one of the best tax relief companies call fresh start tax, since 1982 we have been serving the Americas in resolving IRS tax debt. We can review all IRS tax programs and have tax attorneys, CPAs and former IRS agents on staff to serve your needs.
Our founder has been on FOX Business news as well as NBC . Mr. Sullivan is also contributed to Bloomberg news as well as the Wall Street Journal.
A Plus Rated + IRS Debt Tax Relief Services Company + Former IRS Agents + Since 1982
by Fresh Start Tax | Oct 9, 2018 | Tax Help
Speak to Michael D. Sullivan, Former IRS and Hear the Truth about Offer in Compromise. 1-866-700-1040
Mr. Sullivan is the founder and originator of Fresh Start Tax LLC.
Mr. Sullivan has worked thousands of cases since 1982 and is a true tax expert on the offer in compromise.
As a former IRS agent he both work accepted and taught to new IRS agents the offer in compromise program, otherwise known as the tax relief debt settlement program.
Upon your initial consultation with Mr. Sullivan you will know whether your qualified candidate to settle your tax debt for pennies on a dollar.
Offers in compromise or IRS tax relief debt settlements are not for everyone you must be a qualified candidate upon your initial consultation. There’s a pre-qualifier tool for offers in compromise.
Mr. Sullivan will walk you through the program and let you know all the fact about the offer in compromise.
Mr. Sullivan has also contributed to Bloomberg news and the Wall Street Journal.
Michael D. Sullivan had a distinguished career with the Internal Revenue Service for 10 years. As a veteran IRS Revenue Officer / Agent, he served as an Offer in Compromise Tax Specialist and Large Dollar Case Specialist.
He also collaborated with the U.S. Attorney’s office on undercover operations. Michael received several awards for his work and dedication as a IRS Agent.
During his tenure with the IRS, he was a Certified Tax Instructor who taught out of the Atlanta Regional IRS Training Offices. He also taught out of the local and district offices of the IRS. Mr. Sullivan trained many of the new IRS Agents.
Michael has been in private practice for the last 35 years in the field of Taxpayer Consultation for IRS Audit and Collection tax resolution issues. He often consults with corporations and individuals, which involves a wide range of tax issues.
Michael has worked many large complex cases for high net worth individuals and large corporations.
Mr. Sullivan is also registered with the Department of Business and Professional Regulation and has an approved class for IRS Collection Matters for Certified Public Accountants and Attorneys. Course # 0012279 expires 11/04/2019.
Mr. Sullivan also have course approval from the Florida Bar P1708462N to the members attorney and law firms who have need CPE credit for “IRS Tax Resolution”.
Mr. Sullivan has been a featured speaker in the credit card industry, student loan and the debt settlement vertical as well.
He also was one of the featured speakers at the Latino Tax Fest which also featured Nina Olsen, Nation Taxpayer Advocate.
Mr. Sullivan has also appeared on FOX BUSINESS NEWS
http://video.foxbusiness.com/v/4147654259001/tips-for-getting-through-to-the-irs/?#sp=show-clips
Former IRS Agent, Revenue Officer, Offer in Compromise Specialist, I Know the System
