An IRS Settlement through the IRS Offer in Compromise (OIC) program was established by the U.S. Congress to help taxpayers who have experienced significant financial problems to get a fresh start.
IRS back tax debt, penalties and the interest on the penalties can be settled. All federal tax liens can be released once the IRS accepts a settlement through the IRS Offer in Compromise program and the negotiated settlement amount is paid.
Flat Fee Tax Service will walk you through an in-depth interview to evaluate your eligibility for an IRS Settlement through the IRS Offer in Compromise program.
Your IRS Settlement Help-line:
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- You can save thousands of dollars in back tax debt, tax liabilities, penalties and interest.
- Taxpayers can negotiate an IRS settlement on all types of back tax debt, including most payroll taxes, penalties as well as the interest on the penalties.
- It is the closest thing to amnesty that the federal government offers in connection with back tax debt.
The IRS Offer in Compromise process is a very complicated drawn out process that can take upwards of nine months to a year and. sometimes, even longer. The IRS will continually look for reasons to reject your Offer. There are guidelines, rules and protocols established by operation of law, under IRC Section 7122. However, most IRS Offer in Compromise Examiners (former Revenue Officers) will use the IRS Manual (IRM) as their guide.
Only one of three conditions must be met to qualify a taxpayer for IRS Debt Relief consideration of an IRS Offer in Compromise (OIC) Tax Settlement:
• Doubt as to Collectability — you must prove to the IRS that your back tax debt is likely uncollectible in full under any circumstances. Doubt exists that you, the taxpayer, could ever pay the full amount of your tax liability owed within the remainder of the statutory period for collection.
• Doubt as to Liability — you can show reason for doubt that the assessed tax liability is correct. A legitimate doubt exists that the assessed tax liability is correct. Possible reasons to submit a doubt as to liability IRS Offer in Compromise include: (1) the IRS examiner made a mistake interpreting the law, (2) the IRS examiner failed to consider the taxpayer’s evidence or (3) the taxpayer has new evidence.
• Effective Tax Administration — you do not contest your IRS tax liability or collectability but can demonstrate extenuating or special circumstances that the collection of your IRS Tax Debt would "create an economic hardship or would be unfair and inequitable." This form of IRS Offer in Compromise (OIC) program is available for you, the taxpayer, but is primarily used by individuals that are elderly and receiving Social Security or may be disabled and receiving Social Security Disability (SSDI) benefits, or may have special extenuating circumstances.
Federal Tax Offer in Compromise Regulation:
1. The IRS will not execute an IRS Levy (wages, paycheck, Social Security or bank) against the property or rights to property of a taxpayer who submits an Offer in Compromise (OIC).
2. The IRS will not collect the tax liability that is the subject of the Offer in Compromise (OIC) during the period the IRS Settlement is pending.
3. The IRS will not proceed with collections for 30 days immediately following the rejection of the Offer in Compromise (OIC), and for any period when a timely filed appeal from the rejection is being considered by Appeals.
Once the IRS decides that your IRS Settlement via the Offer in Compromise program (OIC) is processable for IRS tax relief and that the Offer in Compromise includes all the paperwork and forms properly filled out, the IRS must stop all IRS Levy actions (wage, bank, etc.) under Section 6331.
If your IRS Offer in Compromise is missing documents, forms or information, the IRS will return the paperwork to you as un-processable, and the IRS will then proceed with an IRS Tax Levy or IRS Wage Levy on your wages, paycheck, Social Security, Social Security Disability (SSDI) or property.
Paying Your IRS Offer in Compromise - In general, a taxpayer must submit a $150.00 application fee and initial payment along with the Form 656, Offer in Compromise. Taxpayers may chose to pay their IRS Offer in Compromise in one of three payment options:
1. Lump Sum Cash Offer.
2. Short Term Periodic Payment Offer.
3. Deferred Periodic Payment Offer.
Low Income Exemption and Guidelines: The application fee for the IRS Offer in Compromise is waived if your (not a corporation, partnership or other entity) income falls at or below IRS Low Income Guidelines. Qualifying taxpayers are also exempt from making any IRS Settlement payments while you IRS Offer in Compromise is being investigated.
Five Year Compliance: If your IRS Offer in Compromise is accepted and you receive an IRS settlement, you must timely file all tax returns and timely pay your tax liability for five years or until the settlement amount is paid in full, whichever period is longer. Failure to adhere to these terms will result in default of your IRS Offer in Compromise and the IRS may then collect the amounts originally owed plus penalties and interest on those penalties.
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• Experienced Tax Attorneys
• Lower fees - higher value
• Integrity, credibility, personal service & results
• No Salesman - No Pressure
FLAT FEE TAX RELIEF IRS SETTLEMENT FEES ARE:
• Fixed with no hidden charges
• Payable in monthly installments
• Low initial payment to begin work
• Always competitive and affordable
Flat Fee Tax Service, Inc. keeps our fees low, fair and reasonable because we do not employ sales people who will take 20 to 25% of your precious retainer fees. Flat Fee Tax Relief also does not spend money on expensive television ads. Most of our new clients are referred to us by our very satisfied clients.
2. IRS Settlement - Offer in Compromise and,
3. $290.00 initial retainer & 10 monthly payments of $170.00 ($1990.00 total)
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