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Tax Programs to Settle IRS Tax Debt on Back Taxes – IRS Attorneys, Former IRS – We get results – Offer in Compromise

by | Dec 7, 2012 | Back Taxes, Tax Settlements

Mike Sullivan

 

Tax Programs – Settle IRS Tax Debts on Back Taxes – Attorneys, Former IRS – We get results

The specific program to Settle Back IRS Tax Debt is called the OIC or the Offer in Compromise.

I was a Former IRS Offer in Compromise Tax Specialist at the IRS. I taught Offer Program to new IRS agents and also taught the Program at the IRS Regional Training Center.

I am a Tax Expert in IRS Debt Settlement.

Fresh Start Tax LLC will give you a no cost professional tax consultation to see if you qualify for the PROGRAM.  1-866-700-1040

A CAUTION – Do not give your money to any tax firm that tells you they can settle for pennies on a dollar unless they completely review your current financial condition and you fill out a 433OIC. No one can tell you in good faith you can settle your tax debt until you make a financial disclosure to make sure you meet the term and conditions of a Offer in Compromise.

Do not get ripped off by scam companies. Check them out first!

I have reviewed hundred upon hundreds of Offer in Compromise and the program is very specific and detailed however if you qualify you will be a very happy person.

Today the National Average of acceptance is the highest it has ever been. 30% of all offers in compromise are accepted by the IRS.

The IRS Offer in Compromise or IRS Tax Debt Settlement Program

An offer in compromise allows you to settle your  IRS tax debt on back taxes for less than the full amount you owe.

It is a legitimate option if you cannot pay your full IRS tax liability or doing so creates a financial hardship.

The IRS will consider your unique set of facts and circumstances. Each case is different and no two cases are the same.

IRS will evaluate your settlement offer on back taxes based on some of the following:

a. Ability to pay back the IRS;
b. Current Income;
c.Monthly Expenses and,
d. Equity in all your assets.

IRS generally will approve an offer in compromise when the amount offered represents the most IRS can expect to collect within a reasonable period of time.

The Offer in Compromise program is not for everyone.
Make sure you are eligible to settle your back taxes.

Before the IRS will consider your offer in compromise  you must be current with all filing and payment requirements.

You are not eligible to settle IRS Tax Debt on Back Taxes if you are in an open bankruptcy proceeding.
To Submit your Offer in Compromise

You will need to complete a;

a. Form 433-A (OIC) (individuals) or

b. 433-B (OIC) (businesses) and all required documentation as specified on the forms,
c. Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656,
d. $150 application fee (non-refundable); and
e. Initial payment (non-refundable) for each Form 656.

 

Select a payment option to settle with 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. Wait for written acceptance, then pay the remaining balance of the offer 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.

Understand the offer in compromise process to settle IRS tax debt.

While your offer is being evaluated:

a. 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);
b. A Notice of Federal Tax Lien may be filed;
c. Other collection activities are suspended;
The legal assessment and collection period is extended;
d. Make all required payments associated with your offer;
e. You are not required to make payments on an existing installment agreement; and

Call us today to find out if you qualify for the Offer in Compromise Program 1-866-700-1040  Free initial consult. Speak directly to a professional.

 

Tax Programs to Settle IRS Tax Debt on Back Taxes – IRS Attorneys, Former IRS – We get results – Offer in Compromise

IRS TAX LEVY – IMMEDIATE WAGE, BANK LEVY TAX RELIEF – FORMER IRS AGENTS – EXPERTS – Fayetteville, Cary, Wilmington, High Point, Jacksonville, Asheville

by | Aug 26, 2011 | IRS Tax Advice, Tax News

Fresh Start Tax LLC       Since   1982         A Professional Tax Firm        “A” Rated by the Better Business Bureau      IRS Tax Experts

We get results, FAST.

If you need a immediate release or removal of an IRS tax levy call us for a no cost professional tax consult and find out just how fast we can get this done.

Do not be bullied by the IRS. Let former IRS Agents do the fighting for you. We know their weak spot!

Being Former IRS Agents, Managers and Instructors for over 60 years in the local, district and regional offices of the Internal Revenue Service we know every policy and procedure to make this happen quickly. We are very affordable.

Hire trust, integrity and 205 years of professional tax experience.

Our Company Resume: ( Since 1982 )

  • Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
  • On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
  • We taught Tax Law in the IRS Regional Training Center
  • Former IRS Agents, Managers and Instructors with over 60 years experience  in the local, district and regional IRS offices.
  • Highest Rating by the Better Business Bureau  “A”
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  • As heard on  GRACE 90.3 FM Monthly Radio Show-Business Weekly

How we can immediately get Notices of Bank Levy and Wage Garnishment  Released.

As former IRS Agents, Managers and Instructors we have issued thousands of IRS Wage/Garnishment and Bank Levies. We know exactly how to quickly get them released. We have what it takes.

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-F (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.

IRS Tax 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/ 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.