Here’s the truth about the best IRS Tax Relief programs from former IRS agents and true tax relief specialists.
There are many excellent tax relief programs available so you need to make sure you can fit yourself into the right one.
The best way to find out the best actually program is to speak to true IRS tax experts, former IRS agents who know the system and know how to resolve IRS tax problems.
RS uses a very specific methodology for tax relief programs in its mainly based off of your current financial statement.
Your current financial statement will dictate how IRS will work your case how fast they will close your case and the expectations that they will have enclosing your case.
It is important for the average taxpayer to understand the process before contacting the Internal Revenue Service and more importantly not to have expectations. a true task can professional can prepare the way to make this an easier process so you can get the very best result possible for the different tax relief programs.
Many things that you hear on TV, the social media and other methods sometimes are not the results you’re going to get. Many taxpayers are surprised by the available programs and must understand the best way to get results is to understand the internal revenue system..
Since 1982 we have been resolving IRS tax issues and we have an amazing history of successful client work and satisfied customers and that is due to the experience we have in dealing with IRS tax problems and tax issues and IRS tax relief.
On staff are former IRS agents, managers and teaching instructors who were supervisors and managers while working at the Internal Revenue Service.
As a result of all of our work experience, we understand the methodologies and all the procedures to close IRS cases in the most prudent and affordable manner.
Upon your initial consultation in almost all cases we will let you know how your tax case will resolve itself and exactly how much it will cost you.
Each case has its own unique set of circumstances so we will customize a specific plan of action based on your set of circumstances and financial matters. There are no two cases alike.
You will never have to speak to Internal Revenue Service we will handle all communication with you to you and with the Internal Revenue Service.
The most popular program is the IRS offer in compromise because it settles your debt for pennies on the dollar but you must be sure you qualify for this type of settlement or you will waste your money. People such as you have given thousands of dollars to companies promising the settlements but there are qualifiers that the taxpayer must be aware of before they throw their money at somebody.
Offers in Compromise, the OIC, The Fresh Start initiative
We have over 60 years of direct work experience in the local, district, and regional tax offices of the Internal Revenue Service. We are true IRS experts who understand the IRS collection system.
All our work is done in-house and we are used by other firms to do their backend work.
You can call us today for free initial tax consultation and find out if you are a true offer in compromise tax debt settlement candidate.
Due to the IRS new fresh start initiative set out by the Internal Revenue Service many more taxpayers are eligible for the tax debt settlement.
Before a taxpayer or client thinks about the filing of an offer in compromise they should check out the IRS offer in compromise pre-qualifier tool first.
You can walk to the pre-qualifier tool on our site or call us today to learn more about it.
We will not file an offer in compromise or accept any fee for any client unless we know they are qualified for the program.
So if we send in your offer in compromise, you probably do have a pretty good chance of getting it accepted.
It is important to know you will that all back tax returns will have to be filed, up-to-date and current on the IRS computer system before the Internal Revenue Service will accept an offer in compromise.
IRS Tax Statistics for the OIC
Last year there were 78,000 offers in compromise were filed with the Internal Revenue Service, 38% of those were accepted for an average of $6500 per case.Keep in mind this is a national average and varies from case to case is completely dependent on your current financial statement.Also keep in mind your offer may be worked by any person throughout the United States.
About 20% of all offers in compromise go to the Appellate Division for settlement.
You should know that not everyone is an offer in compromise candidate to settle their tax debt.
There are many companies out there today advertising pennies on the dollar and if you are not a true qualified candidate you should not be giving your money to any firm. The advice I give everyone is to speak to the person who is working your case and let them explain why you are a qualified candidate for the offer in compromise.
Make sure you are eligible for the OIC.
Remember not everyone is eligible for the offer and compromise, you must be a qualified candidate. IRS has a pre-qualifier tool or we can walk you through the process of eligibility.
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.
Submitting your offer or OIC to the Internal Revenue Service.
You’ll find step-by-step instructions and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B (PDF).
Your completed offer package will 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.
Keep in mind if your offer in compromise is not complete with the documentation IRS requires it will return the offer in compromise to you.
Selecting a payment option for the offer in compromise program
Your initial payment will vary based on your offer and the payment option you choose:
• IRS 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.
• IRS 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, you must continue to pay monthly until it is paid in full.
While your offer in compromise is being evaluated:
• Your non-refundable payments and fees will 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.
Other : IRS tax relief programs
Many taxpayers for a variety of reasons cannot qualify for an offer in compromise and IRS has four other buckets of ways they close cases once they were open in the IRS collection.
They are as followed:
Hardship, payment agreement, statute of expiration, bankruptcy.
1. For those who are financially strapped and qualify, IRS has a currently non-collectible program in which taxpayers who qualify IRS will temporarily suspend their case between one and three years and then kick the case out later and re-review the financial statement.
Approximately 40% of all people who are in the current IRS collection Q wind up in a temporarily non-collectible file.
2. While other people based on their current financial statement can make a payment arrangement with the Internal Revenue Service. Approximately 6.5 billion people wind up in payment agreements because of their current financial statement. The Internal Revenue Service will use the national standard test to make sure the agreement is fair and reasonable.
3. Others qualify because the statute of limitation has expired on their tax assessments. As a general rule IRS has approximately 10 years to collect all cases. we can pull IRS tax transcripts to find out how close you are to having your statute of limitations expired.
4. While others can file Chapter 7 bankruptcy proceeding. We were review with you each of the criteria when you call us.
Tax Return Note:
As a side note, taxpayers should be aware that all tax returns must be filed before they can have an approved offer in compromise. Before IRS will work an offer in compromise to settle your tax debt they will want all tax returns filed and they will want to make sure you are current on your ES payments or your withholding in the current year we are in.
If you submitted an offer in compromise and IRS finds your tax returns are not file they will return the offer to you.
We could prepare all back returns for you with little or no records.Please keep in mind that IRS can file your tax returns under 6020 B of the Internal Revenue Code.
The Internal Revenue Service keeps records for six years of all income source documents which means IRS has all your W-2s and 1099s. I
IRS will conduct a full compliance check anytime they work in open IRS collection case. As former IRS agents we know the system and understand all the protocols to get you the very best result possible.
Without question we are one of the best IRS debt tax relief services company in the United States. Since 1982 we have worked thousands of taxpayer clients and are above reproach.
When you are considering one of the best tax relief companies call Michael D. Sullivan, Former IRS Agent, since 1982 we have been serving the Americas in resolving IRS tax debt.
We can review all IRS tax programs and have tax attorneys, CPAs and former IRS agents on staff to serve your needs.
Our founder has been on FOX Business news as well as NBC.
Mr. Sullivan is also contributed to Bloomberg news as well as the Wall Street Journal. Mr. Sullivan teaches Bible study every Tuesday night. Please feel free to ask him about his faith.
If you want to find out the best tax relief programs call former IRS agents who know the system we know the way to resolve IRS tax problems.