Corona-virus | Wuhan Virus | IRS Tax Debt | Flat Fee Tax Service | San Diego | California
Updated: May 4
CORONA VIRUS - WUHAN VIRUS - IRS TAX DEBT
Right now most of us are "hunkered down" at home wondering "what the heck is going on." You may have kids at home. You may have been laid off or lost your job. You may be wondering what you will be doing for money right now.
While we wait for Washington, D.C. to make up their minds how to get us back on our feet financially, taxpayers need to do some forward thinking. President Trump has announced that the filing date has been extended and that penalties have been waived. That's fine, but when our economy gets back on track you may have a tax debt that needs to be dealt with.There will be other financial matters you need to deal with.
You may have credit card debt that needs your attention. You may have car payments that need to be caught up as well. Our team at Flat Fee Tax Service would like you to be aware that an opportune time to settle your tax debt with the IRS could be right after we get through with this Wuhan Virus problem.
Presently, the IRS has been approving, each year, approximately 42% of the 80,000 Offer in Compromise submissions. We expect more than the usual amount of financially struggling taxpayers after we all get through this. We want as many citizens as possible to get their life right. An IRS settlement could be "just what the Doctor ordered."
Logically thinking this through, the IRS will still be tasked with collecting tax debt. That won't change. What will change is the volume of citizens with financial issues. The government will want to close cases. An Offer in Compromise will settle your tax debt and the IRS will close your file.
We believe that once this "made in China" virus is behind us, it may be the right time to submit an Offer in Compromise and settle a tax debt. Our team of tax professionals has been settling 96% of our Offer in Compromise submissions.
You should be thinking ahead so that you come out of this troubling time in the best financial position for you and your family.
FLAT FEE TAX RELIEF - FLAT FEE TAX SERVICE