Offer in Compromise | San Jose California | Flat Fee Tax Service

The IRS tax relief team at Flat Fee Tax Service is very happy to announce another successful IRS Offer in Compromise settlement.

Our client, Kamaljit M. of San Jose, California has received acceptance by the IRS for his Offer in Compromise. Our client has settled his IRS back tax debt of $13,000 for $500.00.

THAT’S RIGHT!

OUR EXPERIENCED IRS TAX ATTORNEYS HAVE DONE IT AGAIN.

Our client, Kamaljit M. of San Jose, Calif. will get the Fresh Start that he deserves.

NOT EVERYONE IS ELIGIBLE.

IF YOU ARE ELIGIBLE, YOU SHOULD HAVE FLAT FEE TAX SERVICE

PREPARE YOUR IRS SETTLEMENT.

The IRS is continuing its expansion of their Fresh Start Initiative by offering more flexible terms to its Offer in Compromise (OIC) program that will enable some of the most financially distressed taxpayers to clear up their tax problems and in many cases more quickly than in the past.

“This phase of Fresh Start will assist financially struggling taxpayers who have faced the most financial hardship in recent years,” said IRS Commissioner Doug Shulman (former IRS Commissioner). “It is part of our multi-year effort to help taxpayers who are struggling to make ends meet.”

Although Doug Shulman is no longer the IRS Commissioner, the IRS Offer in Compromise Fresh Start program continues.

This announcement focuses on the financial analysis used to determine which taxpayers qualify for an IRS Offer in Compromise settlement (otherwise known as an IRS Settlement). The IRS Fresh Start Initiative also enables some taxpayers to resolve their tax problems in as little as 5 months compared to four or five years in the past.

In certain circumstances, the changes announced include:

• Revising the calculation for the taxpayer’s future income.

• Allowing taxpayers to repay their student loans.

• Allowing taxpayers to pay state and local delinquent taxes.

• Expanding the Allowable Living Expense allowance category and amount.

In general, an IRS Offer in Compromise is an agreement between a financially distressed taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed. An IRS Settlement Offer is generally not accepted if the IRS believes the liability can be paid in full as a lump sum or a through a payment agreement. The IRS looks at the taxpayer’s income and assets to make a determination of the taxpayer’s reasonable collection potential.

The IRS recognizes that many taxpayers are still struggling to pay their bills, so the agency has been working to put in place common-sense changes to the Offer in Compromise program to more closely reflect real-world situations.

When the IRS calculates a taxpayer’s reasonable collection potential, it will now look at only one year of future income for offers paid in five or fewer months, down from four years, and two years of future income for offers paid in six to 24 months, down from five years. All settlement offers must be fully paid within 24 months of the date the offer is accepted. The Form 656-B, Offer in Compromise Booklet, and Form 656, Offer in Compromise, has been revised to reflect the changes.

Other changes to the Offer in Compromise program include narrowed parameters and clarification of when a dissipated asset will be included in the calculation of reasonable collection potential. In addition, equity in income producing assets generally will not be included in the calculation of reasonable collection potential for on-going businesses.

DO YOU NEED TO SETTLE WITH THE IRS?

DO YOU HAVE LIMITED FUNDS?

ARE YOU A FINANCIALLY STRUGGLING TAXPAYER?

DO YOU WANT AN ESTABLISHED TAX RELIEF TEAM

TO GET YOU OUT OF IRS TROUBLE?

DO YOU WANT THE BEST DEPENDABLE AND AFFORDABLE

IRS TAX RELIEF TEAM?

CALL FLAT FEE TAX SERVICE, INC.: 1-866-747-7435

FREE, CONFIDENTIAL AND COMPREHENSIVE CONSULTATION.

Flat Fee Tax Service, Inc.:

1. Guided by our Christian Values.
2. Fully Accredited by the Better Business Bureau.
3. A-Plus Rating with the Better Business Bureau.
4. No Client Complaints.
5. 95% of the Offer in Compromise Submissions Have Been Accepted by the IRS.
6. Experienced IRS Tax Attorneys.
7. IRS Wage Levies Stopped and Released in One (1) Day.
8. Very Affordable Fees.
9. Monthly Installments of Fees
10. Positive Results

DO YOU WANT THE BEST IRS HELP?

CALL THE BEST: FLAT FEE TAX SERVICE

CALL: 1-866-747-7435

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Successful Offer in Compromise | Flat Fee Tax Service

Flat Fee Tax Service has a record of excellence regarding our IRS Offer in Compromise submissions. Currently, our IRS tax professionals have a 95% success rate because we only submit IRS settlement offers that are qualified and eligible for an IRS Fresh Start.

Although the IRS Offer in Compromise program has been around for decades, the IRS Fresh Start Initiative is relatively new. The IRS Offer in Compromise program serves the best interests of all concerned, enabling the government collect what it can from a financially struggling taxpayer and relieving the taxpayer of a tax burden he/she cannot pay. Previously, the offer in compromise program had become nothing better than a “drop dead department.”

In years past, the minimum offer the IRS would accept was the sum of the net realizable equity of the taxpayer’s assets (NRE) and the taxpayer’s reasonable collection potential (RCP). The starting point for determining RCP was the excess of the taxpayer’s monthly income over expenses. In the case of an individual taxpayer, the expenses were not the taxpayer’s actual expenses, but allowable expenses determined by applying collection financial standards. The difference was then multiplied by sixty (60). Sixty (60) was the number of months used by the IRS for payment agreements.

Collection financial standards consist of national standards for food, clothing, and other items; national standards for out-of-pocket health care items; local standards for housing and utilities; and local standards for transportation (comprised of public transportation costs, vehicle ownership costs, and vehicle operating costs).

EVERYONE’S FINANCIALS ARE DIFFERENT.

Flat Fee Tax Service has clients who have settled their IRS tax debt for as little as $100.00. We have had clients who settled their IRS income tax debt with $50 per month payments stretched out for 24 months. During our initial consultation, we can determine whether or not you are eligible and qualified for the IRS Fresh Start Offer in Compromise program.

THE IRS HAS RELAXED AND EXPANDED THE OFFER IN COMPROMISE PROGRAM.

The Internal Revenue Manual now specifically provides, “Consideration should be given to the taxpayer’s overall general situation including such facts as age, health, marital status, number and age of dependents, level of education or occupational training, and work experience.”

The new IRS fresh start offer in compromise program is much more realistic and in keeping with the purposes of the program.

The new IRS Fresh Start initiative is advantageous for taxpayers in other ways, including:

Net realizable equity (NRE) in assets is defined as quick sale value (QSV), fewer amounts owed to secured lien holders with priority over the federal tax lien, if any, and applicable exemption amounts. QSV is defined as an estimate of the price a seller could get for the asset in a situation where financial pressures motivate the owner to sell in a short period of time, usually 90 calendar days or less. QSV is normally calculated at 80% of fair market value (FMV).

Funds held in your retirement or profit sharing plan are considered an asset and must be valued for settlement offer purposes. But if the plan may not be borrowed on or liquidated until separation from employment and the taxpayer has no ability to access the funds within the period of the offer, and the taxpayer is not eligible to retire until after the period being used to calculate future income (either 12 months or 24 months, under the new settlement program), then the taxpayer is considered to have no equity in the plan.

If the taxpayer uses a car for work, then $3,450 should be deducted from its QSV otherwise determined.

If the taxpayer is self-employed, i.e., not a wage earner, and the taxpayer’s income fluctuates, then the taxpayer may income average over the last three years in determining reasonable collection potential (RCP), if that is less than the taxpayer’s income for the most recent year.

If the taxpayer’s vehicle is more than six years old or has more than 75,000 miles on it, $200 should be added to the taxpayer’s monthly vehicle operating expense otherwise allowable.

The taxpayer may deduct expenses in excess of those allowed by the collection financial standards, by proving that they necessary for the health or welfare of the taxpayer or the taxpayer’s family, or for the production of income.

FLAT FEE TAX SERVICE RECOMMENDS USING

AN EXPERIENCED IRS TAX PROFESSIONALS.

The IRS will now accept an offer in compromise from an operating business which was once unheard of. The IRS cannot accept an offer in compromise from a business entity if there are trust fund taxes which need to be personally assessed against “responsible persons” with respect to the entity those who control the entity’s available cash, i.e. have the ability to prefer other creditors over the United States. “Trust fund taxes” are Social Security tax, Medicare tax, and federal income tax withheld from employees’ wages but not remitted to the IRS. An assessment of trust fund taxes against a responsible person is called a trust fund recovery penalty.

Before making an offer in compromise, a business entity should ascertain whether it has unpaid trust fund taxes. If your business does have unpaid trust fund taxes, it can still make a settlement offer, provided the amount it is offering is at least as much as its unpaid trust fund taxes, and it designates payments on the offer as against its unpaid trust fund taxes. This way, payments on the offer will also discharge the trust fund obligation with respect to the entity.

The new IRS Fresh Start Initiative offer in compromise program is of undetermined duration. What the IRS gives, the IRS can take away.

If you qualify for an IRS Fresh Start settlement, you should take advantage of the IRS program now.

Call for your free and confidential consultation: 1-866-747-7435

Visit our Websites for fee information:

http://www.flatfeetaxservice.us

https://www.flatfeetaxservice.net

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Offer in Compromise | Atlanta Georgia | Flat Fee Tax Service

Flat Fee Tax Service is very happy to announce that, once again, a client has received a Fresh Start through a successful IRS Offer in Compromise. Our client, who lives in the Atlanta (Fayetteville), GA area, had her $42,000.00 IRS back tax debt reduced to $2400.00. That is what is possible if you are eligible and qualified, should you decide to have your IRS Offer in Compromise prepared by the able tax relief team at Flat Fee Tax Service, Inc.

This is the very kind letter of appreciation that our Atlanta, GA client.

Hi guys,

I can’t thank you all enough for resolving my IRS problem. I have nothing but appreciation for the way it was handled. Your efforts from beginning to end were always prompt and effective.

I first called another Tax Service, talked to the gentleman, while talking with him; he received an emergency call from another client and said he would call me back within an hour, never happened. Time was of the essence for me, I searched the internet again and came across “Flat Fee Tax Services” I said, to myself now that’s a good name for this type of business, the rest is/was history.

I called Flat Fee, spoke to Dave Rosa, while I was a panic state of mind and stressed over the worst possible scenario, YOU managed a balance between calm and urgent, and put first things first. (Not sure which one of you gets this PAT on the back Holger or David) I was within 5 days before garnishment, you acted promptly to STOP the Levy and I thank you so much!!!

Then when that immediate heat was off, David, I really appreciate your ability to clearly and patiently make me understand the process, possibilities, and probabilities to end this nightmare.

I received the OIC acceptance email from David, on May 23, 2013, 

WOW, what a year!!!

HAPPY CLIENT

Your fee has been reasonable and I would strongly recommend your services to anyone that I know with IRS challenges.

Thank you again…if there is any way I can help support your service, by writing a blog, review, advertisement, etc let me know. I have nothing but the highest respect for the job you all did. Continued success in providing a difficult service to all of us in need of your help!!

God Bless, Best Regards,

(name withheld for privacy)

ABOUT FLAT FEE TAX SERVICE:

1. Guided by the Christian Values.
2. IRS Levies stopped and released within 24 hours.
3. Accredited by the Better Business Bureau.
4. Able, determined and experienced tax relief teams led and supervised by IRS Tax Attorneys.
5. Very affordable and reasonable fees. Fees are stretched out to accommodate your monthly budgets.
6. Positive results.

GIVE OUR TEAM A CALL: 1-866-747-7435

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CALL FLAT FEE TAX SERVICE TODAY: 1-866-747-7435