What is the IRS Debt Forgiveness Program? | Flat Fee Tax Service | San Diego
Updated: Jun 11
IRS Tax Forgiveness Program IRS TAX DEBT RELIEF
Even the IRS understands life and "stuff happens". That’s why the federal government (and some states) offers IRS debt forgiveness when you can’t afford to pay a tax debt that you may have accrued.
Under certain circumstances, taxpayers can have their tax debt dramatically forgiven. When the IRS considers forgiving your tax liability and settling your tax debt, they look at your current financial condition first. This means the IRS can’t collect more than you can reasonably pay. If any collection and enforcement action would force you into a financial crisis, the IRS can’t collect the back taxes. How to Pay Less Than You Owe the IRS with an
Offer in Compromise.
If you only have the resources to pay a partial amount of your tax debt, you probably qualify for the ultimate and optimum tax debt relief program. You can apply for the IRS government payment plan called an Offer in Compromise (#IRSsettlementagreement) to resolve the remaining amount. Depending on your financial capacity and upon acceptance, the IRS significantly reduces the total debt that you can pay. This reduced amount can be paid in a lump sum or in fixed monthly installments. MANY OF OUR CLIENTS, AT FLAT FEE TAX SERVICE, INC. HAVE PAID BETWEEN $100 AND $500 AS THE TOTAL SETTLEMENT OF THEIR IRS TAX DEBT. Q: What is an Offer in Compromise?
An Offer in Compromise is an IRS settlement agreement between you and the IRS that allows you to settle your tax debt for far less than you owe. Not every citizen is "eligible and qualified" for IRS tax debt relief through an Offer in Compromise. FLAT FEE TAX SERVICE, INC. CLIENTS HAVE A 96% IRS SETTLEMENT RATE OF SUCCESS. PER 2016 IRS STATISTICS, THE IRS APPROVED APPROX. 42% OF THE 80,000 OFFER IN COMPROMISE SUBMISSIONS. If you qualify, an IRS Offer in Compromise is the absolute ultimate and optimum IRS tax relief program you could ask for. This tax settlement can be the fresh start that you have been waiting for.
Should your tax settlement agreement be approved, you will be expected to pay a reduced amount within a certain time frame, and failure to do so can result in termination of your agreement. Failure to meet your tax settlement agreement will have the IRS reinstating your tax debt (with penalties) and you will be forced you to start over. A WORD TO THE WISE: HAVE AN IRS TAX ATTORNEY REPRESENT YOU FOR THE VERY BEST RESULTS. Q: Why should I turn to an IRS tax relief firm (like Flat Fee Tax Service, Inc.) to seek IRS tax debt forgiveness like an IRS Offer in Compromise? When you call our tax relief team for your free and confidential consultation, tax debt resolution professionals will help weigh your tax relief options with the IRS and potentially help you join the ranks of our clients with Offer in Compromise success stories. Flat Fee Tax Service, Inc. does not employ salesmen. No IRS tax relief firm combines our level of success with our very affordable tax relief fees. Our IRS Tax Attorneys will be able to do more than just offer you IRS Offer in Compromise tips; we’ll be able to fully review your situation and see if an Offer in Compromise (#OfferinCompromise) is right choice for you. No one here is going to give anyone the "razzle dazzle". We "give it to you straight". It's much easier to be honest than not. Even if we conclude during our initial consultation that you aren’t a viable candidate for an Offer in Compromise, there are other IRS resolution strategic options that may be more suitable to your situation. If we know from "the get go" that an Offer in Compromise will never fly, we can look at placing you into Currently not Collectible (#CurrentlynotCollectible) status, or reduce your tax debt with a Penalty Abatement. Our IRS Tax lawyers may determine that an Innocent Spouse filing is the right option. We could challenge the Substitute for Returns and replace them with real tax returns. You do this as long as our tax relief has and you find you have a lot of "tricks up our sleeve" to benefit you.
OUR IRS TAX ATTORNEYS FIGHT FOR OUR CLIENTS EVERYDAY. Q: How long does an Offer in Compromise take? You should expect an Offer and Compromise submission take between 10 and 12 months. Why is that? Well, the first part of the tax settlement process has your Offer in Compromise being sent to the IRS in Tennessee or New York. The job of the IRS agents at those two facilities is to see if your Offer and Compromise paperwork is done correctly. Miss a box to be filed in. It gets rejected. Miss sending some documents? Yep, it gets rejected. Don't sign everywhere that you need to? You guessed it. Your tax settlement will be sent back to you and it is labeled "unprocessible". The IRS will reinstate your tax debt and you have to start all over again. Meanwhile the IRS can start enforcement procedures again. The IRS has two years to review your situation to be sure that they have thoroughly researched your unique situation. If the IRS fails to complete the tax settlement in that time, your Offer in Compromise is automatically approved. During the OIC process, the IRS stops enforcement actions against you. Since the expiration date for your back taxes owed is 10 years from the date of assessment, the clock is paused for however long it takes for your request to be evaluated and a decision made.
What’s Next If You Owe Tax Debt?
Understanding your tax debt and dealing with the IRS isn’t easy to do alone, even with available programs like the Fresh Start Initiative (Offer in Compromise). FLAT FEE TAX SERVICE, INC. GOOD PEOPLE - DOING GREAT WORK