Settle with IRS for LESS – Former IRS Settlement Agents – Lowest Possible Tax Settlement
Settle with the IRS for LESS – Former IRS Settlement Agents 1-866-700-1040
58,000 taxpayers filed for an IRS tax debt settlement last year and of those some 18,000 offers in compromise were accepted by the Internal Revenue Service.
The average settlement time is between six and nine months and the average settlement dollar is $.14 on the dollar. However do not let the $.14 on a dollar fool you. This is no more than an average. Each case is unique and completely depends on your individual situation.
If you want to settle for less the best possible persons to ask are former IRS settlement agents who taught the offer and compromise program with the Internal Revenue Service.
We taught this program to new IRS Agents who were qualified to work the tax debt settlement program called the offer in compromise.
We are comprised of tax attorneys, certified public accountants, and former IRS agents and managers.
While working at the Internal Revenue Service we worked in the local, district, and regional tax offices and taught and instructed tax law to the new IRS agents. We are tax experts in settling with the Internal Revenue Service, in payment agreements and tax hardships.
The lowest possible tax settlement
The Internal Revenue Service uses very specific standards to settle IRS tax debt.
If you are unfamiliar with the standards used by the Internal Revenue Service you will have no way of knowing how low the Internal Revenue Service will go. With that said there is a formula that is used.
The formula is comprised of two factors, assets and income.
IRS will want to know what your total liquidation value of the total sum of all your assets including pensions, equities in homes and all personal assets.
IRS will conduct an income to expense ratio to find out if you have any disposable income left over after the national and regional standards are applied.
If you are not familiar with the IRS national and regional standard tests you need to be. This is a very critical element of the settling process because should the IRS finds that you have disposable income left over after the national and regional standard tests are applied the IRS will multiply that monthly overage times 12.
IRS will then add up your total equity that you have in all your assets plus the disposable monthly income left over times 12 and that will comprise your offer compromise settlement number to the Internal Revenue Service.
IRS will generally accept no less than that figure unless some unusual hardships exist.
Pre-Qualifier Tool
IRS has made a much easier for taxpayers to settle with the Internal Revenue Service by now using a pre-qualifier tool that you can find our website. It is best for every taxpayer to walk to the pre-qualifier tool to find out for themselves if they can if they are a legitimate settlement candidate.
There are so many little factors that can reduce your settlement offer to settle for less with the Internal Revenue Service. there are many monthly expenses it can be included in your offer in compromise at the Internal Revenue Service will not tell you about. Unless you’re a tax expert in the field you will not know the smaller things that can help reduce your offer to settle for less.
After working thousands and thousands of cases and being tax experts in settling with the Internal Revenue Service we will conduct a free tax analysis to let you know what the very best deal that you will get to settle for less.
Unless you’ve either work for the Internal Revenue Service or filed hundreds and hundreds of offers in compromise it would be absolutely impossible to let any taxpayer no just how low the IRS will go.
Being former IRS agents we know all the standards, all the protocols, all the settlement boundaries, and all the applicable standards that will be of plight against every single case.
The National Standards
Collection Financial Standards are used to help determine a taxpayer’s ability to pay a delinquent tax liability.
Allowable living expenses include those expenses that meet the necessary expense test. The necessary expense test is defined as expenses that are necessary to provide for a taxpayer’s (and his or her family’s) health and welfare and/or production of income.
National Standards for food, clothing and other items apply nationwide. Taxpayers are allowed the total National Standards amount for their family size, without questioning the amount actually spent.
National Standards have also been established for minimum allowances for out-of-pocket health care expenses. Taxpayers and their dependents are allowed the standard amount on a per person basis, without questioning the amount actually spent.
Maximum allowances for housing and utilities and transportation, known as the Local Standards, vary by location. In most cases, the taxpayer is allowed the amount actually spent, or the local standard, whichever is less.
Generally, the total number of persons allowed for necessary living expenses should be the same as those allowed as exemptions on the taxpayer’s most recent year income tax return.
If the IRS determines that the facts and circumstances of a taxpayer’s situation indicate that using the standards is inadequate to provide for basic living expenses, we may allow for actual expenses. However, taxpayers must provide documentation that supports a determination that using national and local expense standards leaves them an inadequate means of providing for basic living expenses.
Settle with IRS for LESS – Former IRS Settlement Agents – Lowest Possible Tax Settlement