Friday, June 3, 2011

IRS PROBLEMS -- OFFER IN COMPROMISE -- Settle your Income Tax Liability

OFFER in COMPROMISE


Settle with the IRS

It is not surprising that some of us cannot pay our IRS tax debt.
I have previously written extensively about how an IRS settlement through the Offer in Compromise program has been hard to obtain. The IRS has expanded their Fresh Start Initiative and the new rules for an IRS settlement make it easier to obtain. Make no mistake, the IRS is not giving settlements away like candy. You still must qualify for an Offer in Compromise but the new Fresh Start Initiative expands the taxpayer base that is eligible and also reduces the amount that you need to pay back.

DO NOT ATTEMPT TO SETTLE WITH THE IRS

ON YOUR OWN

One huge reason is because individual taxpayers try but often times complete the Offer in Compromise themselves and complete the Offer incorrectly. We do not recommend that you do your own Offer in Compromise because you do not know the IRS comprehensive formula. You are also a novice and inexperienced at completing the Offer in Compromise process. If you "get the paperwork right," you probably will either offer to settle for too much or not enough.

The IRS will always be looking to return your settlement Offer to you as un-processable throughout the process. If you leave out a document you will be rejected. If you miss doting an "i" or miss crossing a "t" you will be rejected. If your Offer in Compromise is not "right on the money," your settlement offer will be rejected.

An Offer in Compromise is not a negotiation like settling with a bank or credit card company.

NOT EVERYONE IS QUALIFIED AND ELIGIBLE




There are many unscrupulous pseudo professionals / promoters out there who are willing to lie to you and make you think you are qualified and  eligible for an IRS settlement when you clearly are not. These so-called tax professionals clutter the landscape and make it difficult for taxpayers to know what to do. These promoters are more interested in increasing their "sales" volumes than in providing quality tax relief work.

WHAT DOES THE IRS CONSIDER

in a

OFFER in COMPROMISE

The IRS considers your income, your assets, your allowable expenses and you future earnings. The Statute of Limitations also plays a part in the Offer process as well as many other factors.

THE IRS HAS EASED UP ON 

OFFER in COMPROMISE

ACCEPTANCE

IRS FRESH START INITIATIVE

It is still difficult to have an Offer in Compromise (OIC) accepted, but because of the bad economy IRS collection agents are now encouraging delinquent taxpayers to file them.

This is important. It means government officials higher in the chain of command want the public to know that the IRS is willing to accept an Offer in Compromise (OIC) that the IRS would not have been willing to accept were the economy thriving.
An IRS settlement through the Offer in Compromise program (OIC) is supposed to be good for the Government and the taxpayer. The taxpayer gets tax relief from a tax liability he will never be able to satisfy and the IRS saves the time and expense of futilely pursuing enforced collection.

A well prepared Offer in Compromise will convince the government that it is in its best interest to accept the offer you are making. The terms of your offer as well as the amount offered will be "right on the money." 
The size of the Federal debt along with the growing costs of the wars in Afghanistan and Iraq has resulted in White House pressure on the IRS to collect as much as possible in back taxes as quickly as it can. That is the reason we have been seeing so many wage garnishments (tax levy).

The best way for the IRS to handle their increased case load due to the dire economy is to encourage taxpayers who owe back taxes to offer lump-sum settlements (or short-term payoffs) of their liabilities.
You should speak to a tax lawyer or tax CPA if you are indebted to the IRS and don’t believe you will ever be able to repay that debt.  Before you call someone, though, you should be able to answer “yes” to the following questions:
  1. Do you have little or no equity (the fair market value of the asset less encumbrances) in your assets? Assets includes Real Estate, IRAs, 401k plans and other retirement accounts.
  2. Do you have little or no income left over at the end of the month after you pay your current taxes and your necessary living expenses?  
GET A FRESH START

Take Advantage of the

Offer in Compromise Program


Implement a “screen” to protect low income Social Security recipients from continuous, automated tax levies. Under the Federal Payment Levy Program (FPLP), the IRS is authorized to “levy” (or withhold) 15% of any federal payment made to a delinquent taxpayer. Using this authority, the IRS levied against 1.8 million payments to Social Security recipients in 2008. TAS estimates that more than 25% of these taxpayers had incomes below the poverty level and more than one-third would likely be classified by the IRS as unable to pay if their cases were subject to human review. However, the automated levy system does not use built-in screens to identify and shield these taxpayers. report contains a research study recommending the implementation of such a screen.
Rare Opportunity for Delinquent and 

Non-Compliant Taxpayers
Now is the Time To Make a Deal with the IRS
If you owe money for tax debt / tax liability or think you owe money to the IRS or if you have not filed your federal income tax returns, NOW is the time to come forward because you are likely to get favorable terms of repayment or settlement of your IRS debts. 
Call an experienced Tax CPA or Lawyer and get started before the window of IRS compassion closes.

THIS OPPORTUNITY

WILL NOT

LAST

FOREVER


I am Dave Rosa, the V.P. of Client Relations at Flat Fee Tax Service, Inc. I will be conducting our consultation with you. It is my duty to you and to Flat Fee Tax Service, Inc. to provide you with an honest and straightforward evaluation of your IRS problems. All of our clients are experiencing financial hardship. Every one of our clients has financial difficulties. It is our job to resolve your tax problems and get you a fresh start. We do not employ salesmen. If we accept your case, it is because we know that we can benefit you and have you receive the fresh start that you deserve. We, at Flat Fee Tax Service, Inc. make every effort possible to keep our fees as low and affordable as we can so that we may pass on those savings to our clients.

WHY FLAT FEE TAX RELIEF FOR YOUR IRS PROBLEMS
• Guided by Our Christian Values
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• Experienced IRS Tax Attorneys
• No Salesman - No Pressure - No Complaints

FLAT FEE TAX RELIEF IRS SETTLEMENT FEES ARE:
• Fixed with no hidden charges
• Payable in monthly installments
• Low initial payment to begin immediate work
• Always competitive and affordable 

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1 comment:

  1. If you are struggling with everyday expense and have a tax debt that is owed to the IRS, you need to seriously consider settling with the IRS through the Offer in Compromise program.

    ReplyDelete