by Fresh Start Tax | Jan 3, 2019 | Tax Help
Michael Sullivan IRS Tax Debt Expert, File & Settle Your Tax Debt all At the Same Time <><
We are a nationwide Christian tax firm that specializes in IRS tax debt relief help. we are true experts when it comes to IRS and state tax help.<><
We have 200 years of professional tax experience in over 100 years of working directly for the Internal Revenue Service as agents, supervisors, managers, teaching instructors, appeals experts, and all facets of the internal workings with the Internal Revenue Service.
We are one of the most elite and premier firms in the tax debt relief industry.
We provide fast, affordable and the results taxpayers are expecting based on their current financial situation because we know all the methodologies behind how IRS works all cases.
Feel free to ask us about our Christian faith when you call.
When I was employed by the Internal Revenue Service I work the offer in compromise program. there are three general programs to settle your tax debt, the offer in compromise, the payment agreement and the hardship program but before IRS accepts any of these programs you must have all your tax returns filed and up-to-date.
As a general rule, the IRS looks at your current financial statement to determine what status they will close out your case off the enforcement computer.
Some taxpayers can qualify for an online payment agreement and when you call for your free initial consultation we will let you know if you qualify.
Approximately 6.5 million taxpayers are put into qualified payment agreements every year while 45% of all open collection cases wind up in a hardship, or currently uncollectible.
Approximately 32,000 people year settle their tax that for approximately $9500.
When you call our office we will review the various programs and find out what program you qualify for based on your current financial condition.
We can prepare all back tax returns with or without records get them on the IRS computer and settle your tax debt all at the same time.
As a result, we know all the inside secrets the methodologies and all the back tax programs to settle back taxes available.
Not only did I accept and reject offers in compromise, I was also a teaching instructor at the service center to help qualified revenue officers decide which offers to accept and reject.
Given the above information, I can tell you I am a true expert for the IRS offer in compromise and I wish to explain to you whether an offer in compromise is a viable option for you.
Due to social media, marketing and advertising the assumption by the general public is that IRS can settle tax debt for pennies on the dollar.
Let me first let you know that IRS does accept offers in compromise and as a matter of fact last year approximately 32,000 offers in compromise were accepted out of the 78,000 that were filed.
That number varies from year to year but the percentages usually remain the same of acceptability.
The average settlement was $9500 per case but remember that is just an average in not everybody can settle their tax debt for $9500.
There is much information you need to know before you go off filing an offer of compromise and giving your money to some firm to try to pull off some amazing trick because you have been sold a bill of goods and bought in to some marketing ploy and they’ve convinced you are a settlement candidate.
The IRS Process:
It first starts with the review of your personal financial statement which is found on the 433 OIC.
When the offer in compromise gets sent in to the Internal Revenue Service it is met with the reviewer that make sure that you are truly qualified candidate for the offer in compromise program.
That reviewer checks the completed form to make sure it is a valid agreement. The offer in compromise is a legal document between you and the Internal Revenue Service.
If IRS were to accept the offer and the next day you win the lottery the accepted offer still stands.
Also reviewer make sure that all the documentation is attached so that the revenue officer who will work your offer in compromise can move forward.
Approximately one third of all offers in compromise are sent back to the taxpayer because the offers are not filled out correctly or the appropriate documentation is not attached.
IRS will check to make sure all your tax returns are current and filed on the IRS system.It is critically important you know that you must have all tax returns filed before IRS will process your offer.
You should know that the Internal Revenue Service rejects an offer before it accepts an offer. one of the basic rules is that the revenue officer is lazy and is easier to mark rejected then they go through all the work of accepting an offer in compromise.
I should know this is a former instructor of the offer in compromise I see many revenue officers simply send offers back because some of the eyes were not dotted in the T’s were not crossed.
Due to the volume of cases the IRS has, which is over 7500 cases waiting in the IRS Q, is far easier for the IRS to say no then to accept because an average of anywhere between 20 and 40 hours are spent on accepting the offer in compromise.
If you have an offer in compromise accepted, four signatures are generally required for signature as it goes up and down the chain.
So how do you know if the offer in compromise is right for you. Call for a free initial tax consultation and hear the truth from a true IRS tax debt settlement former agent.
The first place to go is to fill out the IRS pre-qualifier tool for the offer in compromise. Because of so many scrupulous tax companies that have been ripping people off, the IRS wanted to make sure the general public has a tool that they can use to find out if they are prequalified to file the offer in compromise to make sure it is a viable option.
It contains all the necessary information in regard to your income, your expenses and your assets and it predetermined for you whether the offer in compromise is even a viable option for you.
IRS will take a very close look at the liquidity of your assets, your current income, and your monthly expenses before it renders a decision as IRS wants to make sure it collects all the money from you that they can within the 10 year statutory period of time.
One of the questions the agent will want to consider is, can we collect more money over 10 years than accept the current agreement on the table for the IRS offer in compromise.
As a general rule, you will have to give IRS your total liquidity of all your assets before they will even consider the acceptance of an offer in compromise.
IRS on larger dollar cases is a tremendous amount of due diligence. The IRS has a wealth of information on the various computers they can use to dig and find assets or income.
Why? you may ask is because all offers in compromise are open for public inspections at eight regional offices throughout the United States.
Your offer in compromise must be thoroughly documented which includes all your bank statements for the last six months to a year, all your pay stubs, all your monthly expenses along with certain documentation for assets that have value.
IRS also takes a look at the values of your pensions, your IRA, your business as well.
The offer in compromise is one of the most reviewed documents, it is like going through a mini audit.
Some of the due diligence that IRS will conduct on a larger dollar cases is checking Google, the accurate search engine, Department of Motor Vehicles, real estate records, insurance policies, credit reports, loan applications, insurance policies, and inter-government agency records including those garnered by Homeland security and other such agencies.
Before you contemplate filing the offer in compromise and wasting your money on a company that has promised you they can settle your case for pennies on the dollar, you would be wise to give us a call to have an actual former IRS agent and teaching instructor of the offer in compromise give you the green light.
You should also know if an offer in compromise is not except that you have the right to appeal it and if the appeal is not accepted you can file an offer at a later time.
When you call our office you will speak to true IRS tax experts who knows the system and can tell you what to expect and tell you how to settle for the lowest amount possible.
When you call our office will review every single back tax program available, and generally there’s three the hardship program the payment agreement program and the most popular back tax program the offer in compromise which completely settles your IRS tax debt but you must be a candidate that fits the IRS criteria.
Call us today for a free initial tax consultation, you will hear nothing but the truth from former IRS agents who know and understand the methodologies of the offer in compromise to make sure it is right for you.
IRS Back Tax Debt Settlement Relief Help + File & Settle + Christian IRS/State Tax Help Experts + Chattanooga, Kingsport, Johnson City, Bristol
by Fresh Start Tax | Dec 26, 2012 | New Jersey Tax, Offer in Compromise
IRS Offer in Compromise – Tax Debt Negotiation -Tax Attorneys, Former IRS – Essex, Morris, Bergen, Passaic, Union – New Jersey
As Former IRS agents we taught the Offer in Compromise at the Internal Revenue Service. 1-866-700-1040.
We know all the procedures and policies governing IRS tax settlement called the Offer in Compromise.
We will qualify your case for a no cost consult before recommending a plan of course of action. the OIC is a very detailed procure and required professional shill for acceptance.
The IRS accepts 30 % of all offers turned in and 90% of those are submitted by professional tax firms.
We are a local professional tax firm that specialize in IRS Offers in Compromise. 1-866-700-1040.
We have over 205 years of professional tax expereince and over 60 years of direct IRS work experience.
We have over 60 years of direct work expereince with the IRS in the local, district and regional offices of the IRS.
The IRS Offer in Compromise, Tax Debt Negotiation
An offer in compromise is a legally binding agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the full amount owed.
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 RCP). The RCP is how the IRS measures the taxpayer’s ability to pay. The formula is based on income plus assets.
The RCP includes the value that can be realized from all of the taxpayers assets, such as real property, automobiles, bank accounts, IRA’s and pension plans and other property. In addition to property, the RCP also includes anticipated future income, less certain amounts allowed for basic living expenses.
The IRS may accept an OIC based on three basic grounds.
1. The 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.
2. The 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.
3. The 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. Many times rare circumstances such as medical issues may arise that will cause the IRS to take a second look.
Taxpayers may choose to pay the offer amount in a lump sum or in installment payments.
Lump Sum Payment
A lump sum offer is defined as an offer payable in 5 or fewer installments.
If a taxpayer submits a lump sum offer, the taxpayer must include with the Form 656 a nonrefundable payment equal to 20 percent of the offer amount.
This payment is required in addition to the $150 application fee.
The 20 percent amount is called nonrefundable because it cannot be returned to the taxpayer even if the offer is rejected or returned to the taxpayer without acceptance. The 20 percent amount will be applied to the taxpayer’s tax liability.
The taxpayer has a right to specify the particular tax liability to which the IRS will apply the 20 percent amount.
Periodic Payment Offer
The offer is called a “periodic payment offer” under the tax law if it is payable in 6 or more installments. When submitting a periodic payment offer, the taxpayer must include the first proposed installment payment along with the Form 656.
This payment is required in addition to the $150 application fee.
This amount is nonrefundable, just like the 20 percent payment required for a lump sum offer. Also, while the IRS is evaluating a periodic payment offer, the taxpayer must continue to make the installment payments provided for under the terms of the offer. These amounts are also nonrefundable.
These amounts are applied to the tax liabilities and the taxpayer has a right to specify the particular tax liabilities to which the periodic payments will be applied.
Statutory Period of Time
Ordinarily, the statutory time within which the IRS may engage in collection activities is suspended during the period that the OIC is under consideration and is further suspended if the OIC is rejected by the IRS and the taxpayer appeals the rejection to the IRS Office of Appeals within 30 days from the date of the notice of rejection.
If the IRS accepts the taxpayer’s offer, the IRS expects that the taxpayer will have no further delinquencies and will fully comply with the tax laws. If the taxpayer does not abide by all the terms and conditions of the OIC, the IRS may determine that the OIC is in default.
To avoid a default, the taxpayer must timely file all tax returns and timely pay all taxes for 5 years or until the offered amount is paid in full, whichever period is longer
When an OIC is declared to be in default, the agreement is no longer in effect and the IRS may then collect the amounts originally owed, plus interest and penalties.
Call us to see if you qualify for an offer. 1-866-700-1040
IRS Offer in Compromise – Tax Debt Negotiation -Tax Attorneys, Former IRS – Essex, Morris, Bergen, Passaic, Union – New Jersey
by steve | Jul 6, 2011 | IRS Tax Advice, Tax News
Fresh Start Tax LLC IRS Tax Experts Former IRS Offer in Compromise Since 1982 “A” Rated by Better Business Bureau
On staff, former IRS Agents, Managers and Instructors with over 60 years work experience at the IRS who specifically worked the Offer in Compromise Program at IRS.
Not only did we work the Offer Program, we also taught the Offer Program to other IRS Agents. We taught Tax Law at the IRS and are true IRS Tax Experts.
We are one of the oldest, most trusted and experienced professional tax firms in South Florida.
How we settle and negotiate your case with the Internal Revenue Service:
1. We immediately send a power of attorney to the IRS letting them know we are now your representative. You will never have to speak to them.
2. We will make sure all your tax returns are filed and current. If your tax returns are not up to date, the IRS will refuse to work your case. This is leverage that they use to get you compliant. We can pull tax transcripts, file and prepare your tax returns within days, even if you have lost your tax records.
3. The IRS requires a current financial statement. We will secure a required 433-A (IRS financial statement), verify the income and expenses and work out a settlement agreement. The IRS will require a closing settlement method for each case.
4. We review with our clients how they want to settle their case. We get them an agreement based on their current financial needs.
Settlement agreements can be in different forms:
a. Hardship Settlements. Cases usually go into a 3 year suspended status because of an inability to pay. This is also called currently noncollectable. Your case will go into a hardship status because you do not have the income coming in to meet your current expenses. The IRS will use the National Standards Program to assess hardship.
b. Payment Agreements. Cases can be closed with agreed upon monthly installment payments to the IRS. We will review the different programs the IRS uses for the lowest possible amount required.
c. Offer in Compromise. There are three types of OICs:
The IRS may accept an Offer in Compromise based on three grounds:
1. Doubt as to Collectibility – Doubt exists that the taxpayer could ever pay the full amount of tax liability owed within the remainder of the statutory period for collection.
2. Doubt as to Liability – A legitimate doubt exists that the assessed tax liability is correct. Possible reasons to submit a doubt as to liability offer include:
(1) the examiner made a mistake interpreting the law,
(2) the examiner failed to consider the taxpayer’s evidence or
(3) the taxpayer has new evidence.
3. Effective Tax Administration – There is no doubt that the tax is correct and there is potential to collect the full amount of the tax owed, but an exceptional circumstance exists that would allow the IRS to consider an OIC. To be eligible for compromise on this basis, a taxpayer must demonstrate that the collection of the tax would create an economic hardship or would be unfair and inequitable.
Call us for a free tax consult!
by steve | May 19, 2011 | IRS Tax Advice, Tax News
Fresh Start Tax LLC A Local South Florida Professional Tax Firm “A” Rated by the Better Business Bureau Since 1982
Have former IRS teaching instructors who taught the Offer in Compromise/Settlement Program while at IRS settle your case for the lowest possible amounts. We taught tax law in the South Florida IRS Offices for over 60 years.
We know all the formulas and tax strategies used by the Internal Revenue Service.
Our firm has over 163 years of professional tax experience and we are one of the oldest, most experienced and trusted professional tax firms.
The IRS may accept an Offer in Compromise based on three grounds:
1. Doubt as to Collectibility – Doubt exists that the taxpayer could ever pay the full amount of tax liability owed within the remainder of the statutory period for collection.
2. Doubt as to Liability – A legitimate doubt exists that the assessed tax liability is correct. Possible reasons to submit a doubt as to liability offer include:
(1) the examiner made a mistake interpreting the law,
(2) the examiner failed to consider the taxpayer’s evidence or
(3) the taxpayer has new evidence.
3. Effective Tax Administration – There is no doubt that the tax is correct and there is potential to collect the full amount of the tax owed, but an exceptional circumstance exists that would allow the IRS to consider an OIC. To be eligible for compromise on this basis, a taxpayer must demonstrate that the collection of the tax would create an economic hardship or would be unfair and inequitable.
Call us for a free tax consultation. Free video conferencing is also available.
Areas of Tax Practice:
- Immediate IRS Tax Representation
- Offers in Compromise/ IRS Tax Debt Settlement
- Immediate Release of Bank Garnishments or Wage Levies
- IRS Bill/Notice of “Intent to Levy” or Final Notices
- IRS Tax Audits Small and Large Dollar
- Hardships Cases / Unable to Pay
- Payment Plans, Installment Agreements
- Innocent Spouse Relief
- Abatement of Penalties and Interest
- State Sales Tax Cases
- Payroll/ Trust Fund Penalty Cases
Our Company Resume: ( Since 1982 )
- Our staff has over 163 years of professional IRS tax representation experience collectively
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- Former IRS Managers, Instructors and Trainers
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed to practice in all 50 States
- Certified by the Internal Revenue Service
- Nationally Recognized Veteran Former IRS Agent
- Nationally Recognized Published Tax Expert
- As heard on 90.3 FM Monthly Radio Show-Business Weekly
by steve | May 16, 2011 | IRS Tax Advice, Tax News
Fresh Start Tax L.L.C. A Professional Tax Firm “A” Rated by the Better Business Bureau Practicing IRS Tax Representation and Offer in Compromises since 1982
Call us before hiring any tax firm. We will tell you the truth.Over 163 years of direct tax experience.Staff, 60 years with the IRS.
We are one of the nations leading authorities on Offers in Compromise or Tax Settlements. On staff, Michael Sullivan was a former IRS Agent teaching Offers in Compromise at the IRS for over 10 years. He taught at the local, district and regional training centers at the IRS.
Today, we teach other tax professionals about Offers. We are the real deal! You cannot find more tax experience for the IRS Tax settlement program.
Be very careful before filing an offer in compromise. Have former IRS Agents, Managers and work and settle your case for the lowest possible dollar amount if you are a qualified candidate.
How we work your case to immediately resolve your IRS problem and get you immediate and permanent tax relief:
1. We immediately send a power of attorney ( POA ) to the IRS letting them know we are now your tax representative. You will never speak to the IRS. We handle everything.
2. We will make sure your tax returns are filed and current. If your tax returns are not up to date, IRS will refuse to work your case. This is leverage that the IRS uses to get you compliant. Lost tax records, no problem. We can pull tax transcripts, file and prepare your tax returns within days.
3. IRS requires a current financial statement. We will secure a required 433-F (IRS financial statement), verify the income and expenses and work out a settlement agreement. IRS will require a closing settlement method for each case.
IRS Settlement Agreements/ Tax Debt Programs can be in different forms:
a. Hardship Settlements. Cases usually go into a 3 year suspended status because of an inability to pay. This is also called currently noncollectable. Your case will go into a hardship status because you do not have the income coming in to meet your current expenses. The IRS will use the National Standards Program to assess hardship.
b. Payment Agreements. Cases can be closed with agreed upon monthly installment payments to the IRS. We will review the different programs IRS uses to find you the lowest possible amount required.
c. Offer in Compromise /IRS Settlements / Tax Debt Settlement Programs. There are three types of OICs:
The IRS may accept an Offer in Compromise based on three grounds:
1. Doubt as to Collectibility – Doubt exists that the taxpayer could ever pay the full amount of tax liability owed within the remainder of the statutory period for collection.
2. Doubt as to Liability – A legitimate doubt exists that the assessed tax liability is correct. Possible reasons to submit a doubt as to liability offer include:
(1) the examiner made a mistake interpreting the law,
(2) the examiner failed to consider the taxpayer’s evidence or
(3) the taxpayer has new evidence.
3. Effective Tax Administration – There is no doubt that the tax is correct and there is potential to collect the full amount of the tax owed, but an exceptional circumstance exists that would allow the IRS to consider an OIC. To be eligible for compromise on this basis, a taxpayer must demonstrate that the collection of the tax would create an economic hardship or would be unfair and inequitable.
Call us for a free tax consultation. Free video conferencing is also available.
