Tax Professionals | IRS Settlement | Tax Attorneys | San Diego
Updated: Feb 12, 2020
IRS SETTLEMENT - TAX ATTORNEYS - SAN DIEGO TAX PROFESSIONALS
IRS Settlement: Let's say in early 2017 you spend your savings account to turn your basement into a home theater. Then in mid-summer your world starts to turn upside down. You get laid off. Your child needs and emergency operation and you no longer have health insurance.
A few months later you receive a letter stating that the way the IRS has calculated your income tax, you actually owe the government $34,000 for the previous year. You are out of work. You have no cash and desperately need IRS tax relief. You send the IRS a check for a few hundred bucks hoping the IRS will interpret this as a "good faith effort."
Later, you find a job at half the salary and are barely able to cover your mortgage payments. To make ends meet during the period you were unemployed, you maxed out your credit cards. Collection agencies are hounding you. The IRS repeatedly reminds you of the obvious: you owe the government a bunch of money from the year before and interest charges are being assessed.
YOU ARE IN NEED OF AFFORDABLE IRS TAX HELP
You have needed as much money as possible in order to throw an occasional check at your creditors, you didn't have enough tax withheld from your paychecks last year. As a result, your tax preparer informs you that you owe an additional $9,000 in federal income tax. You are so far in the hole you can't afford to include a check when you file your return.
The IRS collection notices keep coming. Since you don't know what to do, you take the "ostrich" approach and stick your head in the sand. You stop opening the IRS notices. You're a nervous wreck. You're sure you'll show up for work one day and an IRS agent will be waiting for you.
YOU NEED IRS TAX HELP
One sleepless night you stumble downstairs, turn on your 60-inch plasma screen TV and (in surround sound) hear the answer to your prayers: "IRS settlement. Settle your back taxes for pennies on the dollar!"
The actor in the ad describes something an IRS tax relief program called an "Offer in Compromise," explaining that this allows you to wipe out your IRS tax bill by making an IRS settlement (#IRSsettlements) offer to the IRS of an amount that you feel are able and willing and able to pay. How civilized! The ad even includes a testimonial from "some actor" who was able to discharge (the legal term for "erase") $200,000 in taxes by paying just $2,000.
You may have heard about IRS tax relief through the Offer in Compromise program, but, never acted on it.
"Offers in Compromise" have been around for years. The IRS tax professionals at Flat Fee Tax Service, Inc. advise our potential clients that you must lack assets in relation to your IRS tax debt.
If you have no equity in your home, don't own any assets or investments, and are not likely to earn enough to ever pay back your IRS tax debt, the IRS will settle for a small amount of money just to save the cost of seizing whatever paltry assets you do own.
If you're upper middle class and have assets, the IRS will want a big chunk of your assets. It's not how much you owe, it's how much you can pay.This is determined, not by you, but by the IRS financial formula. An tax settlement through the Offer in Compromise program (#offerincompromise) is not a "haggle". The IRS has a very complicated financial formula that will determine your ability to pay your tax debt.
Don't think for a second that you get to pick a number out of the sky and submit this as your IRS tax relief settlement. There's a formula that determines how much you can theoretically afford to pay. You arrive at this amount by filling out two IRS worksheets — Form 656 and Form 433-A (businesses would use Form 433-B). These require you to list the value of your assets, including your home, as well as all of sources of income. Everything must be documented.
IRS TAX RELIEF - GET IRS HELP TODAY
THE TAX PROFESSIONALS AT FLAT FEE TAX SERVICE RECOMMENDS THAT YOU HAVE AN IRS TAX ATTORNEY REPRESENT YOU IN YOUR OFFER IN COMPROMISE.
The first stage of the Offer in Compromise has the IRS looking at your paper work for an error so that the IRS can send your IRS tax relief settlement back to you and pronounce your submission as "non-process-able". After the paperwork is submitted to the IRS and accepted, the fun begins.
Government examiners will review your
Don't assume that the late night tax company (WHAT THESE COMPANIES CHARGE) is going to help if you reach the negotiation stage. Read the fine print: it might say that their only obligation is to complete the original paperwork.
Here's the good news:
THE IRS TAX PROFESSIONALS AT FLAT FEE TAX SERVICE, INC. HAS A 96% IRS SETTLEMENT SUCCESS RATE.
Per the IRS 2016 statistics: the IRS approved 42% of all Offer in Compromise submissions in 2016.
WE LIKE OUR RECORD FOR SUCCESS.
YOU WILL AS WELL!
OUR TAX PROFESSIONALS WORK DIRECTLY WITH YOU TO START
THE BEGINNING TO THE END.
The number of IRS settlements via Offer in Compromise submissions has increased significantly in recent years (those infomercials are apparently quite effective). The IRS will receive approximately 80,000 IRS settlement submissions this year. If your paperwork is incomplete or if you don't meet specific deadlines, your offer will be rejected.
The latest IRS policy change regarding IRS tax relief has sent a shiver through the legal and accounting profession: anyone submitting an Offer in Compromise has to include a non-refundable partial payment for 20 percent of the amount they are offering as a settlement.
YOUR OFFER IN COMPROMISE SUBMISSION NEEDS TO BE DONE RIGHT, FROM THE OUTSET.
Most Offer in Compromise (#IRSsettlement) submissions by Flat Fee Tax Service, Inc. are lump sum settlements where the taxpayer agrees to settle up with the government in one or no more than five payments, usually within 90 days after agreement is reached with the IRS.