866-700-1040

IRS Lawyer – Tax Relief Services – Tax Attorneys, Former IRS – Essex, Morris, Bergen, Passaic, Union – New Jersey

by | Dec 3, 2012 | New Jersey Tax, Tax Lawyer, Tax Relief

 

Mike SullivanIRS Lawyer – Tax Relief Services – Tax Attorneys, Former IRS – Essex, Morris, Bergen, Passaic, Union – New Jersey

Stop the worry today. You have options to settle with the IRS. Just ask Former IRS agents and managers.

We are comprised of Board Certified Tax Attorneys, IRS Lawyers, CPA’s, Enrolled Agents and Former IRS agents.

We have over 206 years of total IRS tax experience and over 60 years of direct IRS experience in the local, district and regional offices of the Internal Revenue Service.

 

As former IRS Agents we taught Tax Law at the IRS.

We know all the settlement techniques and tax policies related to all the Tax Relief Services with the IRS.

We can review the different tax options and settle your case with the IRS.

We are affordable and you can speak directly to the tax professional that will be handling your case. All work is done in house by true tax professionals.

How we Settle and Negotiate your case with the Internal Revenue Service:

1. We will immediately send a power of attorney to the Internal Revenue Service  letting them know  that we are now your tax representative.

You will never have to speak to the IRS. We handled all letters and contact.

2. We will make sure all your tax returns are filed and current. If your tax returns are not up to date, the IRS can refuse to work your case. This is leverage that the IRS will use to get you tax compliant.

We can  and will pull tax transcripts, file and prepare your tax returns within days, even if you have lost or have few tax records.

3. The IRS requires a current financial statement. We will secure a required 433-A , 433F (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. All cases are reviewed against the National Averages.

4. We review with our clients how they want to settle their case.

We will get you an agreement based on your current financial needs.

 

IRS Tax Settlement Agreements can be in different forms:

a. Hardship Settlements.

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, installment plans,

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. The Streamline agreement is the most popular.


c. IRS Offer in Compromise/ Tax Debt Settlements

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 or Exceptional Circumstances.

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. Most of these offers are accepted due to medical hardships.

Do not be ripped off by other tax firms call us to hear the truth. 1-866-700-1040.

IRS Lawyer – Tax Relief Services – Tax Attorneys, Former IRS Essex, Morris, Bergen, Passaic, Union – New Jersey


 

IRS Tax Debt Relief – Tax Resolution – Tax Attorneys, Former IRS Essex, Morris, Bergen, Passaic, Union – New Jersey – IRS Experts

by | Dec 3, 2012 | IRS Tax Debt, New Jersey Tax, Tax Lawyer, Tax Relief

Mike Sullivan

 

IRS Tax Debt Relief – Tax Resolution – Tax Attorneys, Former IRS

Have former IRS Agents, Managers and Instructors completely resolve your IRS tax debt and get you a permanent tax resolution.

We have over 205 years of professional IRS and State Tax Experience and over 60 years of direct work experience at the IRS. We taught Tax Law at the IRS.

We are affordable and friendly.

 

Different Ways to Resolve your case with the IRS

There is a very specific process that the IRS uses to close all outstanding tax debt off of the CADE 2 enforcement computer.

IRS will require a base financial statement. Depending where your case is in the system IRS will either require a 433A or a 433 F financial statement.

In each case the financial statement will need to be fully documented.

Documentation will include but limited to 6 months of bank statements, bills or expenses and proof of income. IRS will compare your expenses to the National and Regional Standards. You can observe those on our website.

 

The three normal closing methods used by the IRS after a review of the documented financial statement are the following:

1. You will qualify for a IRS Hardship,

2. You will qualify for a IRS installment payment,

3. You will be eligible for a tax settlement.
Before you decide whether a tax settlement is right for you, make sure you are eligible.

 

Before the 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 in compromise.

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). You can find this on our website.

a. Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms,
b. Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;

c. $150 application fee (non-refundable); and
Initial payment (non-refundable) for each Form 656.

 

Select a payment option

Your initial payment will vary based on your offer and the payment option you choose:

1. Lump Sum Cash.

Submit an initial payment of 20 percent of the total offer amount with your application. You will wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.
2. Periodic Payment.

You will submit your initial payment with your application.You should 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 offer in compromise  process

 

While your offer in compromise  is being evaluated:

1. Your non-refundable payments and fees will be applied to the tax liability,
2. A Notice of Federal Tax Lien may be filed by the IRS,
3. Other IRS collection activities are suspended,
4. The legal assessment and collection period is extended;
5. Make all required tax payments associated with your offer,
6. You are not required to make payments on an existing installment agreement or payment plan and,
7. Your offer  in compromise is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.

 

IRS Tax Debt Relief – Tax Resolution – Tax Attorneys, Former IRS  Essex, Morris, Bergen, Passaic, Union – New Jersey