Tag Archives: Offer

Irs Offer in Compromise Can it Solve Your Irs Tax Debt Problems

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You must double check to make sure you have filled out everything as fully as possible and signed the form. Leave nothing blank. If you make a mistake, your IRS settlement will be denied. You have to include a 20% settlement with your offer. So make sure you do it right, because the money is non-refundable. There is much riding on proper completion of Form 656 and the completeness of your supporting documents!

Another option for IRS tax debt settlement would be through an Offer in Compromise. An IRS Offer in Compromise allows taxpayers that cannot afford to fully pay their back tax liability, the chance to lower their due amount according to their financial situation. The IRS looks at a taxpayer’s past, current and future financial situation when evaluating whether an Offer in Compromise should be accepted.

Bankruptcy. Typically bankruptcy is not the best settlement method to ever choose because you owe taxes but sometimes it can help you settle if you owe other debts as well. With Chapter 7 you can discharge all taxes owed if you meet strict requirements. You will first be required to liquidate your assets in order to put that money towards paying your taxes first and after that it is a possibility that any remaining can be discharged. Other types of bankruptcy will require you to still pay back your taxes in a form of a payment plan.

Before you begin on your quest for tax settlement as your preferred form of tax debt relief, it is important to know the success rate. While it is true that you can actually settle your IRS tax debt for less, the IRS does not “give up easily” on full collection of past tax debt. In fact, fewer than 20% annually of all Offer in Compromise applications submitted to the IRS are approved.

To get more time all you have to do is compose a letter back to the IRS in response to the assessment notice or CP notices and mention that you cannot pay at the current time and say you would like a 45 day extension. When 45 days is up and you can’t pay, just do it again. Just know that once you receive IRS notice CP-504, you will not have much more time until they take collection actions against you.

Tax specialists employ or include Tax Attorneys and Enrolled Agents. IRS tax specialists are experienced in all tax debt issues and know exactly what you qualify for, and how to help you get your Offer approved. They can make the difference in achieving an accepted offer.

What is IRS tax settlement? The Offer in Compromise program is essentially a “compromise” or “settling” of the past due IRS tax debt liability. This means that the IRS is willing to accept a smaller portion of what is owed as payment in full on the delinquent tax debt.

After you’ve determined that you have a chance at settling your IRS debt, you will need to fill out Form 656 “Offer in Compromise.” Make sure you fill out every single space, leave nothing out. Make sure to sign the paperwork, as this is a common mistake people make when they submit their own forms. You do not want your tax settlement offer rejected due to simple mistakes because you will have to submit 20% of your offer along with the forms. If your offer is rejected, this money is non-refundable.

As tax experts know the right way to represent your case, you stand a very good chance of getting Tax Relief and beneficial tax settlement. The tax consultants are familiar with all the tax laws and are updated with changes in tax laws and codes that happen regularly. Their negotiation tactics are powered by their knowledge and experience and are sure to clinch a better deal for you.

Samuel Landis possesses a masters degree (LLM) in addition to his law degree. He has been one of the pioneering and driving forces in IRS controversy resolution. To Know More About Samuel Landis Visit <a rel=”nofollow” onclick=”javascript:_gaq.push(['_trackPageview', '/outgoing/article_exit_link/3287826']);” href=”http://www.scltaxlaw.com”>IRS Tax Attorney</a>.


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How to Get Tax Relief through the IRS Offer in Compromise Program

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The IRS Offer in Compromise program is designed for people who, for whatever reason, are absolutely incapable of paying off their tax debt in full. It can be a powerful tool in helping you permanently eliminate your tax debt. If you owe back taxes to the IRS and you are unable to pay the debt in full, you may be eligible for this program.

It is important to consult with a qualified tax professional first to analyze your current financial situation, previous tax returns and other records. By determining exactly how much you owe the IRS, you are ensuring that you’re not obligating yourself to pay even a penny more than what you owe.

Under this Offer in Compromise program, you and your tax professional can negotiate with the IRS a final settlement amount that will retire your tax debt once and for all. Oftentimes, this settlement amount to pennies of the dollar of your tax debt.

In this current economic downturn, the IRS has announced that it will be providing help to those Americans struggling to meet their tax obligations this year. This is a difficult time for many Americans facing financial hardship, but with the IRS pledging to offer greater flexibility to troubled taxpayers, there’s a unique opportunity for Americans to get the tax help they need now to resolve their IRS debt.

Although you will want to discuss the particulars of your tax situation with your tax consultant, here are some things you will need to know about qualifying for the Offer in Compromise program:

Who can file an Offer In Compromise?

Any taxpayer may file: individuals, married couples, trusts, corporations, limited partnerships, limited liability companies, foundations, associations and other non-profit organizations and estates. In each instance, a duly authorized individual must sign the Offer in Compromise.

What are the requirements for an Offer in Compromise?

In order to be considered for an Offer in Compromise, a taxpayer must meet all of the following requirements:

* Used the most current version of Form 656, “Offer in Compromise,” dated February, 2007 and Forms 433-A and 433-B, “Collection Information Statements, ” dated January, 2008
* Submit the 0 application fee, and the 20% non-refundable deposit with Form 656 Offer in Compromise
* Filed all required federal tax returns
* Is not a debtor in a bankruptcy case.
* Taxpayers must comply with all federal tax filing and paying requirements for a period of five years following acceptance of their Offer in Compromise, or until the Offer in Compromise is paid in full, whichever is longer. This also includes making required estimated tax payments and federal tax deposits.

What is the most common reason for large tax liabilities that force taxpayers to file Offers in Compromise?

Large tax liabilities are generally caused by unpaid withholding (payroll) taxes. Owners and other responsible parties within a business are personally assessed the unpaid trust portion, or taxes actually deducted from the employees. This is called the 100 percent penalty assessment.

If business owners cannot pay the full withholding tax, they should at least pay the trust portion -that amount withheld from employees-and designate that the payment be applied only to the trust portion liability. The business will owe its share of the payroll taxes due, but its officers and other responsible parties will have no personal liability. Other common reasons for filing an Offer In Compromise include extensive audits, not fling for a number of years or tax shelter investments that are disallowed.

Can penalties and interest be compromised under an Offer in Compromise?

Yes. Penalties and interest can both be compromised in the same way as the underlying tax liability. In fact, in submitting an offer, you must include all owed taxes, plus penalties and interest, for your offer to be considered. However, if penalties are your major concern, then consider a penalty abatement, particularly if you have reasonable grounds for the IRS to waive the penalty. The abatement process is far simpler than an OIC, and it is your proper remedy when you can pay the tax, but believe you have justification for being excused from the penalties.

How likely is it that the IRS will accept an Offer in Compromise?

In the past, the chances of acceptance were poor-only about one in four. The odds of settling with the IRS are now far better because the IRS has liberalized its OIC policies. Taxpayers and their advisors, in turn, have also become more realistic in their offers to the IRS. A realistic Offer in Compromise now stands an excellent chance of acceptance. If you closely follow the instructions in this product, you should have no trouble reaching a fair and workable settlement with the IRS.

How long does it take for an Offer in Compromise to be approved by the IRS?

Generally, you must allow 6-12 months. If you case gets rejected and we take it to Appeals, it could take longer. But no matter how long it takes, a qualified tax professional can often negotiate to have all collection activities suspended.

Will an Offer in Compromise show up on my Credit Report?

A: No. Unlike a bankruptcy or credit card charge off, an Offer in Compromise does not get reported to the credit reporting agencies. An offer in compromise will not negatively affect your credit score. However, ignoring the problem will cause the IRS to file a notice of federal Tax Lien, with your county recorder, which WILL show up on your credit report.

For more information on submitting an Offer in Compromise or to get professional tax advice on reducing your IRS debt, visit www.taxresolution.com for a free tax relief consultation or call 866-IRS-PROBLEMS.

Michael Rozbruch is one of the nation’s leading tax experts. A Certified Tax Resolution Specialist (CTRS), licensed CPA and the founder of Tax Resolution Services. He helps individuals and small businesses solve their IRS problems and is dedicated to educating the public on tax planning and other strategies for managing their personal and business finances.


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Michael Gray interviews attorney William Mahan about the tax consequences of real estate short sales and foreclosures for the Financial Insider Weekly. Part three of three focuses on federal tax relief and bankruptcy.
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IRS Tax Settlement, Offer in Compromise. Heres what to do first

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www.irsproblemshouston.com IRS Tax Settlement is can be done with IRS payment plans, tax negotiation, and Offers in Compromise. Heres what to do first. IRS tax settlements usually come into play in one of two situations: 1.When a taxpayer owes money to the IRS that they cannot pay in full immediatelyor 2. When the IRS claims a taxpayer owes money and the taxpayer disagrees. As a CPA with almost 30 years of experience settling IRS tax debts I can tell you from experience, there are three steps in successfully settling a tax debt: 1.Assessing your tax situation 2.Devising an IRS strategy 3.Making the IRS tax settlement deal Assessing Your Tax Situation The first step in a successful tax settlement is to properly assess your situation. If you have received several notices from the IRS, pull them out and review them. Is the IRS clear on what they are trying to collect for? Next get a copy of the tax return involved. Check it to get a handle on if you really owe the tax. Sometimes taxpayers make mistakes on their tax returns and really owe the money. But almost as frequently, many times the mistake is made by the IRS and not the taxpayer. I remember an interesting study done by the Government Accounting Office several years ago. The governments own accountants studied a sample of IRS notices and found an alarming percentage either contained errors; or attempted to collect penalties and interest that were not owed. Of course if you are working with an inexperienced tax advisor …
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A Special Offer For Members of The Military- US Army Debt Relief Program Serves The Purpose

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Debt relief programs cater to all classes of people including the military. In fact the members of the military have special privileges out of which military debt consolidation can also be considered one. The US army debt relief programs are very much like the debt relief programs for regular people and the military debt consolidation is also used to consolidate all the bills into a single loan so that all the credit card bills with high interest rates can be paid off once a month at an affordable rate of interest.

Debt consolidation or debt settlement services offered to members of the US military have the same set of features as any other regular loan such as single one time loan, low rate of interest on the consolidation loan, extension of term period of repayment, the property of the debtor is placed as collateral in lieu of the loan. American military debt management services are offered to the family members of the military personnel who are active as well as retired from duty. The US army debt relief programs are provided by agencies like Military Debt Management Services, Military Debt Management Agency and AAFES. Numerous financial institutions also offer a helping hand in the for of military debt consolidation or debt settlement services to the needy members of the military. The debt settlement services or military debt consolidation services enables the debtor to pay off the debt in a single monthly payment at an affordable rate and there are certain American military debt management services specialize in offering military debt consolidation services to all the military personnel.

The government initiates military debt consolidation and debt settlement services targeted for the military as the members of the military sacrifice their life for the security of the country. The borrower’s taking the US army debt relief program are members of the military and since they receive several privileges in various forms the military debt consolidation service is also a type of debt relief program that helps the military personnel to get rid of their debt. Certain points need to be ascertained by the military personnel availing American military debt management services and they also need to know the rules, terms and conditions of the debt consolidation services so that it helps in speedy recovery of the debtor as fast as 60%-90% as compared to not availing the military debt consolidation services.

The military personnel can also opt for debt settlement services wherein a portion of his debt will be waived off by the creditors and a lower amount will be settled to be paid off by the military personnel. The American military debt management companies offer their services as mediators between the military personnel who are under debt and the creditors to whom money is owed. Military debtconsolidation will be able to offer services for any type of loan such as credit cards, personal loans and car loans.

The benefits of securing the US army debt relief program are getting back on track and improving ones credit score by paying off the credit card debts. Military debt consolidation is carried out via mortgaging the property wherein the members are eligible for tax deductions. The interest paid on the debt consolidation loan is taxable.

Jason Rodson is a regular writer on DebtConsolidation123.net, a US based portal, which provides detailed information on Military debt consolidation, American military debt managementand other Debt settlement services related issues.


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Seven Deadly Sins of Tax Relief Revealed: Critical Errors to Avoid in the IRS Offer in Compromise Process

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While the IRS is more determined than ever to enforce collection activity for back taxes owed, the IRS Offer in Compromise program can help taxpayers who are experiencing significant financial problems get a fresh start, if they qualify.

However, it is important to note that the IRS Offer in Compromise acceptance rate is less than 23% (less than one in four will be accepted) when a taxpayer prepares, submits, and negotiates his/her offer without professional expert representation. On the other hand, hiring professional tax help to negotiate a settlement with the IRS on your behalf can greatly increase your chances of qualifying for a tax relief settlement.

An experienced tax attorney or Certified Tax Resolution Specialist (which can only be an attorney, CPA or Enrolled Agent) can help you qualify for this program by analyzing your current financial situation.

While taxpayers may always represent themselves before the IRS, many taxpayers find dealing with the IRS frustrating, time-consuming, intimidating or all of the above. Whether you hire professional tax help or go up against the IRS on your own, check out these Seven Deadly Sins of Tax Relief that you will want to avoid when applying for an Offer in Compromise.

 

Tax Relief Deadly Sin #1: Failing to file a tax return when due, without extensions, during the offer process. The IRS does not make a habit of bailing people out with tax relief for back taxes owed. They want you to know that this is a one-time aberration on your part and that for the rest of your life you will file and pay your taxes on time. In order to help convince them of your good intentions, it is crucial to file all subsequent tax returns on time.

 

Tax Relief Deadly Sin #2: Failing to pay any taxes when due during or after submission of your offer. See Deadly Sin #1. The IRS won’t take you seriously if you flake on payments during the Offer in Compromise process. If you are serious about resolving your tax debt, you need to show that you will fully comply with the tax laws without further delinquencies.

It is also important to note that the IRS requires future compliance for a period of five (5) years from the date of acceptance of the Offer In Compromise, or until the offered amount is paid in full, whichever is longer. Compliance is the timely filing and paying of all required returns and taxes when due.

 

Tax Relief Deadly Sin #3: Hostility toward anyone at the IRS. Remember that old saying, “You catch more flies with honey than with vinegar?” No one likes a sycophant, but treating any IRS employees you encounter with courtesy and respect will help keep your back tax relief process moving smoothly.

Your experience will not be with the IRS per se.  Your experience will be with an individual who may like or hate giving taxpayers deals.  We see this behavior every day. Remember, you can’t pick who you want to evaluate and handle your offer; it is simply the luck of the draw. So it’s best to keep your cool during the process.

And if you are represented by a tax problem resolution specialist, make certain that the Service Agreement or Contract for Services indicates that the fees paid include representing you at Appeals, as your OIC has a good chance of being rejected by the first IRS employee charged with evaluating it.

 

Tax Relief Deadly Sin #4: Misrepresenting your financial position in any way on any document. The taxpayer bears the burden of proof to show exceptional circumstances exist such that collection of the full amount of IRS back taxes would create economic hardship or where compelling public policy or equity considerations provide sufficient basis for compromise.

Attempting to lie, fib, misrepresent, omit, equivocate, dissemble, or otherwise tell them an untruth will not win you an Offer in Compromise and may even land you bigger trouble than when you started the process. All documents you sign are signed “under penalty of perjury.”

 

Tax Relief Deadly Sin #5: Failing to meet a deadline the IRS or a tax attorney or Certified Tax Resolution Specialist gives you. If the IRS – or your tax attorney or Certified Tax Resolution Specialist – gives you a deadline, you need to honor it. Give yourself a cushion of time to find that old bank statement or fill out that tax help form. You don’t want to have to drive 50 miles with a sick kid in the back of your car to make the midnight FedEx deadline in the nearest big city.

 

Tax Relief Deadly Sin #6: Misleading or deceitful statements, material omissions and non-disclosure to anyone at the IRS in verbal, written, electronic, or any other format. Again, if you don’t play by their rules, they won’t play tax relief ball with you at all. Don’t fool yourself by thinking your rolled up stack of Ben Franklins is safely tucked away in an old coffee can at the back of the garage or in a numbered Swiss account. The IRS already knows every money-hiding trick in the book, and they will uncover all of your financial secrets.

 

Tax Relief Deadly Sin #7: Refusing, declining, avoiding requests for information or documents. They’re going to find out all of your back tax secrets anyway, so you might as well be upfront about them. Better to rip off a bandage quickly, as it were, and start the process of resolving your tax problems once and for all.

While the IRS is more determined than ever to enforce collection activity for back taxes owed, the IRS Offer in Compromise program can help taxpayers who are experiencing significant financial problems get a fresh start, if they qualify.

However, it is important to note that the IRS Offer in Compromise acceptance rate is less than 23% (less than one in four will be accepted) when a taxpayer prepares, submits, and negotiates his/her offer without professional expert representation. On the other hand, hiring professional tax help to negotiate a settlement with the IRS on your behalf can greatly increase your chances of qualifying for a tax relief settlement.

An experienced tax attorney or Certified Tax Resolution Specialist (which can only be an attorney, CPA or Enrolled Agent) can help you qualify for this program by analyzing your current financial situation.

While taxpayers may always represent themselves before the IRS, many taxpayers find dealing with the IRS frustrating, time-consuming, intimidating or all of the above. Whether you hire professional tax help or go up against the IRS on your own, check out these Seven Deadly Sins of Tax Relief that you will want to avoid when applying for an Offer in Compromise.

 

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Michael Rozbruch is one of the nation’s leading tax experts. A Certified Tax Resolution Specialist (CTRS), licensed CPA and the founder of Tax Resolution Services. He helps individuals and small businesses solve their IRS problems and is dedicated to educating the public on tax planning and other strategies for managing their personal and business finances.

For more information on achieving a tax resolution for your IRS problems, visit www.taxresolution.com for a free tax relief consultation or call 888-851-5894.


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Tax Relief May Offer Some Halt to Florida Foreclosures

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Florida foreclosure listings are continuing to multiply. As recent as 2000 ¨C

2005 Florida was truly the sunshine state. Unemployment was down to

record lows and the housing market was on a continuous upswing. Many

predicted that the trends would not last. Unscrupulous lending practices

along with an overvalued market and the changing economy was leading

many down the road to financial hardships. Initially it was the single family

home market which was causing the rise in Florida foreclosure listings, now

it is affecting the condo market. Too many Floridians have their homes on

the market, there is simply not enough buyers.

Florida legislators are proposing a tax relief on property taxes to attempt

to thwart the Florida foreclosure listings to grow any further. By providing

this tax relief, it is hoped that more homeowners will be able to afford to

stay in their homes. Some naysayers claim that this legislation will not be

enough, however, the project needs to be enacted to determine what, if

any, it will do to the bottom line of the Florida real estate market.

Florida, the Sunshine State has always been a hot tourist spot along with a

great real estate market. The wonderful climate, plethura of high

secondary education and ample opportunity to land gainful employment

relatively easy, and low cost of living makes makes Florida an attractive

place to experience homeownership to both the young and old. It is these

same homeowners who are experiencing the hardest crunch to make their

payments on their homes. Predatory lending practices as well as

skyrocketing credit consumer interest rates along with ARM mortgages

hitting their peaks have caused the State of Florida to be among the

highest in foreclosures.

Many are saying the housing market crisis will not be over until 2010. The

tax relief being proposed by the Florida legislation may not be enough for

everybody, but it should help a great number to obtain some financial

breathing room. The financial breathing room may be just enough to slowly

turn around the depressed housing market and to stop the Florida

forclosure listings from continuing to grow. However, if your finances are

intact, you have job security and are looking for some prime Florida real

estate at some rock bottom prices, the Florida foreclosure listing should be

your first avenue to check when considering the purchase of Florida

property.

Bob Smith is a freelancer but regularly writes for ForeclosureListingsNationWide.com. You can get more information on Florida foreclosure listings at http://www.foreclosurelistingsnationwide.com.


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Florida Speaker of the House Marco Rubio (R-West Miami) responds to Democrats and local government officials who are trying to obstruct property tax relief in Florida, and delay a billion dollar tax cut plan from passage.
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Safe Assistance Offer by Tax Relief Help

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Have you experienced to be one of those people who needs immediate tax relief help? If you are, then there is nothing to worry. There are numerous solutions outlined for you. In this type of set-up, it is where what you know is significant and it pays a major role. First, you must know if you definitely need the tax relief help, or if a direct advice can help you solve the problem. The uncertain part about obtaining a suggestion, even it is from the IRS, it can still have a chance of being delinquent and it could charge you with many penalties.

When you have determined whether or not you need the help, you must call for the suitable company to help you in the damage control of your tax help. You must be cautious. With the tax term comes the unlicensed tax agents waiting to get hold of your every dollar with their promises of tax relief help. You need to be careful that you don’t get baffled because several times these roguish companies routinely leave after the 15th of April, leaving you making transactions with the government when tax relief help is unsuccessful. And you do not want to be experiencing these situations.

During the last couple of years, the government was able to crack down on those fake tax help agents. To be able to go about getting fine tax relief help is to call for an enrolled agent. These enrolled agents are significantly knowledgeable in the realm of tax requirements and they are also qualified to stand for clients who require tax help in front of the IRS. They are outstanding in preparing your tax return and assisting you to be away from tax penalties. These tax relief help agents provide tax help to a wide range of scenarios; from law firms, tax preparation chains, accounting firms, financial advisory chains and the National Association.

Like most specialists in tax return, they cause you to look guilty on the degree of the tax return. Because of this, if you have numerous of tax helps information to present, get ready for a higher fee. With filing your taxes the proper way, you should also involve securing a financial planning with tax relief help to be attached with the tax information. This can be eventually considered as a financial breakthrough and could be one of the smartest stuff you can finish as either a client or a business owner.

CPAs can do tax help planning. But, it may require you to take a glimpse at retirement planning and real estate issues, too. There are many ways to conduct with IRS tax debt the moment it has been confirmed. The IRS tax obligation can be obtained from back a tax due which is an IRS audit assessment. The moment the tax debt has been completed, it must be focused with systematic dialogue with the IRS. Our tax relief help has efficiently secured many taxpayers and minimized their debt borrowed through different avenues.

Are you looking for in depth information about tax relief help, then visit Mike Roger’s Site to find the best advice on tax relief help for you.


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Overwhelmed with IRS Tax Debt? Need IRS Tax Relief? IRS Offer in Compromise

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IRS OFFER IN COMPROMISE – IRS TAX SETTLEMENT – IRS TAX RELIEF

An IRS Offer in Compromise ( also known as an OIC ) is an excellent way to settle your IRS Tax Debt with the IRS for much LESS money than what you currently owe. This Settlement of IRS Taxes has been commonly known as “pennies on the dollar”.

An  IRS Offer in Compromise ( IRS Tax Settlement ) should be considered by all taxpayers who cannot pay the IRS in a lump sum. It is for those who do not have enough assets to sell or liquidate to satisfy their back Tax Debt. It is for those who will not have the future earnings to satisfy the amount of Tax due (IRS Penalties and Interest included).

At least one of three conditions must be met to qualify a taxpayer for consideration of an IRS Offer in Compromise (OIC) Tax Settlement:

Doubt as to Liability

Doubt as to Collectibility

Effective Tax Administration

An IRS Offer in Compromise (OIC) will have no effect upon a IRS Tax Lien. The IRS Tax Lien will remain in effect until the IRS Offer in Compromise is accepted by the IRS and the full amount of the Offer in Compromise (OIC) has been paid in full. Once the IRS decides that an IRS Offer in Compromise (OIC) is processable and that the IRS Offer in Compromise includes all the paperwork and forms properly filled out, the IRS must stop IRS Wage Garnishment / IRS Wage Levy / IRS Bank Levy actions under §6331.

If the Offer in Compromise is missing documents or forms, however, the IRS can (and they will ) return the paperwork to the debtor as un-processable, and the IRS can (and the will) then proceed with an IRS Wage Garnishment or IRS Levy of your wages/property.

All the more reason to have highly skilled Tax Attorneys represent you.

DO YOU WANT REALLY GREAT NEWS?

In the last published IRS statistics, the IRS reports that the average discount on an accepted Offer in Compromise was 88% (only 12 cents on the dollar was paid by Americans with an accepted Offer in Compromise (OIC), and that the average acceptance rate was 47.6%. Given the savings possibilities on accepted Offer in Compromise (OIC), the determined and diligent team of Tax Attorneys at DWK TAX GROUP specializes in the Offer in Compromise program and works very hard to see if our clients qualify for an Offer in Compromise (OIC).

It is important to emphasize, for example, the fact that the Congress told the IRS to have a liberal acceptance policy in processing IRS Offer in Compromise cases. Our legal memorandum also cites the Congressional tax policy to settle your IRS Tax liability to give taxpayers a fresh start.

What are you waiting for? Stop “thinking about it”. Be Pro-Active. Save yourself from the stress.

We will not accept any Tax Case if we cannot save you money.

You must be eligible and qualified.

DWK TAX FEE FOR AN IRS OFFER in COMPROMISE:  ,600.00.

Senior Discounts Available. AARP Discounts Available.

Affordable Payment Plans Available to You.

To find out more, (CALL 1-866-226-6102)

Visit the DWK Website at: http://www.dwktax.com

DWK Tax Group is the Nationwide Internet ( Offers in Compromise ) Tax Resolution Company. DWK Tax Guarantees Release IRS Garnishments / IRS Wage Levy. Affordable Payment Plans.


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Tax Masters Patrick Cox as seen in a Tax Masters commercial airing on networks across the US. Tax Masters provides IRS Tax Relief. Are you being audited? Have you not filed tax returns for years? Has the IRS come to your home or place of business? The IRS will relentlessly pursue you for unpaid taxes. I’m Patrick Cox, founder of Tax Masters. The former IRS agents and Tax Professionals at TaxMasters will solve your tax problems. We’ll get between you and the IRS. We’ll make sure they treat you fairly and treat you with respect. Don’t wait weeks for an appointment. Call us today, we’ll get started today. Call 1-877-469-4568. Tax Masters, we solve your tax problems.

Can’t Pay Your Back Taxes? Get Tax Help to Make the IRS an Offer They Can’t Refuse

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The best negotiation advice ever: Every one walks away a little “hurt.” When fighting the IRS over your back taxes, you may feel manacled by the threat of tax liens, wage garnishments and jail time. But don’t worry, a Certified Tax Resolution Specialist knows all sorts of expert strategies to give you the tax help you need to walk away from the IRS with your money and your freedom intact. The trick is partnering with a Certified Tax Resolution Specialist or a tax attorney to increase your chances of qualifying for an IRS payment plan helping you settle your back tax debt for the lowest possible amount, and removing bank levies, tax liens or wage garnishments.

The best tax help a Certified Tax Resolution Specialist or tax attorney can offer is to broker an Offer in Compromise (OIC) settlement. While the IRS web site seems to make it easy to settle your back taxes by simply filling out an Offer in Compromise form, Uncle Sam’s tax help brings serious dangers. Make one mistake and not only will you pay more than you have to, but your very freedom could be at stake. Instead of thinking of it as IRS help, you should look at the Offer In Compromise form as a plea agreement in a criminal trial. You are admitting your full back taxes liability in the hopes of a reduced sentence. Is it smart to try to broker a criminal plea agreement without the tax help of a Certified Tax Resolution Specialist or tax attorney? No way! Unless you’re a Certified Tax Resolution Specialists or a tax attorney, leave tax settlements and Offers in Compromise negotiations to the experts.

New Offer In Compromise changes you need to know: The offer in compromise (OIC) application is a challenging and burdensome process. The privilege of being approved for an OIC closely resembles receiving

The ,000 Formula to Settle your Back Taxes There is a simple guiding tax help formula about back taxes: If you owe less than ,000, and you haven’t been in trouble before – you can call the IRS and they will hook you up with a payment plan to be paid in 36 monthly installments.

How Much Does the IRS Think You Are Worth? An offer in compromise is an agreement between a taxpayer and the Internal Revenue Service that resolves the taxpayer’s back tax liability, usually for a fraction of what’s owed. The taxpayer must file and pay his taxes on time for the next five years after acceptance…sort of like Tax Probation. The IRS settles for a lesser amount if there is doubt about the collectability of the amount over the remaining Collection Statute of Limitations vs. what they think they can collect now. If the IRS determines that receiving a lump sum now (albeit just a fraction of the amount owed) would be more than it would cost the agency, in overhead costs, over the remaining life of the collection statute, they will accept your offer.

The minimum offer amount must generally be equal to (or greater than) the taxpayer’s reasonable collection potential (RCP). The RCP is defined as the total of the taxpayer’s realizable value in real and personal assets, plus his/her future income. A Certified Tax Resolution Specialist or tax attorney can find ways to show the IRS that you’re not Daddy Warbucks while providing tax help such as removing wage garnishments and reducing your back tax debt.

To Qualify for an IRS Payment Plan or Tax Settlement Before your tax attorney or Certified Tax Resolution Specialist can make an Offer In Compromise or negotiate a payment plan with the IRS to settle your back taxes, you need to come clean and file all delinquent tax returns with the IRS.

DO NOT SUBMIT AN OIC TO DELAY OR HINDER COLLECTIONS If the IRS believes you are just using the Offer in Compromise to delay paying your debt or thinks you aren’t acting in good faith; they can revoke (return) OIC privileges to settle your back taxes debt. If you get on the wrong side of the IRS, the individual IRS agent has a lot of latitude to decide what they will allow you to do. An experienced Certified Tax Resolution Specialist or tax attorney will have threaded that needle hundreds of times before, giving clients back tax help without angering the IRS.

Why Some Offers in Compromise are More Likely to Get Accepted Than Others Please note that in 2007, nationally, 46,000 Offers were submitted with only 12,000 or about 26% were accepted. The acceptance rate of a good tax attorney or Certified Tax Resolution Specialist, on the other hand, may be as much as five times (approximately 90%) the national average. Why? Because experienced Certified Tax Resolution Specialists or tax attorneys won’t allow clients to submit frivolous OICs. Sometimes the best tax help a tax attorney or Certified Tax Resolution Specialist can give is to say “no” to a client that is about to foolishly blow their hard earned money to settle their IRS back taxes. You must financially qualify and eligible for this program.

Last resort: Learn How to File For Bankruptcy Correctly to Help Solve Tax Problems and Reduce IRS Debt If the IRS rejects your Offer In Compromise or denies you the privilege of making one, you still have the right to declare bankruptcy, but even that is tricky without the help of a tax attorney or Certified Tax Resolution Specialist. To get the maximum tax help from this drastic step, you have to declare bankruptcy at the correct time to eliminate your back taxes. TIMING IS EVERYHTING HERE! But what most clients (who try this without the tax help of a tax attorney or Certified Tax Resolutions Specialist) don’t know is that to completely discharge your back taxes debt you have to file on the correct date.

There are 3 general rules to be met to file for bankruptcy and discharge income taxes:

1) The income tax (payroll tax cannot be “bankrupted”) returns must be 3 years old or older than the due date, including filed extensions;

2) The returns have to be filed with the IRS 24 months prior to the petition, therefore Substitutes for Returns (SFRs) do not count (an SFR must be replaced with an “original” filed return and then wait 24 months). It has to be an originally filed return. And it must have been filed at least two years prior to bankruptcy.

3) 240 days have to pass from the date of assessment. Date of assessment is usually the date of filing, but if the IRS does an audit and they assess additional tax, that establishes a new assessment date for that year. So it is possible for a taxpayer to have two or more assessment dates for one year. If it’s used correctly, income taxes can definitely be discharged. You need a Certified Tax Resolution Specialist, or tax attorney, to properly analyze and interpret your IRS tax transcripts and Records of Account to determine when and if you are eligible.

So remember, even if you have crushing IRS debt from back taxes with no hope of ever paying it back, there are lots of possibilities. A Certified Tax Resolution Specialist or tax attorney has a full arsenal of tax help to settle your back tax debt with the IRS on a reasonable payment plan or an offer in compromise that pays pennies on the dollar of back taxes owed. With an experienced Certified Tax Resolution Specialist or tax attorney at your back, you can strut away from the IRS negotiating table with more money in your pocket and no danger of going to the big house.

For more information on how to resolve your back taxes and IRS problems, visit http://www.taxresolution.com for a free tax relief consultation or call 866-IRS-PROBLEMS.

Michael Rozbruch is one of the nation\’s leading tax experts. A Certified Tax Resolution Specialist (CTRS), licensed CPA and the founder of Tax Resolution Services. He helps individuals and small businesses solve their IRS problems and is dedicated to educating the public on tax planning and other strategies for managing their personal and business finances.


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