There are different options to resolve Back IRS Problems if you owe back taxes, Since 1982, Former IRS Agents who Know the system.
There are multiple solutions that you may be eligible for.
We consultations 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 over 95 years of direct IRS work experience.
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 basic 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 consultations need to complete form 433F or form 433A for us to make a current determination. IRS consultations 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.
You must know the system to have success.
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.
All your tax returns consultations have to be filed before IRS consultations 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 consultations not close your work your case until you become fully compliant.
Beware of 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 consultations 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 consultations actually bill you and charge you for the services then your case gets passed down the line.
When you call fresh start tax, you consultations speak directly to the person who works your case and that person can give you a true evaluation on how and if IRS consultations 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 Resolve Back IRS Taxes Debt or tax problems:
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 consultations review with you your financial statement and let you know what the lowest possible settlement IRS consultations accept. 40% of all persons that owe back taxes are placed into a hardship or are currently not collectible status and 6.5 million taxpayers enter into annual payment agreements.
These programs are designed to keep IRS off your back.
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 recommend not file for an offer in compromise unless you are a true candidate for the program.
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 consultations 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 Fresh Start Tax 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 consultations 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 accepted offer in compromise.
IRS uses the Accuriant search engine, Google in a variety of 0.there 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 consultations release your federal tax lien.
Below you consultations find out what you need to know about the offer in compromise program.
The IRS consultations return any newly filed Offer in Compromise application where the taxpayer has not filed all required tax returns. The internal revenue service consultations immediately reject your offer in compromise. Any fees included with the OIC consultations also be returned.
This new policy does not apply to current year tax returns if there is a valid extension on file.
• Ability to pay;
• Expenses; and
• Asset equity.
IRS generally approves an offer in compromise when the amount offered represents the most they 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 tax debt on back IRS taxes.
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 consultations 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 consultations 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 consultations 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 consultations 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.