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Tax Professionals Share The IRS’ Best Kept Secrets | Flat Fee Tax Service

Updated: May 22, 2019

Tax Professionals and IRS Tax Attorneys Share IRS Best Kept Secrets

The tax professionals at Flat Fee Tax Service, Inc. have helped thousands of people take the first step to lower stress and lower their tax debt. If you owe $10,000 or more in taxes, you need to hear about the IRS’ best kept secret: tax debt forgiveness (#IRSsettlement). This brief guide explains what tax relief is and how you can use it to reduce your tax debt.

Millions of Americans are drowning in tax debt and need IRS tax relief. If you are one of them, you know about the stress and frustration of having to deal with the IRS. The taxman doesn’t care about your medical bills, that you lost your job, or that you're going through a messy divorce.

Without real IRS tax relief, the IRS can hold on to your tax refund, take a chunk of your pay or bank account (tax levy/IRS garnishment), put a Federal tax lien on your property, seize and sell your property and revoke your passport.

Uncle Sam also can take 15% (FPLP) of your Social Security and Veteran's check, a benefit that’s off-limits to private creditors.

IRS Enforcement Can Be Stopped.

IRS Tax Relief - IRS Problems Settled

There are tax relief programs that may help you wipe your tax debt clean. However, these programs may not apply if you have shown a pattern of evading IRS efforts to communicate with you. So it's important to take action and resolve these tax issues before it's too late.

Why would the IRS be interested in forgiving your debt?

The IRS is the biggest and meanest debt collector in the world, right? RIGHT! The IRS can put a tax lien on all your property, seize money from your bank accounts, and even garnish your wages. All without the need of a court order. So, why would the IRS be interested in forgiving your debt? Good question. The answer lies in two rarely published facts about the IRS. IRS resources are constrained. Five years of budget cuts by Congress has limited the IRS’ ability to enforce its own laws. The IRS budget has been reduced by $1.2 billion since 2010 despite having 12.8 million more tax returns to process. Since 2010, the IRS has laid off 17,000 workers, which explains why, in 2015, the IRS only audited 0.7% of all tax returns.

You may have heard that the IRS only has 10 years to collect taxes, but did you know it only has 3 years to assess your tax liability after you file a tax return? These time restrictions put a lot of pressure on already overworked IRS agents.

The IRS does not have the budget to prosecute every case. The IRS relies heavily on their computer system known as "Automated Collection System" (ACS). It would rather focus its physical resources on wealthy taxpayers who frivolously refuse to pay their tax liability. If you're struggling to pay back taxes but you're willing to negotiate, the IRS may be ready to settle. Hire an experienced tax resolution firm and trim your tax debt to a more manageable amount.

How can IRS tax relief help you?

Tax debt relief is the answer to crushing IRS tax debt weighing on so many American families who simply don’t have the money to pay their taxes. IRS tax relief programs help taxpayers (#offerincompromise) by reducing the amount they owe, giving them more time to pay, or a combination of both. It’s a win-win for the IRS and taxpayers.

Remember the IRS is underfunded and overworked. The IRS Tax Attorneys at Flat Fee Tax Service, Inc. will use the weaknesses in the IRS system to our clients benefit. So it prefers to forgive some of your debt than waste its resources going to trial or pursuing a long collection process. An IRS settlement requires you to complete complicated forms and provide detailed financial reports. Many taxpayers are rightfully wary of sharing financial information that could later be used against them. Therefore, millions of dollars in IRS tax relief go unclaimed every year. You may be entitled to a tax reduction. Don't miss out. The IRS tax relief experts at Flat Fee Tax Service, Inc.can help simplify the process.

What type of IRS tax relief options are there?

There are several tax relief programs taxpayers can apply for, but only three that offer debt forgiveness:

a. The Offer in Compromise program

b. The Partial Pay Installment Agreement program

c. The Penalty Abatement program.

The Offer in Compromise Program

An Offer in Compromise (#IRSofferincompromise) is a settlement where the IRS accepts less than the total debt amount in exchange for a lump sum or up to two years of monthly payments. As far as debt forgiveness goes, offers in compromise are usually the best deal available to taxpayers. The problem is it’s not easy to meet IRS eligibility criteria.

However, since 2010, the IRS has relaxed its standards. In 2015, the IRS accepted 40.3% of all offers in compromise. In 2016, the IRS accepted approx. 42% of the IRS settlement submissions.The acceptance rate is even higher for taxpayers who hire a tax relief company. It’s common for tax relief firms to maintain acceptance rates of over 90%.




The IRS Partial Pay Installment Agreement

The Partial Pay Installment Agreement (#IRSinstallmentagreement) does not get much attention and publicity, but it often has even better terms than offers in compromise.

An IRS Partial Pay Installment Agreement is similar to an Offer in Compromise in that the IRS forgives part of your debt, but it has longer repayment terms: typically, 36 to 72 months. Although Partial Pay Installment Agreements typically includes less debt forgiveness, they are easier and faster to qualify for and you don’t have to provide as much financial information.

Penalty Abatement

If you are late paying or filing a tax return (#unfiledtaxreturns), the IRS will charge you interest and penalty fees. These fees are no joke. The accrual of penalties and interest often represent 50 percent of the initial tax liability, according to a 2015 report by the National Taxpayer Advocate.

The IRS has a penalty abatement program you can use to request a reduction or removal of interest and penalty fees. Unfortunately, many taxpayers are missing out on thousands of dollars of penalty relief simply because they don’t know about these programs or are unable to navigate IRS bureaucracy.

Can you negotiate directly with the IRS?

Yes, you can but know this: Taxpayers who submit their own Offer in Compromise submissions have only a 30% chance of success.

Although it is possible to negotiate with the IRS by yourself, it is usually not a good idea. If you owe more than $10,000 or you’re facing a tax audit, you should hire a professional IRS tax relief firm. The IRS may be underfunded, but don’t confuse lack of resources with incompetence.

The IRS has a 96% conviction rate and 80% of the cases it wins result in prison sentences. Tax law is extremely complex. Just as with criminal law cases, it is rarely a good idea to represent yourself. When you deal directly with the IRS it is easy to slip-up and provide self-incriminating information that can (and will) be used against you in an audit or criminal investigation. You need a team of professionals on your side.

Do yourself a favor and hire an IRS tax relief firm.

What to look for when hiring an IRS tax relief firm?

Only hire an IRS tax relief firm that:

Have IRS Tax Attorneys, CPAs and enrolled agents on staff

Offer flexible payment options

Are licensed to act as a power of attorney in your state

Are accredited by the Better Business bureau and maintain an A-Plus rating.

Not sure which company to hire?

Get a free consultation with tax professionals like Flat Fee Tax Service, Inc. that meets these requirements.

Call our IRS tax relief team today. The consultation is free and confidential. You have no obligation to hire our IRS tax relief team. At the very minimum, you’ll know what IRS tax relief programs and tax resolution options you qualify for.






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