Monday, May 2, 2011

San Antonio Texas Man Settles with the IRS -- Offer in Compromise Results

FLAT FEE TAX HELP
GETS
SAN ANTONIO
Man
IRS SETTLEMENT

The Tax Attorneys at Flat Fee Tax Service, Inc. provided the Tax Resolution help in order for Tony L. of San Antonio, Texas receive an IRS settlement of $1200.00 on $51,000.00 of back tax debt.

Tony L. had been laid off in 2009 and had financial problems. Tony L. was facing $51,000.00 in tax liabilities owed to the IRS. He had found a new job and was facing an IRS Wage Levy. The Tax Attorneys at Flat Fee Tax Help listened to his problem and decided to take his case. Tony L. took our advice and followed our instructions. 

Through our thoughtful, diligent and experienced Tax Attorneys, Flat Fee Tax Service, Inc. was able to get Tony L. of San Antonio, Texas an IRS settlement of $1200.00 on a tax debt of $51,000.00.

We do not pretend that everyone will receive the same results as Tony L. of San Antonio. Every case is different but the common element that all of our clients at Flat Fee Tax Service, Inc. is that they have all been suffering with an IRS debt and need tax help.



CAN YOU QUALIFY
ARE YOU ELIGIBLE
FOR AN
IRS SETTLEMENT
LIKE
TONY L.


An Offer in Compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the full amount owed. Absent special circumstances, an Offer in Compromise will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through an Installment Agreement or payment plan.

The Offer in Compromise Formula:

In most cases, the IRS will not accept an Offer in Compromise (OIC) unless the amount offered by you, the 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 and includes the value that can be realized from the taxpayer’s assets, such as real property, automobiles, bank accounts, and other property. The RCP also includes anticipated future income, less certain amounts allowed for basic living expenses.

What Does That Mean to You?

The IRS has a complicated formula that takes into account the following:

  1. Cost of rent or mortgage up to a certain amount and based on where you live.
  2. Food and clothing for you and your dependents.
  3. Transportation expenses.
  4. Health insurance.
  5. Term life insurance.
  6. Court ordered payments.
  7. Your age.
  8. Your potential future earnings.
  9. Assets (bank accounts, brokerage accounts, value of owned automobiles, retirement accounts, etc.)
These are some of the factors involved in the decision making. There are more. 

There are 3 types of Offer in Compromise

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.

YOU DON'T HAVE THE MONEY TO PAY

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.

Effective Tax Administration - There is no doubt that your back 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 Offer in Compromise (OIC). To be eligible for Offer in Compromise on this basis, a taxpayer must demonstrate that the collection of your tax liability would create an economic hardship or would be unfair and inequitable.

YOU DO NOT HAVE TO PAY YOUR

OFFER in COMPROMISE

IN A

LUMP SUM



In general, a taxpayer must submit a $150 application fee and initial payment along with the Form 656, Offer in Compromise.  Taxpayers may choose to pay their offer in compromise in one of three payment options:

1. Lump Sum Cash Offer - Payable in non-refundable installments, your Offer in Compromise amount must be paid in five or fewer installments upon written notice of acceptance.  A non-refundable payment of 20 percent of the offer amount along with the $150 application fee is due upon filing the Form 656. 

If your Offer in Compromise will be paid in 5 or fewer installments in 5 months or less, the offer amount must include the realizable value of assets plus the amount that could be collected over 48 months of payments or the time remaining on the statute, whichever is less.

If the offer will be paid in 5 or fewer installments in more than 5 months and within 24 months, the offer amount must include the realizable value of assets plus the amount that could be collected over 60 months of payments, or the time remaining on the statute, whichever is less.

If the offer will be paid in 5 or fewer installments in more than 24 months, the offer amount must include the realizable value of assets plus the amount that could be collected over the time remaining on the statute.

2. Short Term Periodic Payment Offer - Payable in non-refundable installments; your Offer in Compromise amount must be paid within 24 months of the date the IRS received your settlement offer. The first payment and the $150 application fee are due upon filing the Form 656. Regular payments must be made during your Offer in Compromise investigation.

Your settlement offer amount must include the realizable value of assets plus the total amount the IRS could collect over 60 months of payments or the remainder of the statutory period for collection, whichever is less.

3. Deferred Periodic Payment Offer - Payable in non-refundable installments; your Offer in Compromise amount must be paid over the remaining statutory period for collecting the tax. The first payment and the $150 application fee are due upon filing the Form 656. Regular payments must be made during the investigation.

Your settlement offer amount must include the realizable value of assets plus the total amount the IRS could collect through monthly payments during the remaining life of the statutory period for collection.

The IRS is not bound by either your offer amount or your terms. The OIC investigator may negotiate a different offer amount and terms, when appropriate. Your investigator may determine that your proposed settlement offer amount is too low or the payment terms are too protracted to recommend acceptance. In this situation, the OIC investigator may advise you, the taxpayer, as to what larger amount or different terms would likely be recommended for acceptance.

THE IRS WILL TRY TO FIND

ANY REASON

TO REJECT YOUR

SETTLEMENT OFFER



If your IRS Offer in Compromise is missing documents, forms or information, the IRS can (and the IRS will ) return your paperwork to you as un-processable, and the IRS can (and the IRS will) then proceed with an IRS Wage Garnishment or IRS Wage Levy of your wages / paycheck / Social Security / property. In other words, the IRS will try to discourage and confuse you.

You need to be sure to "dot all the i's" and "cross all of the t's." Don't forget, the IRS is not looking to help you. It is your responsibility to present a Offer in Compromise that is done correctly and accurately. If you don't, the IRS will dismiss your Offer in Compromise and you will have to start all over again.

HAPPY DAYS ARE HERE
THE IRS
MAKES
THE OFFER in COMPROMISE
PROGRAM 
EASIER

This is what the IRS Commissioner announced:

“I’ve made a whole set of changes to the Offer in Compromise (OIC) program since I’ve been here to try to increase the participation rate, increase the acceptance rate, because it’s good for the tax system,” Doug Shulman, the IRS Commissioner said.



“These changes to the Offer in Compromise program will help give taxpayers a fresh start,” said Doug Shulman, the IRS commissioner, in a conference call with reporters. These changes “are especially appropriate as the American people and small businesses are climbing out of the worst recession in a generation.”

“There are a variety of things, all aimed at increasing acceptance rates for an Offer in Compromise, making it a user-friendly thing to apply for,” Shulman said. 

THE IRS WANTS TO INCREASE
SETTLEMENT ACCEPTANCE 
YOU CAN BE LIKE 
TONY L.
of
SAN ANTONIO

WHY CHOOSE FLAT FEE TAX SERVICE, INC. FOR YOUR OFFER in COMPROMISE
• Experienced Tax Attorneys
• Lower fees - higher value
• Better Business Bureau Accredited - A PLUS Rating
• No Salesman - No Pressure

FLAT FEE TAX SERVICE, INC. FEES ARE:
• Fixed with no hidden charges
• Payable in monthly installments
• Low initial payment to begin work
• Always competitive and affordable




Flat Fee Tax Relief 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.

Flat Fee Tax Service, Inc. -- Offer in Compromise - $2050.00 
If you owe the IRS between $10,000.00 and $100,000.00;:

1. Stop the IRS -- IRS Wage Levy -- IRS Garnishment Release and
2. IRS Settlement - Offer in Compromise,
3. Prepare 3 tax returns,
3. $250.00 initial retainer & 9 monthly payments of $200.00 ($2050.00 total)

YOU CAN GET YOUR LIFE BACK
YOU CAN HAVE A 
FRESH START

If you qualify for an IRS Settlement through the IRS Offer in Compromise (OIC) program, you can "get your life back", you can save thousands of dollars in taxes, penalties and interest. Taxpayers can have IRS Tax Debt on all types of taxes, including most payroll taxes, penalties, and interest. It is the closest thing to amnesty that the federal government offers in connection with back tax debt.

FLAT FEE TAX SERVICE - Good people - Doing Great Work

FLAT FEE TAX SERVICE - Christian Values



The Flat Fee Tax Relief 

Offer in Compromise Help - Line:

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1 comment:

  1. Flat Fee Tax Service obtained an IRS settlement for a San Antonio resident. Find out what the accepted Offer was. You may be eleigible to settle your back tax debt.

    ReplyDelete