Friday, May 25, 2012

IRS News -- The IRS Makes Terms for Offer in Compromise More Flexible -- The Fresh Start IRS Program on 5/22/12

IRS ANNOUNCES TERMS FOR

OFFER in COMPROMISE

MORE FLEXIBLE

On may 22, 2012, the IRS has announced that the IRS will make the terms on which they will accept IRS settlements through the Offer in Compromise program more flexible. The new changes to to the Offer in Compromise program are part of the IRS' Fresh Start program and are designed to help financially struggling taxpayers clear up their back tax debt problems more quickly.

THAT IS 



IF YOUR ARE A 

STRUGGLING TAXPAYER

WHAT ARE YOU WAITING FOR?





The new changes to the Offer in Compromise program affect the financial analysis used to determine if a financially struggling taxpayer is eligible to settle with the IRS through the Offer in compromise program. In calculating a taxpayer's "reasonable collection potential," the IRS will now look at only one (1) year of future income for settlement offers paid in five (5) or fewer months (down from four (4) years). the IRS will now look at two (2) years of furure income for settlement offers paid in six (6) to twenty-four (24) months (down from 5 years). Under these new guidelines, every Offer in Compromise must be paid in twenty-four (24) months of the date the settlement offer is accepted.

DOUG SHULMAN

the IRS COMMISSIONER

said:

"This phase of Fresh Start will assist some taxpayers who have financial hardship in recent years. It is part of our (the IRS) multi-year effort to help struggling taxpayers who are struggling to make ends meet."

ANNOUNCED CHANGES

to

THE IRS FRESH START

OFFER in COMPROMISE PROGRAM 

The Changes Include:
  1. Revising the calculation for the taxpayer's future income.
  2. Allowing taxpayers to repay their student loans.
  3. Allowing taxpayers to pay state and local delinquent tax debt.
  4. Expanding the Allowable Living Expense allowance category and amount.
WHAT IS AN 

OFFER in COMPROMISE

In genearl terms, an Offer in Compromise between a taxpayer, who is financially struggling, and the IRS that settles that taxpayer's liabilities for less than the full amount owed in back tax debt. An Offer in Compromise (a/k/a OIC) is generally not accepted if the IRS believes the taxpayer's liability can be paid in a lump sum or in an installment agreement (payment plan). The IRS will look a taxpayer's income and assets (along with other criteria) to make a determination of the taxpayer's reasonable collection potential. An Offer in Compromise is subject to legal requirements.

DO YOU HAVE BACK TAX DEBT?

ARE YOU STRUGGLING?

WHAT ARE YOU WAITING FOR?

Due to the economic times that we live in and the sheer volume of struggling taxpayers, the IRS has been forced to recognize that taxpayers are still struggling mightily to pay their bills. The IRS has been forced to implement some "common sense" changes to the Offer in Compromise program that reflect real world sensibilities. 

OTHER CHANGES

to

An OFFER in COMPROMISE

ALLOWABLE LIVING EXPENSES:

The Allowable Living Expenses are used in cases requiring financial analysis to determine a taxpayer's ability to pay their tax liability. The "standard allowances" provides, according to the IRS, fairness and consistency in collection evaluations by incorporating average expenditures for basic necessities for taxpayers in similar geographic areas. These standards are used when the IRS evaluates an Installment Agreement, Currently not Collectible status or an Offer in Compromise petition.

The National Standard miscellaneous allowance has been expanded to include additional items such as: credit card payments, bank fees and charges. Guidance has also been clarified to taxpayer payments for student loans. Student loans would be loans guaranteed by the federal government for post high school education. In addition, taxpayer payments for state and local taxes may be allowed on a percentage basis of tax owed to the state and IRS.

If you have been following our informative blog, you will have seen that the IRS has been forced to make changes to their collection practices due to the economic downturn. These changes in policy include tax relief for struggling taxpayers who are trying to refinance or sell a home. The IRS has been more flexible with taxpayers who are facing payment and collection problems in 2009. In 2011, the IRS made changes to tax lien policy as well as expanded the threshold for small businesses to resolve tax problems through Install agreements (payment plans). The IRS has also "Streamlined" both Installment Agreements as well as the Offer in Compromise program.

THE IRS IS NOT WARMER AND FUZZIER

Although the rules that the IRS must follow have changed does not mean that the IRS has been "de-fanged." What it means is this: a struggling taxpayer has options and rights available to them that can see that their delinquent tax debt gets resolved fairly. A taxpayer still has to maneuver through a myriad of red tape. The IRS will continually try and reject your claim for settlement. 

DO YOU WANT TO

SETTLE WITH THE IRS?

IF YOU DO,

GET

EXPERIENCED IRS TAX RELIEF HELP


I am Dave Rosa, the V.P. of Client Relations at Flat Fee Tax Service, Inc. and I am happy to report to both our present clients and potential clients that the IRS has put in place new rules that allow a struggling taxpayer to have their tax liability settled for a fraction of the original amount due. The IRS will continue to make it difficult for the novice and naive taxpayer who tries to maneuver through the complicated Offer in Compromise program. The IRS will will try and reject your settlement offer throughout the settlement process. That is why it is imperative that a taxpayer have an experienced IRS tax relief team that will prepare all of the necessary documents as well as guide the taxpayer through the entire Offer in Compromise negotiation.

CALL ME AND SEE IF YOU QUALIFY:

1 - 8 0 0 - 5 8 9 - 3  0 7 8

EMAIL ME:

dave@flatfeetaxservice.com


AFFORDABLE IRS OFFER IN COMPROMISE


 Fresh Start Offer in Compromise Help

If you owe the IRS between $10K and $100K; pay only $2050 for your IRS fresh start program which includes: Prepare 3 tax returns, Release of an IRS Levy / Stopping an IRS Wage Garnishment and an IRS Settlement through the Fresh Start IRS Offer in Compromise Program.

FLAT FEE TAX SERVICE, INC.

OFFERS CREDIT TERMS TO EVERY TAXPAYER

WHY FLAT FEE TAX SERVICE, INC. FOR YOUR FRESH START OFFER IN COMPROMISE: 
  • Our Work Ethics are Guided by our Christian Values
  • An A Plus Rating with the Better Business Bureau
  • Affordable IRS Tax Help
  • Monthly Credit terms for Client
  • Experienced IRS Tax Attorney who Work with the Enforcement Division of the IRS Daily
  • Reliable, Credible and Thorough
  • Positive Results


THE FLAT FEE TAX SERVICE, INC.

IRS FRESH START HELP - LINE:

1 - 8 0 0 - 5 8 9 - 3 0 7 8

FEES POSTED ON OUR WEBSITE:



JOIN OUR FRIENDS AND CLIENTS BY

LIKE US ON FACEBOOK:





1 comment:

  1. The IRS has eased the eligibility and qualifications for an IRS settlement through the Fresh Start offer in Compromise program. Call Flat fee tax Service, Inc. and see if you can settle with the IRS for less. Our Website is: http://www.flatfeetaxservice.com and our informative blog is: http://www.affordableirshelp.com and daily updates can be viewed by following us on Twitter: http://www.twitter.com/flatfeetaxsvc

    ReplyDelete

Note: Only a member of this blog may post a comment.