Tax Professionals | IRS Settlement | Offer in Compromise | Flat Fee Tax Service

IRS SETTLEMENT - OFFER IN COMPROMISE -

SETTLE FOR LESS

If you are looking for IRS tax professionals and owe the IRS money, there are some important factors to keep in mind.

The first thing to note is that the IRS is similar to any other "lender". The IRS is interested in collecting as much as of your IRS tax debt as fast as they can, when they can. The IRS wants to "close files". An Offer in Compromise will "close your file". This means they are always open to providing tax settlement through what is known as an Offer in Compromise (explained below).

The second thing to remember regarding IRS tax relief is that it's essential to make sure you are well represented when dealing with the IRS and as such, you should chose an IRS Tax Attorney carefully. There are many reputable IRS tax relief firms (like ours at Flat Fee Tax Service, Inc.) who are very experienced in how to best present your situation to the IRS.

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Offer in Compromise - IRS Settlement

Additionally, it is important to understand the benefit of paying the IRS what you can afford to pay, even if it’s a small amount. Ignoring your IRS tax debt will impel the IRS to use tough tactics against you, such as placing a federal tax lien against everything you own or levying your assets (wage garnishment or bank account seizure) until your IRS tax debt is satisfied.

Obviously, it’s always in your best interest to pay, if you can, what you owe on time. It is often difficult for many people to do so. That is why a number of struggling taxpayers seek out an IRS tax debt relief firm that’s knowledgeable in dealing with the government and navigating IRS channels. A reputable IRS tax relief company can help you get more time to pay your IRS tax debt as well as a reduction in the amount of tax you owe.

IRS TAX RELIEF - What Is an Offer in Compromise?

An Offer in Compromise (OIC) (#taxsettlement) is the ultimate IRS tax relief program that the IRS has and is essentially an agreement made between the IRS and a taxpayer that allows the taxpayer to pay less than the full amount they actually owe. With this type of IRS settlement agreement, the taxpayer can usually choose to make a lump sum tax payment or set up an installment plan. While it might not be available to everyone, the Offer in Compromise program has enabled many taxpayers to settle their IRS tax debt.

FLAT FEE TAX SERVICE HAS SETTLED 96% OF OUR OFFER IN COMPROMISE SUBMISSIONS.

PER 2016 IRS STATISTICS, THE IRS APPROVED APPROXIMATELY 42% OF THE OFFER IN COMPROMISE SUBMISSIONS.

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OFFER IN COMPROMISE SUCCESS STORIES

The IRS will consider an tax debt settlement through the Offer in Compromise program under certain circumstances. A taxpayer may be approved to settle IRS debt if the IRS concludes that the original amount due is otherwise uncollectible (#currentlynotcollectible). WHAT DOES AN OFFER IN COMPROMISE COST?

You may also get an Offer in Compromise approved if you have legitimate doubt that you actually owe that amount of tax debt – called “doubt as to liability.” Finally, in some situations the IRS will accept a lesser amount than what’s owed if payment would cause undue hardship to the taxpayer or their family. (For example: a family owes the IRS but needs the money to pay for their sick child’s medical care, and paying their full IRS tax debt would come at the expense of that care.)

IRS Tax Relief - Setting up an IRS Payment Plan

As stated before, it is never advisable to ignore or hide from the IRS when you're unable to pay. In fact, the IRS may be more willing to work with you than you think. If you’re unable to pay your tax liability in full, your best option may be to request an installment agreement.

Also known as an IRS Payment Plan (#IRSinstallmentagreement), this IRS settlement agreement allows you to pay your tax debt over a period of time (up to five years in some cases), depending on the type of tax debt and how much you owe. If you've received a notice from the IRS, your first step should be to respond by following the instructions included with the notice. Usually the IRS will instruct you to contact them by phone or mail. You will then receive further instructions and have the opportunity to request an installment agreement.

IRS TAX RELIEF - The Bottom Line

Owing the IRS can be stressful and overwhelming, but always remember that you have IRS tax relief options. The IRS is in the business of collecting money and thus provides several ways for taxpayers to settle your IRS tax debt. It is possible to put your IRS tax debt behind you once-and-for-all, but you have to be proactive about resolving tax issues. Doing nothing will only make matters worse.

If necessary, you may seek the assistance from an experienced and successful IRS Tax Attorney. The IRS tax relief professionals at Flat Fee Tax Service have a proven track record of success. Our tax professionals and IRS problem solvers (#IRStaxlawyers) are experienced at putting together your Offer in Compromise as well as IRS Payment Plans. As you can see, there are a variety of options available for those who cannot afford to pay their full IRS tax debt.

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