Tax Debt IRS – Settle IRS Back Taxes, Payment Plans, Hardships, File Past Returns – Affordable Former IRS – Manhattan, New York City, Queens, Brooklyn, Bronx, Staten Island, Long Island
How to get Rid of IRS Tax Debt
There is a lot of talk chatter and noise on how a person can get rid of IRS tax debt.
The reality is there is really there is only one way.
We know the system because we are comprised of former IRS agents, managers and tax instructors know and taught in the system.
We know the system inside and out.
Some of what you hear on the TV and advertising is absolutely ridiculous.
When you talk specifically to us, we will tell you the truth on how to legitimately get rid of and negotiate your IRS tax debt.
We have over 60 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the IRS.
We were so good at our job we became former instructors and taught employees their jobs and also advanced training.
FST is the Affordable Choice and we are A plus rated by the BBB.
We have been in private practice since 1982.
Tax Debt with the IRS
IRS has a very specific system to deal with taxpayers, businesses and corporations that owe IRS tax debt to Internal Revenue Service.
Before the Internal Revenue Service makes any determinations whatsoever, they need to have a documented and verifiable financial statement before they will close or settle any IRS tax debt.
The Internal Revenue Service has different forms that they use for their financial statement but the two base forms are the 433F in the 433A.
The 433 f is used by the ASC Unit and the 433A is used by Revenue Officers.
You can find these forms on our website.
When a taxpayer submits that financial statement to the Internal Revenue Service they will expect full documentation including the last three months worth of bank statements, copy of all monthly expenses, and the last month’s pay stubs.
The IRS agent will analyze your financial statement against the national, regional, and localized norms for income and expenses.you can find these standards right on our website, the standards may surprise you.
As a general rule, after the financial review the IRS has one of 2 categories taxpayers businesses or corporations may be placed into.
The Internal Revenue Service may determine:
- Your a current hardship and put your case and to the non-collectible file where it remains for a couple years until it comes back out for review.
- Internal Revenue Service may let you know that you must make monthly payments based on your income and expense analysis.
The Internal Revenue Service may suggest the filing of an offer in compromise or a tax debt settlement because they feel that you are a viable candidate for the tax debt settle program.
The offer in compromise or tax debt settlement program is not for everybody. You must know the system.
A point of interest to settle your IRS back taxes debt.
The Internal Revenue Service accepted 38% of all taxpayers who try to settle their IRS tax debt for average of $.14 on a dollar according to IRS reports last year.
All taxpayers when contacting IRS would be required to file all tax returns. If that’s an issue we can prepare your tax returns within days with little or no records.
The Tax Debt Settlement called the Offer in Compromise
The IRS may accept an OIC to Settle Back Taxes based on three grounds.
- First, acceptance is permitted if there is doubt as to liability. This ground is only met when there is a genuine dispute as to the existence or amount of the correct tax debt under the law.
- Second, acceptance is permitted if there is doubt that the amount owed is fully collectible. Doubt as to collectibility 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 tax is legally owed and 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.
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Tax Debt IRS – Settle IRS Back Taxes, Payment Plans, Hardships, File Past Returns – Affordable Former IRS – Manhattan, New York City, Queens, Brooklyn, Bronx, Staten Island, Long Island