Offer in Compromise – Internal Revenue Service – Hardship Settlements – Affordable IRS Settlement Offers

An Offer in Compromise is an IRS settlement that allows a financially struggling taxpayer to settle an income tax debt for less than the full amount owed. An Offer in Compromise may be a legitimate option if the taxpayer cannot pay the full income tax liability, or doing so creates a financial hardship. The IRS must consider a taxpayer’s unique set of facts and circumstances:

  • Ability to pay;
  • Income;
  • Expenses; and
  • Asset equity.

The IRS will generally approve an offer in compromise settlement when the amount offered represents the most that the IRS can expect to collect within a reasonable period of time. The IRS will try and discourage a taxpayer. Explore all other payment options before submitting an offer in compromise. The Offer in Compromise program is not for everyone. If you hire a tax professional to help you file an offer, be sure to check his or her qualifications.

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Make sure you are eligible to settle with the IRS:

Before the IRS will consider a taxpayer’s settlement offer, the taxpayer must be current with all filing and payment requirements. You are not eligible if you are in an open bankruptcy proceeding. Call the IRS tax relief team at Flat Fee Tax Service, Inc. for your free and confidential consultation. A consultation call to our team will be the quickest way for a taxpayer to find out their qualifications for an IRS settlement.

Submit an Offer in Compromise Settlement:

A taxpayer can submit an IRS settlement on their own. It is not recommended. Presently, at the time of this writing, the IRS is accepting 40% of the settlement offers that are submitted. Most of the 40% used a tax professional. The clients who use Flat Fee Tax Service, Inc. have had a 90% success rate. 

If you are stubborn and want to do your own settlement, you will find step-by-step instructions and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B.  A taxpayer’s completed offer package must include:

  • Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms;
  • Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;
  • $186 application fee (non-refundable); and
  • Initial payment (non-refundable) for each Form 656.

Select payment option:

The taxpayer’s initial payment will vary based on the offer and the payment option choosen:

  • Lump Sum Cash: Submit an initial payment of 20 percent of the total offer amount with the application. Wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.
  • Periodic Payment: Submit an initial payment with the application. Continue to pay the remaining balance in monthly installments while the IRS considers the settlement offer. If accepted, continue to pay monthly until it is paid in full.

Should a financially distressed taxpayer meet the Low Income Certification guidelines, the taxpayer does not have to send the application fee or the initial payment and the taxpayer will not need to make monthly installments during the evaluation of the offer. Check the application package for details.

You Need to Understand the Entire Process:

While a settlement offer is being evaluated:

  • The taxpayer’s non-refundable payments and fees will be applied to the income tax liability (payments can be designated to a specific tax year and tax debt);
  • A Notice of Federal Tax Lien may be filed;
  • Other collection activities  (levies) are suspended;
  • The legal assessment and collection period is extended;
  • Make all required payments associated with the settlement offer;
  • The taxpayer is not required to make payments on an existing installment agreement; and
  • The settlement offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.

IMPORTANT NOTE:

If a taxpayer decides to do their own Offer in Compromise, the settlement offer had better be done correctly the VERY 1st TIME. The reason is this: the IRS suspends the Statute of Limitations during the Offer in Compromise submission process. That means if the settlement offer is rejected for any reason, the IRS has extended the time to enforce collection.

DO IT RIGHT THE FIRST TIME AND AVOID A LOT OF TROUBLE

FLAT FEE TAX SERVICE, INC.:

  1. Guided by our Christian Values which is why we do not have Client Complaints.
  2. Accredited by the Better Business Bureau. A Plus Rating. Check our BBB reviews for yourself.
  3. Experienced IRS Tax Attorneys will work directly with you throughout the process.
  4. Stop, remove and release an IRS wage levy in one day.
  5. 90% of our clients who submit an IRS settlement have received a successful Offer in Compromise.
  6. Low, Affordable Fees. Fees can be stretched out over 10 to 12 months.
  7. Our clients receive positive results.

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“America’s Best & Most Affordable IRS Income Tax Relief Team”

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Flat Fee IRS Tax Relief – Affordable IRS Levy Help: IRS Tax Debt Relief – How to Settle with the IRS – Flat Fee Tax Service the Affordable IRS Tax Relief Team

Flat Fee IRS Tax Relief – Affordable IRS Levy Help: IRS Tax Debt Relief – How to Settle with the IRS – Flat Fee Tax Service the Affordable IRS Tax Relief Team.

Flat Fee IRS Tax Relief – Affordable IRS Levy Help: IRS Offer in Compromise Made Easier – Flat Fee Tax Service Your Affordable IRS Relief Team

Flat Fee IRS Tax Relief – Affordable IRS Levy Help: IRS Offer in Compromise Made Easier – Flat Fee Tax Service Your Affordable IRS Relief Team.

IRS To Struggling Taxpayers – Let’s Make A Deal – Want A Fresh Start – Now Is The Time

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.

GREAT NEWS!

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. at: 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.:

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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.

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IRS Offer in Compromise Submissions and Acceptances Have Increased – Do It Now

90% of the IRS Offer in Compromise submissions made to the IRS by clients of Flat Fee Tax Service, Inc. have been successfully accepted by the IRS. Not everyone is qualified and eligible to settle with the IRS for less.

YOU MAY BE ELIGIBLE AND QUALIFIED. YOU MAY NOT BE.

FIND OUT IF YOUR ARE.

The IRS tax relief team at Flat Fee Tax Service, Inc. can determine during our initial consultation if you should be submitting an Offer in Compromise settlement to the IRS.

THE IRS HAS NEVER BEEN THIS LENIENT.

TAKE ADVANTAGE NOW.

The IRS Data Book (Publication 55B issued March, 2013) for Fiscal Year 2012 noted that for the fiscal year (October 1, 2011 through September 30, 2012) the number of Offer in Compromise settlements submitted to the IRS rose 8% from 59,000 in fiscal year 2011 to 64,000 for fiscal year 2012 (Table 16 of Publication 55B).

More importantly, the IRS Data Book lists an increase in Offer in Compromise acceptances by the IRS from fiscal year 2011 to fiscal year 2012 by 20%!

WILL YOU BE ACCEPTED FOR AN IRS SETTLEMENT?

In fiscal year 2011, as per the IRS Data Book the number of Offers in Compromise accepted was 20,000 and in fiscal year 2012 that number went up to 24,000.

DO YOU WANT A FRESH START?

The IRS has reported an increase in the dollar amounts of offered settlements accepted from $154,092,000 in fiscal year 2011 to $195,652,000 in fiscal year 2012.

The IRS has become more flexible in accepting Offers in Compromise. Now is the perfect time for you, the struggling taxpayer who has a tax debt owed to the IRS, to consider if you qualify for the offer in compromise program and, if so, to submit your settlement offer to the IRS for consideration.

The Offer in Compromise program settles the taxpayer’s debt of unpaid federal tax for less than the full amount owed. Generally, the IRS accepts offers of settlement if, on review, it is determined that the tax cannot be paid in full or through a long term payment agreement. More detailed information concerning the Offer in Compromise program can be found on our Website:

Flat Fee Tax Service, Inc. Web Page For Services

While this is the perfect time to submit an offer in compromise to the IRS to settle your past due tax debt, you have to remember that while in fiscal year 2012 the IRS offer acceptance rate rose as per the Data Book to 37.5% that also means the rejection rate was 62.5%. The majority of those rejections from our experience are poorly prepared offer submissions.

The best way to avoid having your settlement offer rejected is to have professional assistance in the perpetration, submission and negotiation of your offer in settlement package. An offer in compromise package is not just one simple form you full out but a number of detailed forms and supporting documents that needs to be prepared and gathered and packaged then submitted to the IRS for review.

DO IT RIGHT THE FIRST TIME!

Taxpayers don’t realize is that the process does not end with the submission of the offered settlement package but continues with discussions, conferences and negotiations with IRS Offer Specialists down the road.

An Offer in Compromise really is rather complicated and the best way to handle it is to get professional help by looking for and retaining a trusted IRS tax relief firm with tax attorneys who specialize in this field of tax resolution (Federal and State). The best way is to look for a respected tax relief firm like Flat Fee Tax Service, Inc. which is listed with the Better Business Bureau (BBB) with an A rating and zero complaints.

As the IRS Data Book shows, now is the absolute best time to see if you qualify for the offer in compromise program and, if you do qualify, to submit your IRS tax settlement package. Strike while the iron is hot but don’t find yourself in that 62.5% of rejections by trying to do it yourself; get the professional help needed to take advantage of the IRS’ new flexibility in settlement offer acceptance.

YOU CAN BE ONE OF FLAT FEE TAX SERVICE, INC. 90% SUCCESS STORIES.

The IRS tax relief team at Flat Fee Tax Service, Inc. has extensive experience in tax resolution and has represented numerous clients worldwide, providing professional IRS tax advice and expertise to resolve IRS tax matters including Offers in Compromise, levy and garnishment release (most IRS wage levies stopped in 1 day), filing all unfiled tax returns, appeal penalties and establishing minimal payment plans with the IRS.

If you have unfiled tax returns or owe the IRS or state over $10,000 in back taxes, call the IRS tax relief team at Flat Fee Tax Service, Inc. now at 1-888-875-4506 for your free tax consultation or visit their website at:

http://www.flatfeetaxservice.org for more details.

Our tax experts will take over all communications with the IRS and handle your case from beginning to end.

IF YOU QUALIFY AND ARE ELIGIBLE TO SUBMIT AN OFFER IN COMPROMISE,

CAN YOU AFFORD THE FOLLOWING:

1. An Initial Fee of $300.00?
2. 10 Monthly Fee Payments of $160.00?
3. Total Fees Are $1900.00.

CAN YOU AFFORD THE ABOVE?

IF YOU CAN, YOU CAN GET YOURSELF IRS TAX HELP TODAY.

CALL: 1-888-875-4506

WEBSITE INFO: http://www.flatfeetaxservice.org

FLAT FEE TAX SERVICE, INC.:

1. No Client Complaints.
2. Fully Accredited by the Better Business Bureau.
3. A-Rating with the Better Business Bureau.
4. Experienced IRS Tax Attorneys.
5. Affordable Fees.
6. Monthly Fee Arrangements.
7. 90% Offer in Compromise Success Rate.
8. Most IRS Wage levies Stopped and Released in 1 Day.
9. Flat Fee Tax Service, Inc. is: Ethical, Moral, Dependable and Thorough.