Are you, a financially struggling taxpayer, at loggerheads with the IRS over a tax return(s) from years ago? Your delinquent tax debt may be weighing on your mind, causing you anxiety and sleepless nights, but there’s a way you can put the matter to rest for good.
Your Fresh Start Strategy: Make the IRS an offer it can’t refuse.
The technical name given by the IRS for such a settlement arrangement is an “offer in compromise” (OIC).
The IRS is willing to go along with a settlement deal, but it won’t budge on the procedures. You must submit a formal settlement which is called an Offer in Compromise.
The IRS Tax Relief Team at Flat Fee Tax Service, Inc. has a 95% success rate because we do not lie to our clients and give them false hope. Our IRS Tax Attorneys know what the IRS will accept as a settlement of your back tax debt.
Here’s the whole story: An Offer in Compromise settlement is an agreement between a financially struggling taxpayer and the IRS. A successful Offer in Compromise will settle for less than the full amount of back tax owed. If the liability can be fully paid through a normal installment agreement or other means, the taxpayer generally isn’t eligible for an Offer in Compromise.
You must be qualified and eligible. You, the struggling taxpayer, must have filed all tax returns, made all required estimated tax payments for the current year and deposited payroll taxes for the current quarter if he or she is a business owner.
An Offer in Compromise Settlement Is A Financial Formula.
The IRS will accept an Offer in Compromise settlement if the amount offered by the taxpayer is equal to or greater than what is termed, the “reasonable collection potential” (RCP).
The RCP includes the value that may be realized from the taxpayer’s assets—such as real property, automobiles, bank accounts and other property—as well as anticipated future income (less certain amounts allowed for basic living expenses).
There Are Three (3) Reasons For An Offer In Compromise.
The IRS says it may accept an OIC based on three grounds.
1. Doubt as to Liability: This ground is only met when there is a genuine dispute as to the existence or amount of the correct tax debt under the law.
2. Doubt as to Collectibility: Doubt that the amount owed is fully collectible: Such doubt exists where the taxpayer’s assets and income are less than the full amount of the tax liability.
3. Effective Tax Administration: This occurs when there’s no doubt that the tax is legally owed and that the full amount owed may be collected, but requiring payment in full would create an economic hardship or be “unfair and inequitable” under the circumstances.
THE ONLY REASON THAT YOU NEED TO BE CONCERNED WITH IS:
DOUBT AS TO COLLECTIBILITY.
When submitting your Offer in Compromise (OIC) based on doubt of collectability, you must use the most current version of Form 656, Offer in Compromise.
Financial Statements: You will need to submit Form 433-A (OIC), Collection Information Statement for Wage Earners and Self-Employed Individuals, and/or Form 433-B (OIC), Collection Information Statement for Businesses.
When the IRS accepts your settlement offer, the IRS expects that you, the taxpayer, will have no further delinquencies and will fully comply with the tax laws. You will be required to file your taxes on time for five (5) straight years. If you owe the IRS any money ($), you will have to pay it with your tax return.
If you, the struggling taxpayer, doesn’t abide by all the terms and conditions of your successful Offer in Compromise settlement, the IRS may determine that your OIC is in default. If the IRS rejects your OIC, the taxpayer will be notified by mail.
Tip: The letter will explain the reason for the rejection and provide detailed instructions on how to appeal.
What does an Offer in Compromise cost?
Generally, a taxpayer must submit a $186 application fee for an OIC. Don’t combine this fee with any other tax payments. However, there are two exceptions to this requirement.
1. No application fee is required if the OIC is based on doubt as to liability.
2. The fee is not required if the taxpayer is an individual (not a corporation, partnership, or other entity) who qualifies for the low-income exception.
The latter exception applies if the taxpayer’s total monthly income falls at or below 250% of the poverty guidelines published by the U.S. Department of Health and Human Services.
Tip: You may choose to pay the offer amount in a lump sum or through installment payments.
The IRS, in the past two (2) years, has expanded the Offer in Compromise program and has been accepting more settlements than ever before. The new rules for a successful Offer in Compromise are contained in the IRS Fresh Start Initiative.
NOW IS THE TIME TO SETTLE WITH THE IRS FOR LESS.
ARE YOU QUALIFIED AND ELIGIBLE?
Call Flat Fee Tax Service, Inc.: 1-800-589-3078.
GET OUT OF DEBT WITH THE IRS.
Flat Fee Tax Service, Inc. will stop an IRS Levy (usually in 2 hours) and prepare your Offer in Compromise settlement for $1900.00:
1. Initial Fee of $190.00
2. 09 Monthly Fee Payments of $190.00
3. Total For Work: $1900.00
NO ONE CAN BEAT OUR AFFORDABLE FEES, MATCH OUR EXPERTISE AND MATCH OUR RECORD OF SUCCESS.
NO ONE DOES IT BETTER.
Flat Fee Tax Service, Inc.:
1. No Client Complaints.
2. Accredited by the Better Business Bureau.
3. Maintain an A Plus Rating with the Better Business Bureau.
4. Experienced IRS Tax Attorneys will work directly with you.
Our Consultations Are Free And Confidential: 1-800-589-3078
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