Federal Tax Lien Releases After 3 Debit Payments to IRS

IRS has a provision to Release Your Federal Tax Lien through making a payment plan/debit checking plan.

If you do not have the money to pay your federal tax lien off, the IRS has options for you to remove or withdraw the federal tax lien if you can make a regular installment agreement on a debit plan for 3 months in a row.

As a former IRS agent, I can tell you the federal tax lien is crippling.I have filed my share of Federal Tax Liens. Hated too, but had too.

The IRS Federal Tax Lien.

Not only does it affect your credit scores, lines of credit, and interest rates, it basically cripples your financial life.

Several years ago the IRS made changes in their procedures to remove or withdraw your federal tax lien if you can enter certain type of payment agreement that have certain characteristics about them.

Please find below how you make that happen. If you need help with your former IRS agents and managers and tax experts in the area

You can ask IRS to Withdraw o your Notice of Federal Tax Lien if you have entered in or converted your regular installment agreement to a Direct Debit installment agreement.

The General eligibility Includes:

a. You are a qualifying taxpayer (i.e. individuals, businesses with income tax liability only, and out of business entities with any type of tax debt)

b. You owe $25,000 or less (If you owe more than $25,000, you may pay down the balance to $25,000 prior to requesting withdrawal of the Notice of Federal Tax Lien)

c. Your Direct Debit Installment Agreement must full pay the amount you owe within 60 months or before the Collection Statute expires, whichever is earlier.

d. You are in full compliance with other filing and payment requirements,
e. You have made three consecutive direct debit payments,

f. You can’t have defaulted on your current, or any previous, Direct Debit Installment.

 

Release Federal Tax Liens With IRS Payment Plans, Takes 90 days

Payment Agreement Can Releases Federal Tax Lien + Former IRS Agent Explains

Get Your Federal Tax Lien Released With a Debit Payment Agreement

 

If you do not have the money to pay your federal tax lien off the IRS has options for you to remove or withdraw the federal tax lien if you can make a regular installment agreement on a debit plan.

 

As a former IRS agent, I can tell you the federal tax lien is crippling.

Not only does it affect your credit scores, lines of credit, and interest rates, it  basically cripples your financial life. Several years ago the IRS made changes in their procedures to remove or withdraw your federal tax lien if you can enter certain type of payment agreement that have certain characteristics about them.

Please find below how you make that happen. If you need help with your former IRS agents and managers and tax experts in the area

You can ask IRS to Withdraw o your Notice of Federal Tax Lien if you have entered in or converted your regular installment agreement to a Direct Debit installment agreement.

General eligibility includes:

a. You are a qualifying taxpayer (i.e. individuals, businesses with income tax liability only, and out of business entities with any type of tax debt)
b. You owe $25,000 or less (If you owe more than $25,000, you may pay down the balance to $25,000 prior to requesting withdrawal of the Notice of Federal Tax Lien)
c. Your Direct Debit Installment Agreement must full pay the amount you owe within 60 months or before the Collection Statute expires, whichever is earlier
d. You are in full compliance with other filing and payment requirements
e.  You have made three consecutive direct debit payments
f. You can’t have defaulted on your current, or any previous, Direct Debit Installment agreement.

There you go, follow the above and you are good to go.

Watch my you tube vid on the subject

Having a IRS Office Audit, Former IRS Explains the Process

What To Expect From a IRS Office Audit, a Former IRS Agent Explains the Process

 

IRS has many different types of of audits and one of the most common is the office audit which is usually located somewhere near your house or in your community at the local IRS office.

The office audit is a small business or individual type of audit.

Usually this audit has kicked out because of your DIF score.

The DIF score is a discriminatory index function score that has determined that your tax return falls  out of the IRS normal ranges and averages and as a result the case gets sent out to the local IRS office for tax audit review.

 

BEWARE: The auditor can expand the audit to go back or forward so you must be careful. If you have doubts about your tax return seek a good tax professional, they are worth the money you save.

 

Office audits typically surround matters pertaining to:

 

1. Itemized deductions (Schedule A),

2.business profits/losses (Schedule C),

3.Rental income/expenses (Schedule E).

 

Often one issue with a schedule can trigger an audit, but audits can quickly expand if the auditor suspects there may be problems in other areas of the return.

The office interview will consist of questions related to the issue under examination.

There may also be more generalized questions about employment, financial position, and lifestyle in an attempt to find other causes for concern.

An individual should give careful consideration to the answers and documentation provided to the IRS.

It’s very easy for a taxpayer to unintentionally give the auditor a reason to expand the scope of the audit.

An office audit with the IRS will typically conclude after just one day but the auditor may want follow up documentation.

 

 

The rule of thumb whether to hire a tax professional.

If your tax return is squeaky clean do-it-yourself, but if you feel you have skeletons in your closet and many items were fudged and put together and you feel there could be issues looming, never going by yourself, it’s well worth the money to hire a tax professional is at the end of the day they are well worth there keep.

You do not have to pay the bill if there is a tax adjustmnet made.

IRS Form 911 Can Stop IRS Bank Levies & Wage Garnishments

Is IRS Causing You a Hardship By Some Action, File a Form 911 TODAY, Stop the IRS, Did IRS File a Tax Levy Or Wage Garnishment. You have relief options.

 

 

Form 911 Filing Requirements

 

A 911 form get filed through the taxpayers advocate Service (TAS) who is a is an independent organization within the IRS that helps taxpayers and protects taxpayer rights.

The 911 form helps you resolve problems you can’t resolve with the IRS.

 

The 911 can work cases that with that IRS involve:

 

a. Your problem is causing financial difficulty for you, your family, or your business.

b. You face (or your business is facing) an immediate threat of adverse action.

c. You’ve tried repeatedly to contact the IRS but no one has responded, or the IRS hasn’t responded by the date promised.

 

The Taxpayers Service  will generally ask the IRS to stop certain activities while your request for assistance is pending for example:

a. federal tax lien filings,

b. bank levies, wage garnishments and seizures,

c. Other enforcement tools used by IRS.

 

Where Do  You Send The Form:

The quickest method is Fax the form to the TSA is your state.

This request to the TAS office MUST be filed your state or city.

How to  find this information:

Go to this website at www.taxpayeradvocate.irs.gov, or in Publication 1546, Taxpayer Advocate Service

You also can mail in the form.

 

You can find the mailing address and phone number  of your local Taxpayer Advocate office on the website, and in Pub. 1546, or get this information by calling our toll-free number: 1-877-777-4778.

 

Please be aware that by submitting the  form 911, you are authorizing TAS to contact third parties as necessary to respond to your request, and you may not receive further notice about these contacts.

For more information see IRC 7602(c).

 

Beware & Caution:  TAS will not consider frivolous arguments raised on this form.

If you use this form to raise frivolous arguments, you may be subject to a penalty of $5,000.

911 is a great form to STOP IRS as long as you are having  a true hardship.

Have questions, need representation , call us today, former IRS Agents.

Having problems with the IRS, call us today for immediate help.

Former IRS Agent, Michael D. Sullivan Explains the Offer In Compromise Program

The offer in compromise (OIC) is a tremendous tool if you owe back taxes to the IRS.

Must learn first before jumping. I was a Former IRS Agent who taught the program and accepted Offer in Compromise for the IRS.

 

 

Last year 78,000 offers in compromise were filed and the IRS accepted 38% of those offers for national average of $9500 per offer. Please understand this is done on a case-by-case basis a may not be a good measuring tool for your case.

IRS will use or current financial statement to make a determination whether you are eligible and can settle your tax debt for pennies on the dollar.

 

It was my job either to accept or deny an offer in compromise. I am a tax expert in the area of tax debt settlements which essentially is the offer in compromise.

 

 IRS has a pre-qualifier tool which you can use yourself to find out if you qualify for an offer.

 

Listen closely:

Do not give your money to any tax firm unless you know you are a qualified candidate for the offer in compromise. Someone that has a lot of experience can probably tell you within two minutes after examining your financial statement whether you are a qualified candidate to get an offer in compromise accepted by the Internal Revenue Service.

It takes a lot of work and expertise to get the OIC through the system. The average agent spends about ten to twenty hours working these cases. I know this because I was one.

 

What is a Offer in Compromise

(OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles a taxpayer’s tax liabilities for less than the full amount owed.

Taxpayers who can fully pay the liabilities through an installment agreement or other means, generally won’t qualify for an OIC in most cases.

 

To qualify for an OIC, the taxpayer must have filed all tax returns, made all required estimated tax payments for the current year, and made all required federal tax deposits for the current quarter if the taxpayer is a business owner with employees.

 

In most cases, the IRS won’t accept an OIC unless the amount offered by a taxpayer is equal to or greater than the reasonable collection potential (RCP).

The RCP is how the IRS measures the taxpayer’s ability to pay.

The RCP includes:

The value that can be realized from the taxpayer’s assets, such as real property, automobiles, bank accounts, and other property. In addition to property, the RCP also includes anticipated future income less certain amounts allowed for basic living expenses.

 

Reasons for the Offer in Compromise

 

The IRS may accept an OIC based on one of the following reasons:

1. The IRS can accept a compromise if there is doubt as to liability. A compromise meets this criterion only when there’s a genuine dispute as to the existence or amount of the correct tax debt under the law.

2. The IRS can accept a compromise 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.

3. The IRS can accept a compromise 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.

 

The Forms Necessary to File the OIC

 

When submitting an OIC based on doubt as to collectibility or effective tax administration, taxpayers must use the most current version of Form 656, Offer in Compromise, and also submit Form 433-A (OIC), Collection Information Statement for Wage Earners and Self-Employed Individuals, and/or Form 433-B (OIC), Collection Information Statement for Businesses.

A taxpayer submitting an OIC based on doubt as to liability must file a Form 656-L, Offer in Compromise (Doubt as to Liability) (PDF), instead of Form 656 and Form 433-A (OIC) and/or Form 433-B (OIC). Form 656 and referenced collection information statements are available in the Offer in Compromise Booklet, Form 656-B (PDF).
Application Fee

In general, a taxpayer must submit an application fee for the amount stated on Form 656. Don’t combine this fee with any other tax payments.

 

However, there are two exceptions to this requirement:

1.  no application fee is required if the OIC is based on doubt as to liability.
2.  the fee isn’t required if the taxpayer is an individual (not a corporation, partnership, or other entity) who qualifies for the low-income exception.

There are two alternative options for qualifying. The first is that the individual’s adjusted gross income, as determined for the most recent taxable year for which such information is available, falls at or below 250 percent of the poverty guidelines published by the Department of Health and Human Services.

The second is that the household’s gross monthly income x 12 months falls at or below 250 percent of the poverty guidelines published by the Department of Health and Human Services.

For both options, section 1 of Form 656 contains the Low-Income Certification guidelines to assist taxpayers in determining whether they qualify for the low-income exception. A taxpayer who claims the low-income exception should complete section 1 of Form 656 and check the certification box.

 

Payment Options For the Offer on Compromise

 

1. Lump Sum Cash Offer

Taxpayers may choose to pay the offer amount in a lump sum or in installment payments. A “lump sum cash offer” is defined as an offer payable in 5 or fewer installments within 5 or fewer months after the offer is accepted.

If a taxpayer submits a lump sum cash 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 application fee. The 20 percent payment is generally nonrefundable, meaning it won’t be returned to the taxpayer even if the offer is rejected or returned to the taxpayer without acceptance.

Instead, the 20 percent payment 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 payment.

 

2. Periodic Payment Offer.

An offer is called a “periodic payment offer” under the tax law if it’s payable in 6 or more monthly installments and within 24 months after the offer is accepted. 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 application fee. This amount is generally nonrefundable, just like the 20 percent payment required for a lump sum cash 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.

Upon acceptance of an OIC, the taxpayer may no longer designate offer payments to any tax liability specifically covered in the offer agreement.

 

Suspension of the IRS Collection Case

Ordinarily, the statutory time within which the IRS may engage in collection activities is suspended during the period that the OIC is pending, for 30 days immediately following the IRS’s rejection of an OIC, and for the period in which a timely appealed rejection is being considered by the IRS Office of Appeals.

 

Offer Terms if accepted

 

If the IRS accepts the taxpayer’s offer, the taxpayer will have agreed to fully comply with the tax laws.

Additionally, any refunds due within the calendar year in which the offer is accepted will be applied to the tax debt. If the taxpayer doesn’t abide by all the terms and conditions of the OIC, the IRS may determine that the OIC is in default.

For doubt as to collectibility and effective tax administration OICs, the terms and conditions include a requirement that the taxpayer timely file all tax returns and timely pay all taxes for 5 years from the date of acceptance of the OIC.

When the IRS terminates an OIC, the agreement is no longer in effect and the IRS may then collect the amounts originally owed (less payments made), plus interest and penalties.

 

Right to Appeal the Offer in Compromise if rejected

 

If the IRS rejects an OIC, the taxpayer will be notified by mail. The letter will explain the reason that the IRS rejected the offer and will provide detailed instructions on how the taxpayer may appeal the decision to the IRS Office of Appeals.

The appeal must be made within 30 days from the date of the letter.

 

Return of an Offer in Compromise

In some cases, an OIC is returned to the taxpayer rather than rejected, because the taxpayer didn’t submit necessary information, filed for bankruptcy, failed to include a required application fee or nonrefundable payment with the offer, hasn’t filed required tax returns, or hasn’t paid current tax liabilities at the time the IRS is considering the offer.

A returned offer is different from a rejection because there’s no right to appeal when the IRS returns the offer. However, once cured, the offer may be submitted again.

 

Former IRS Agent, Michael D. Sullivan Explains the Offer In Compromise Program

Ft.Lauderdale, Miami + Christian Tax Firm + Help IRS Tax Problems + Tax Lawyer, IRS Attorney + Owe IRS + Tax Debt Settlements + File Back Tax Returns + Offer in Compromise

We are Former IRS Agents that worked out of the South Florida IRS offices. We know all the systems. Since 1982,   Affordable. <><

 

Proverbs 12:15

The way of a fool is right in his own eyes, but a wise man listens to advice.

Proverbs 11:14

Where there is no guidance, a people falls, but in an abundance of counselors there is safety.

 

We are staffed with Christian tax attorneys, tax lawyers, CPA’s and Former IRS Agents and a plethora of other tax professionals who can deal with IRS debt.

 

We are the affordable tax firm that have been practicing in South Florida since 1982.

 

We have worked thousands of cases since 1982 and have over 100 years of working directly for the Internal Revenue Service.

 

We can help you with any IRS tax issue that you have, we have seasoned and veteran attorneys, CPAs and former IRS agents can help you with any IRS tax debt, IRS settlement called an offer compromise or offer you various types of IRS tax relief.

 

If you have any back IRS debt or filling issues contact us today and we can tell you exactly how to solve your problem. Affordable, since 1982.

 

Last year alone over 14 million people did not file or pay their taxes timely.

 

We are former IRS agents, managers and teaching instructors and know all the methodologies, settlement theories and negotiation strategies to resolve any tax debt that may be facing you.

 

Since 1982 we have been resolving tax debt issues for thousands of clients.

We can solve any IRS tax matter or issue and review with you carefully weigh possible to solve any IRS problem.

 

We have worked thousands of cases and we have been former IRS agents, managers, supervisors and teaching instructors.

 

Within five minutes of hearing about your current situation we can give you an exact remedy to end your IRS tax problem file your back tax returns and settle your back tax problems.

 

Many of the taxpayers who call us need to file back tax returns and their variety of reasons why taxpayers have not who have not filed. The reason makes no difference. The bottom line is, sooner or later you have to file back tax returns.

We have a very easy and simple process to file all your back tax returns and settle your debt all at the same time.

 

 

Filing your Back Taxes with IRS is a Must

 

With or without records we can complete all your tax returns due to our enormous amount of experience we have in filing back tax returns.

We can simply pull IRS transcripts and prepare all back tax returns or we can prepare back tax returns to the process of IRS reconstructions. As former IRS agents and auditors we know exactly how to file your back tax returns with no records.

 

Options for Settling IRS Tax Debt to IRS

There are different ways to settle IRS tax debt and there are generally three programs that the taxpayer can qualify for.

 

The first is a hardship or currently non-collectible program.

There is good news and bad news about this program. After IRS takes a current documented financial statement, IRS may determine you are not collectible at the current time. IRS will suspend your case for a period of 1 to 3 years and put a freeze on it.

The good news is IRS’s off your back for a couple of years and the bad news is penalties and interest still run on it.

Taxpayer should also be aware that the case will come out every couple of years to be reviewed.

 

The second program is the installment agreement or monthly payment.

 

After IRS takes a current financial statement they will determine how much money they expect from you on a monthly basis. IRS has certain national standards test that they use to determine if the taxpayer will be placed into a payment agreement. You can find the national standards on our site.

 

The third way to sell your debt is to qualify for an offer in compromise, this is where you can settle your debt for pennies on the dollar. it’s important for taxpayers to understand that not all are eligible for the offer in compromise program. There is a pre-qualifier tool. I suggest everyone who wants to go the route was the direction of the offer make sure they are truly qualified before wasting time and money.

As a former IRS agent I taught the offer in compromise program at the IRS. I can tell you within seconds of your settlement candidate.

After review of your current financial statement we will let you know which of the program to qualify for and start to remove IRS out of your life.

 

Call us today for free initial tax consultation and we will walk you through the process and tell you how many years you have to file and let you know the different tax strategies based on your current financial conditions.

 

You will never have to speak to the Internal Revenue Service, eve

We handle all the communication.

Feel free to call us by voice or Skype us directly.

We are a full-service firm with all work being done in-house.

When you call our office you will speak to a true tax professional and not a salesperson. we know the system inside and out and have saved thousands of dollars for clients over the years.

 

Ft.Lauderdale, Miami + Christian Tax Firm + Help IRS Tax Problems + Tax Lawyer, IRS Attorney + Owe IRS + Tax Debt Settlements + File Back Tax Returns + Offer in Compromise

 

Ft.Lauderdale + Free Consults + Options To Resolve Back IRS Tax Debt + Former IRS Agent Tax Help + Christian Professional Tax Service Company

I am a Former IRS Agent and Teaching Instructor with the IRS. A Local South Florida Tax Firm.

I also worked the offer in compromise program for my former boss, the Internal Revenue Service.  Since 1982.

 

Proverbs 12:15 ESV:

The way of a fool is right in his own eyes, but a wise man listens to advice.<><

 

Taxpayers need to know the facts about ending IRS back tax problem.

There are five different methods to END your IRS back tax problem.

 

The 5 ways or programs for IRS Tax Debt:

 

1. By Payment in Full, obvious but the easiest way to eliminate the problem,

 

2. By monthly or installment payments, there are various type payment plans. Monthly installment plans are based on the facts and circumstances of your case. Once again your ability to pay and your current financial statement will determine how IRS will move forward.

 

3. By the Acceptance of an offer in compromise, (this is how your completely eliminate the tax debt)

Last year the IRS reviewed over 78,000 offers in compromise and accepted approximately 38% for an average settlement of $9500. Don’t let these numbers misguide you, these are based on averages only and different from case to case.

 

4. By statue expiration. (this is how your completely eliminate the tax debt.

The general statute of limitation on collection cases is 10 years from the date of the assessment.

The assessment date is when your tax return actually gets puts on the IRS computer system. You need an IRS tax transcript to find out when that period begins. Please understand that there are times when the statute of limitations are extended; such as the filing of an offer in compromise, bankruptcy, litigation, and the filing of a collection due process. As I said before you must check your IRS transcript to find out when the statute does toll & expire.

 

5. For those who cannot pay their debt IRS has a non-collectible or hardship program. 40% of all cases in the open inventory in the collection division are close by hardship.

A hardship case is placed in a non-collectible status after IRS takes a look at a financial statement in its verified documentation. When IRS determines that it is uncollectible, the case is frozen for one or two years. It is only a temporary status, generally these cases do come back out Heyfor review two years later. IRS will continue to take any refund during those periods of time

 

Upon your initial free tax consultation we will walk through the various programs and let you know the easiest way to exactly resolve your IRS back tax debt.

Everyone needs more info on the “The Offer in Compromise”, here it is.

First and foremost, as a former IRS agent and teaching instructor I accepted and rejected offers from the Internal Revenue Service. I taught the offer in compromise program to IRS agents who were qualified to step up subtle tax debt.

There was a lot of training involved in a revenue officer agent to become an offer specialist, they use seasoned revenue officers who understand the financial process and what’s in the best interest for the government and the taxpayer.

Everyone wants to settle with IRS but there is a very specific format and methodology that must be followed.

There are many myths about the pennies on the dollar program so you need to hear the truth before spending any money.

There are many firms that take your money and then let you know after the fact you are not qualified. you need to know before hand whether you have a fighting chance. Being a former IRS agent employee gives you a huge advantage of having the review your offer in compromise to settle your tax debt.

 

At our firm we will take no clients money until we are no they are a true candidate for the settlement program.

 

There are many myths about the offer in compromise so IRS in their great wisdom provides a pre-qualifier tool to find out if taxpayers are eligible for the offer in compromise program so taxpayers do not give their hard-earned money to unsuspecting tax firms promising tax settlements.

 

The IRS Offer in Compromise + The New Michael D. Sullivan, Former IRS Agent Initiative

 

If you have any questions or issues about the offer in compromise program to settle or negotiate your debt for pennies on the dollar, call us today and we will review your case to let you know if you are a qualified and suitable candidate.

The IRS spends a lot of due diligence before they accept an offer in compromise.
It is possible for the IRS to spend over 20-40 hours working an offer in compromise.

 

IRS uses the Accuriant search engine, Google in a variety of other searches to check on assets and histories of taxpayers and businesses.

 

You want to make sure you are accurate and truthful on your financial statement.

The higher the dollar case the greater the due diligence. Many people ask why is this process not that simple. The answer is this, all accepted offers in compromise are a matter of public record for one year in the regional office where the offer was accepted.

The Internal Revenue Service does all that it can to make sure there is a matter of consistency within the offer in compromise program if not still be a tremendous public outcry.

One base rule for the offer in compromise program. IRS is only concerned about your income and assets. This includes your equity in your home, pension plans are IRA’s.

One nice thing about the IRS accepting your offer in compromise is that once you meet the terms of the settlement they will release your federal tax lien.

Below you will find out what you need to know about the offer in compromise program.

The IRS will return any newly filed Offer in Compromise application where the taxpayer has not filed all required tax returns. The internal revenue service will immediately reject your offer in compromise. Any fees included with the OIC will also be returned.

This new policy does not apply to current year tax returns if there is a valid extension on file.

 

When IRS determines that they will settle with you, IRS will consider your unique set of facts and circumstances: these are some of the factors

 

• Ability to pay;

• Income;

• Expenses; and

• Asset equity.

 

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

Right now that is appox. 9 months

Make sure you are eligible for the offer in compromise to settle your back IRS tax debt.

 

Before 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.

Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.

Submit your offer in compromise to settle your IRS tax debt

 

You’ll find step-by-step instructors and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B (PDF). Your completed offer package will include:

• Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms;

• Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;

• $186 application fee (non-refundable); and

• Initial payment (non-refundable) for each Form 656.

Select a payment option on an IRS offer settlement:

 

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:(most common)

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 process to settle your tax debt on an IRS settlement offer to pay less tax

 

While your offer to pay less taxes is being evaluated:

• 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);

• A Notice of Federal Tax Lien may be filed;

• Other collection activities are suspended;

• The legal assessment and collection period is extended;

• Make all required payments associated with your offer;

• You are not required to make payments on an existing installment agreement; and

• Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.

Call us today for free initial tax consultation.

 

Ft.Lauderdale + Free Consults + Options To Resolve Back IRS Tax Debt + Former IRS Agent Tax Help + Christian Professional Tax Service Company

 

FIVE Ways to End Your IRS Back Tax Debt Problems + Former IRS Agent, Revenue Officer, Michael Sullivan

I am a Former IRS Agent, Revenue Officer, and teaching instructor with the IRS. I also worked the offer in compromise program with the Internal Revenue Service.

 

Taxpayers need to know the facts about ending  IRS back tax problem.

There are five different methods to END your IRS back tax problem.

 

 

The 5 ways or programs for IRS Tax Debt

 

1. By Payment in Full, obvious but the easiest way to eliminate the problem,

2. By monthly or installment payments, there are various type payment plans. Monthly installment plans are based on the facts and circumstances of your case. Once again your ability to pay and your current financial statement will determine how IRS will move forward.

3. By the Acceptance of an offer in compromise, (this is how your completely eliminate the tax debt)

Last year the IRS reviewed over  78,000 offers in compromise and accepted approximately 38% for an average settlement of $9500. Don’t let these numbers misguide you, these are based on averages only and different from case to case.

4. By statue expiration. (this is how your completely eliminate the tax debt.

The general statute of limitation on collection cases is 10 years from the date of the assessment.

The assessment date is when your tax return actually gets puts on the IRS computer system. You need an IRS tax transcript to find out when that period begins. Please understand that there are times when the statute of limitations are extended; such as the filing of an offer in compromise, bankruptcy, litigation, and the filing of a collection due process. As I said before you must check your IRS transcript to find out when the statute does toll & expire.

5. For those who cannot pay their debt IRS has a non-collectible or hardship program. 40% of all cases in the open inventory in the collection division are close by hardship.

A hardship case is placed in a non-collectible status after IRS takes a look at a financial statement in its verified documentation. When IRS determines that it is uncollectible, the  case is frozen for one or two years. It is only a temporary status,  generally these cases do come back out Heyfor review two years later. IRS will continue to take any refund during those periods of time

Upon your initial free tax consultation we will walk through the various programs and let you know the easiest way to exactly resolve your back tax debt.

 

 “The Offer in Compromise”

 

First and foremost, as a former IRS agent and teaching instructor I accepted and rejected offers from the Internal Revenue Service. I taught the offer in compromise program to IRS agents who were qualified to step up subtle tax debt.

There was a lot of training involved in a revenue officer agent to become an offer specialist, they use seasoned revenue officers who understand the financial process and what’s in the best interest for the government and the taxpayer.

Everyone wants to settle with IRS but there is a very specific format and methodology that must be followed.

There are many myths about the pennies on the dollar program so you need to hear the truth before spending any money.

There are many firms that take your money and then let you know after the fact you are not qualified. you need to know before hand whether you have a fighting chance. Being a former IRS agent employee gives you a huge advantage of having the review your offer in compromise to settle your tax debt.

At our firm we will take no clients money until we are no they are a true candidate for the settlement program.

There are many myths about the offer in compromise so IRS in their great wisdom provides a pre-qualifier tool to find out if taxpayers are eligible for the offer in compromise program so taxpayers do not give their hard-earned money to unsuspecting tax firms promising tax settlements.

 

The Offer in Compromise + The New Michael D. Sullivan, Former IRS Agent Initiative

 

If you have any questions or issues about the offer in compromise program to settle or negotiate your debt for pennies on the dollar, call us today and we will review your case to let you know if you are a qualified and suitable candidate.

The IRS spends a lot of due diligence before they accept an offer in compromise.
It is possible for the IRS to spend over 20-40 hours working an offer in compromise.

IRS uses the Accuriant search engine, Google in a variety of other searches to check on assets and histories of taxpayers and businesses.

You want to make sure you are accurate and truthful on your financial statement.

The higher the dollar case the greater the due diligence. Many people ask why is this process not that simple. The answer is this, all accepted offers in compromise are a matter of public record for one year in the regional office where the offer was accepted.

The Internal Revenue Service does all that it can to make sure there is a matter of consistency within the offer in compromise program if not still be a tremendous public outcry.

 

One base rule for the offer in compromise program. IRS is only concerned about your income and assets. This includes your equity in your home, pension plans are IRA’s.

One nice thing about the IRS accepting your offer in compromise is that once you meet the terms of the settlement they will release your federal tax lien.

Below you will find out what you need to know about the offer in compromise program.

The IRS will return any newly filed Offer in Compromise application where the taxpayer has not filed all required tax returns. The internal revenue service will immediately reject your offer in compromise. Any fees included with the OIC will also be returned.

This new policy does not apply to current year tax returns if there is a valid extension on file.

 

When IRS determines that they will settle with you, IRS will consider your unique set of facts and circumstances:

• Ability to pay;

• Income;

• Expenses; and

• Asset equity.

 

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

Right now that is appox. 9 months

Make sure you are eligible for the offer in compromise to settle your back IRS tax debt.

Before 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.

Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.

 

Submit your offer in compromise to settle your IRS tax debt

 

You’ll find step-by-step instructors and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B (PDF). Your completed offer package will include:

• Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms;

• Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;

• $186 application fee (non-refundable); and

• Initial payment (non-refundable) for each Form 656.

Select a payment option on an IRS offer settlement:

 

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:(most common)

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 process to settle your tax debt on an IRS settlement offer to pay less tax

 

While your offer to pay less taxes is being evaluated:

• 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);

• A Notice of Federal Tax Lien may be filed;

• Other collection activities are suspended;

• The legal assessment and collection period is extended;

• Make all required payments associated with your offer;

• You are not required to make payments on an existing installment agreement; and

• Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.

Call us today for free initial tax consultation and speak to a true IRS tax expert who will walk you through the process of how to negotiate with IRS over back taxes and see if you qualify to pay less taxes for an IRS tax settlement.

 

5 Ways to End Your IRS Back Tax Debt Problem + Former IRS, Revenue Officer, Michael Sullivan

Atlanta + Owe Back IRS Tax Debt + Offer in Compromise + Installment/Monthly Payments + Hardships + CHRISTIAN TAX FIRM = SINCE 1982, FORMER IRS + Cape Coral, Punta Gorda, Port Charlotte

A Christian IRS Tax Services Firm, IRS Representation, Since 1982, A Full IRS TAX SERVICES  Firm.<><

Michael Sullivan Michael D. Sullivan, Former IRS Agent Expert, Former IRS Agent and teaching instructor.

Proverbs 12:15 ESV:

The way of a fool is right in his own eyes, but a wise man listens to advice.<><

 

There are different Ways to Solve Back IRS Debt Problems to get tax relief for back taxes, Since 1982, Former IRS Agents who Know the System inside and out. 866-700-1040

Free Christian Consults w/ Specialists. <><

 

We will review with you the various examinations to help, get rid of, relieve or eliminate you of your current IRS tax debt in obligation. We can file all back taxes as well.

We will walk through all the programs to see what programs you qualify. Since 1982, Former IRS.

We are an Affordable professional tax firm that can offer you a free initial tax consultation and walk you through the process if you have a back balance due the Internal Revenue Service.

If you have balance due on back taxes and are looking to set up a payment agreement, file firm offer in compromise to settle your back tax debt or you need to file back tax returns, call us today for a free initial tax consultation.

We have worked out of the local, district, and regional tax offices of the Internal Revenue Service. We are true IRS Experts in the area of IRS tax settlement services.

 

How does IRS dispose of Tax Debt Cases?

 

The 5 ways or programs for IRS Tax Debt

1. By Payment in full of the total tax debt,

2. By MONTHLY Payments,

3. By the Acceptance of an offer in compromise, (this is how your completely eliminate the tax debt)

4. By statue expiration. (this is how your completely eliminate the tax debt)

5. For those who cannot pay their debt IRS has a non-collectible or hardship program.

Upon your initial free tax consultation we will walk through the various programs and let you know the easiest way to exactly resolve your back tax debt.

The most important aspect of working tax debt cases is completely dependent on the individual or business financial statements.It is the most important factor.

 

Your current documented financial statement determines all.

IRS uses a very simple formula to determine their settlement process.

It is all about your assets and your income and your current necessary living expenses. There is a very specific formula.

IRS only allows certain expenses that are considered necessary living expenses.

There are charts available on what IRS allows.

Anything not on those charts are disallowed and this is what trips out most taxpayers.

A simple review of your current financial statement and we can let you know the different programs you may be eligible for.

You will need to complete form 433F or form 433A for us to make a current determination. IRS will only use their financial statements.

It is critically important to know that you cannot pay less taxes unless you qualify for the offer in compromise program.

“IRS has a very specific formula that they use to compute the offer in compromise”.

The only way you can pay less tax is through the offer in compromise program. There is also an IRS pre-qualifier form.

I have over 40 years in this industry and it is critical if you want to settle your tax debt for the lowest possible amount you should go to true tax professionals.

 

Tax Returns Info:

All your tax returns will have to be filed before IRS will work your offer in compromise.

If you need help with your tax preparation call us and we can have a staff of Experts accountants and tax preparers complete all returns with or without records.

Also beware that many times the Internal Revenue Service want to make sure you are current in your withholding tax or your estimate tax payments are they will not close your work your case until you become fully compliant.

Beware of most IRS tax settlement services companies.

We have been in this industry a long time there are many good companies in as many bad tax settlement service companies. For you to evaluate in IRS tax settlement service company you must ask to speak directly to the person who will be working your case.

Generally, when you call a tax services company, you are speaking to what is called a closer. That person is a salesman and will actually bill you and charge you for the services then your case gets passed down the line.

When you call fresh start tax, you will speak directly to the person who works your case and that person can give you a true evaluation on how and if IRS will accept an IRS tax settlement .

All IRS tax settlement service firms and companies are different.
Check out the BBB rating and make sure you have a true tax professional working your case.

I suggest you always hire someone who’s worked at the IRS because they are aware of the methodologies required to get your offer in compromise through the system.

 

Other ways to Solve Back IRS Taxes Debt or Back IRS Tax Issues

As a general rule, you may apply for hardships, payment agreements or settle for an offer in compromise to settle your debt for pennies on the dollar.

We will review with you your financial statement and let you know what the lowest possible settlement IRS will accept. 40% of all persons that owe back taxes are issue into a hardship or are currently not collectible status and 6.5 million taxpayers enter into annual payment agreements.

The other way to pay less tax is for the ten-year statute of limitation to run out and your debt will be written off by the Internal Revenue Service.

If you want to file an offer in compromise I thought you’d like to know what the statistics are.

Last year over 78,000 offers in compromise/IRS tax debt settlement were filed by taxpayers and over 38% of those were accepted for average of $6500 per case. Approximately 40,000 taxpayers last year paid less tax.

At the current time there are 7500 cases in the offer queue. The average wait time is nine months. There are not enough IRS employees to work the current inventory.

Keep in mind this is a national average in your case is completely dependent on your individual financial statement.

We will not file for an offer in compromise unless you are a true candidate for the program. You must qualify.

There is a pre qualifier tool to find out if you are a settlement candidate for income or business tax debt.

 

Upon your initial tax consultation we’ll let you know if you are eligible to have an accepted offer in compromise by the Internal Revenue Service.

Due to the new fresh start tax initiative Internal Revenue Service had made it easier to file for the program. However this program is not for everybody.

Everyone wants to settle with IRS but there is a very specific format and methodology that must be followed.

There are many myths about the pennies on the dollar program so you need to hear the truth before spending any money.

There are many firms that take your money and then let you know after the fact you are not qualified. you need to know before hand whether you have a fighting chance. Being a former IRS agent employee gives you a huge advantage of having the review your offer in compromise to settle your tax debt.

At our firm we will take no clients money until we are no they are a true candidate for the settlement program.

There are many myths about the offer in compromise so IRS in their great wisdom provides a pre-qualifier tool to find out if taxpayers are eligible for the offer in compromise program so taxpayers do not give their hard-earned money to unsuspecting tax firms promising tax settlements.

 

The Offer in Compromise

If you have any questions or issues about the offer in compromise program to settle or negotiate your debt for pennies on the dollar, call us today and we will review your case to let you know if you are a qualified and suitable candidate.

The IRS spends a lot of due diligence before they accept an offer in compromise.

It is possible for the IRS to spend over 20-40 hours working an offer in compromise.

IRS uses the Accuriant search engine, Google in a variety of other searches to check on assets and histories of taxpayers and businesses.

You want to make sure you are accurate and truthful on your financial statement.

The higher the dollar case the greater the due diligence. Many people ask why is this process not that simple. The answer is this, all accepted offers in compromise are a matter of public record for one year in the regional office where the offer was accepted.

The Internal Revenue Service does all that it can to make sure there is a matter of consistency within the offer in compromise program if not still be a tremendous public outcry.

One base rule for the offer in compromise program. IRS is only concerned about your income and assets. This includes your equity in your home, pension plans are IRA’s.

One nice thing about the IRS accepting your offer in compromise is that once you meet the terms of the settlement they will release your federal tax lien.

Below you will find out what you need to know about the offer in compromise program.

 

The IRS will return any newly filed Offer in Compromise application where the taxpayer has not filed all required tax returns. The internal revenue service will immediately reject your offer in compromise. Any fees included with the OIC will also be returned.

This new policy does not apply to current year tax returns if there is a valid extension on file.

When IRS determines that they will settle with you, IRS will consider your unique set of facts and circumstances:

• Ability to pay;

• Income;

• Expenses; and

• Asset equity.

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

 

Right now that is appox. 9 months, yep, that long!

Make sure you are eligible for the offer in compromise to settle your back IRS tax debt.

Before 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.

 

Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.

Submit your offer in compromise to settle your IRS tax debt

You’ll find step-by-step instructors and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B (PDF). Your completed offer package will include:

• Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms;

• Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;

• $186 application fee (non-refundable); and

• Initial payment (non-refundable) for each Form 656.

Select a payment option on an IRS offer settlement

 

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:(most common)

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 process to settle your tax debt on an IRS settlement offer to pay less tax

While your offer to pay less taxes is being evaluated:

• 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);

• A Notice of Federal Tax Lien may be filed;

• Other collection activities are suspended;

• The legal assessment and collection period is extended;

• Make all required payments associated with your offer;

• You are not required to make payments on an existing installment agreement; and

• Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.

Call us today for free initial tax consultation and speak to a true IRS tax expert who will walk you through the process of how to negotiate with IRS over back taxes and see if you qualify to pay less taxes for an IRS tax settlement.

Atlanta + Owe Back IRS Tax Debt + Offer in Compromise + Installment/Monthly Payments + Hardships + CHRISTIAN TAX FIRM = SINCE 1982, FORMER IRS + Cape Coral, Punta Gorda, Port Charlotte

CHRISTIAN TAX COMPANY + IRS Tax Debt + Offer in Compromise + SETTLE, PAYMENTS, HARDSHIPS + Chattanooga + Birmingham + Roanoke/Lynchburg + Shreveport + Tri-Cities, Tenn.

A Christian IRS Tax Services Firm, IRS Representation, Since 1982, A FULL Tax Services Firm.<><

 

 

Proverbs 12:15 ESV:

The way of a fool is right in his own eyes, but a wise man listens to advice.<><

 

There are different Ways to Solve Back IRS Debt Problems to get tax relief for back taxes, Since 1982, Former IRS Agents who Know the system. 1 (877) 367-7870

Free Christian Consults w/ Specialists.

 

We will review with you the various examinations to help, get rid of, relieve or eliminate you of your current IRS tax debt in obligation. We can file all back taxes as well.

Call today and hear the truth from former IRS Agents.<><

We will walk through all the programs to see what programs you qualify. Since 1982, Former IRS.

We are an Affordable professional tax firm that can offer you a free initial tax consultation and walk you through the process if you have a back balance due the Internal Revenue Service.

If you have balance due on back taxes and are looking to set up a payment agreement, file firm offer in compromise to settle your back tax debt or you need to file back tax returns, call us today for a free initial tax consultation.

 

THE FIRM

We have worked out of the local, district, and regional tax offices of the Internal Revenue Service. We are true IRS Experts in the area of IRS tax settlement services.

How does IRS dispose of Tax Debt Cases? The 5 ways or programs for IRS Tax Debt

1. By Payment in full,

2. By MONTHLY Payments,

3. By the Acceptance of an offer in compromise, (this is how your completely eliminate the tax debt)

4. By statue expiration. (this is how your completely eliminate the tax debt)

5. For those who cannot pay their debt IRS has a non-collectible or hardship program.

 

Upon your initial free tax consultation we will walk through the various programs and let you know the easiest way to resolve your back tax debt.

 

The most important aspect of working tax debt cases is completely dependent on the individual or business financial statements.It is the most important factor.

Your current documented financial statement determines all.

IRS uses a very simple formula to determine their settlement process.

It is all about your assets and your income and your current necessary living expenses. There is a very specific formula.

IRS only allows certain expenses that are considered necessary living expenses.

There are charts available on what IRS allows. Anything not on those charts are disallowed and this is what trips out most taxpayers.

A simple review of your current financial statement and we can let you know the different programs you may be eligible for.

You will need to complete form 433F or form 433A for us to make a current determination. IRS will only use their financial statements.

It is critically important to know that you cannot pay less taxes unless you qualify for the offer in compromise program.

IRS has a very specific formula that they use to compute the offer in compromise.

The only way you can pay less tax is through the offer in compromise program. There is also an IRS pre-qualifier form.

I have over 40 years in this industry and it is critical if you want to settle your tax debt for the lowest possible amount you should go to true tax professionals.

 

Important information

All your tax returns will have to be filed before IRS will work your offer in compromise.

If you need help with your tax preparation call us and we can have a staff of Experts accountants and tax preparers complete all returns with or without records.

Also beware that many times the Internal Revenue Service want to make sure you are current in your withholding tax or your estimate tax payments are they will not close your work your case until you become fully compliant.

 

Beware of IRS Tax DEBT Settlement Services Companies.

 

We have been in this industry a long time there are many good companies in as many bad tax settlement service companies. For you to evaluate in IRS tax settlement service company you must ask to speak directly to the person who will be working your case.

Generally, when you call a tax services company, you are speaking to what is called a closer. That person is a salesman and will actually bill you and charge you for the services then your case gets passed down the line.

When you call fresh start tax, you will speak directly to the person who works your case and that person can give you a true evaluation on how and if IRS will accept an IRS tax settlement .

All IRS tax settlement service firms and companies are different.

Check out the BBB rating and make sure you have a true tax professional working your case.

I suggest you always hire someone who’s worked at the IRS because they are aware of the methodologies required to get your offer in compromise through the system.

 

OPTIONS & Other ways to Solve Back IRS Taxes Debt or Back Tax Issues

 

As a general rule, you may apply for hardships, payment agreements or settle for an offer in compromise to settle your debt for pennies on the dollar.

We will review with you your financial statement and let you know what the lowest possible settlement IRS will accept. 40% of all persons that owe back taxes are issue into a hardship or are currently not collectible status and 6.5 million taxpayers enter into annual payment agreements.

The other way to pay less tax is for the ten-year statute of limitation to run out and your debt will be written off by the Internal Revenue Service.

If you want to file an offer in compromise I thought you’d like to know what the statistics are.

Last year over 78,000 offers in compromise/IRS tax debt settlement were filed by taxpayers and over 38% of those were accepted for average of $6500 per case. Approximately 40,000 taxpayers last year paid less tax.

 

At the current time there are 7500 cases in the offer queue. The average wait time is nine months. There are not enough IRS employees to work the current inventory.

Keep in mind this is a national average in your case is completely dependent on your individual financial statement.

We will not file for an offer in compromise unless you are a true candidate for the program. You must qualify.

There is a pre -qualifier tool to find out if you are a settlement candidate for income or business tax debt.

 

Upon your initial tax consultation we’ll let you know if you are eligible to have an accepted offer in compromise by the Internal Revenue Service.

Due to the new fresh start tax initiative Internal Revenue Service had made it easier to file for the program. However this program is not for everybody.

Everyone wants to settle with IRS but there is a very specific format and methodology that must be followed.

There are many myths about the pennies on the dollar program so you need to hear the truth before spending any money.

There are many firms that take your money and then let you know after the fact you are not qualified. you need to know before hand whether you have a fighting chance. Being a former IRS agent employee gives you a huge advantage of having the review your offer in compromise to settle your tax debt.

At our firm we will take no clients money until we are no they are a true candidate for the settlement program.

There are many myths about the offer in compromise so IRS in their great wisdom provides a pre-qualifier tool to find out if taxpayers are eligible for the offer in compromise program so taxpayers do not give their hard-earned money to unsuspecting tax firms promising tax settlements.

The Offer in Compromise + The New Michael D. Sullivan, Former IRS Agent Initiative

 

If you have any questions or issues about the offer in compromise program to settle or negotiate your debt for pennies on the dollar, call us today and we will review your case to let you know if you are a qualified and suitable candidate.

The IRS spends a lot of due diligence before they accept an offer in compromise.

It is possible for the IRS to spend over 20-40 hours working an offer in compromise.

IRS uses the Accuriant search engine, Google in a variety of other searches to check on assets and histories of taxpayers and businesses.

You want to make sure you are accurate and truthful on your financial statement.

The higher the dollar case the greater the due diligence. Many people ask why is this process not that simple. The answer is this, all accepted offers in compromise are a matter of public record for one year in the regional office where the offer was accepted.

The Internal Revenue Service does all that it can to make sure there is a matter of consistency within the offer in compromise program if not still be a tremendous public outcry.

One base rule for the offer in compromise program. IRS is only concerned about your income and assets. This includes your equity in your home, pension plans are IRA’s.

One nice thing about the IRS accepting your offer in compromise is that once you meet the terms of the settlement they will release your federal tax lien.

Below you will find out what you need to know about the offer in compromise program.

 

UPDATES:

 

The IRS will return any newly filed Offer in Compromise application where the taxpayer has not filed all required tax returns. The internal revenue service will immediately reject your offer in compromise. Any fees included with the OIC will also be returned.

This new policy does not apply to current year tax returns if there is a valid extension on file.

When IRS determines that they will settle with you, IRS will consider your unique set of facts and circumstances:

• Ability to pay;

• Income;

• Expenses; and

• Asset equity.

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

Right now that is appox. 9 months

Make sure you are eligible for the offer in compromise to settle your back IRS tax debt.

 

Before 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.

Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.

Submit your offer in compromise to settle your IRS tax debt

 

You’ll find step-by-step instructors and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B (PDF). Your completed offer package will include:

 

• Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms;

• Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;

• $186 application fee (non-refundable); and

• Initial payment (non-refundable) for each Form 656.

Select a payment option on an IRS offer settlement

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:(most common)

 

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 process to settle your tax debt on an IRS settlement offer to pay less tax

 

While your offer to pay less taxes is being evaluated:

• 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);

• A Notice of Federal Tax Lien may be filed;

• Other collection activities are suspended;

• The legal assessment and collection period is extended;

• Make all required payments associated with your offer;

• You are not required to make payments on an existing installment agreement; and

CHRISTIAN TAX COMPANY + IRS Tax Debt + Offer in Compromise + SETTLE, PAYMENTS, HARDSHIPS + Chattanooga + Birmingham + Roanoke/Lynchburg + Shreveport + Tri-Cities, Tenn.