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IRS SETTLEMENT: IRS Makes Offer in Compromise Easier for Troubled Taxpayers
The IRS has announced an easing in the acceptance of IRS Settlements through the Offer in Compromise program. Details regarding the new Offer in Compromise rules being eased by the IRS are in this article.
1st the Bad News - We all know that the Federal (as well as most of the States) Government is broke. The IRS has been aggressively pursuing the collection of back tax debt. This is illustrated in the volume of tax liens and tax levies that have been executed.
As the economy has soured, the IRS has filed an increasing number of liens on property owned by delinquent taxpayers. The IRS filed nearly 1.1 million liens in the budget year that ended in September 2010, compared with 426,000 in 2001.
In fact, Flat Fee Tax Help, has seen an uptick in the number of troubled taxpayers who have seen their wages, paychecks and Social Security Benefits levied. Never before have we witnessed levies on taxpayers that owe as little as $1,000.00.
Now the Good News.
Flat Fee Tax Service now guarantees that an IRS Wage Levy will be released and stopped in 1 day/24 hours. Flat Fee Tax Relief has increased its proficiency in saving your paycheck.
You can't get any better than that.
More Good News.
The IRS has eased its rules regarding the acceptance of an IRS Settlement through the IRS offer in Compromise program.
"These steps are in the best interest of both taxpayers and the tax system," Doug Shulman, the IRS Commissioner said. "People will have a better chance to stay current on their taxes and keep their financial house in order. We all benefit if that happens."
The agency believes the changes "will help people trying to get right with their taxes and we think it strikes the right balance to protect the interests of the government,"
Offer in Compromise - The IRS is expanding a new streamlined Offer in Compromise (OIC) program to cover a larger group of struggling taxpayers. This streamlined Offer in Compromise (OIC) is being expanded to allow taxpayers with annual incomes up to $100,000 with tax liabilities of less than $50,000 to participate.
An IRS Settlement via an Offer in Compromise will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement. The IRS looks at the taxpayer’s income and assets to make a determination regarding the taxpayer’s ability to pay.
Because so many taxpayers no longer have any equity in their homes and that available credit to re-finance your home has dried up, it becomes ever less likely that a back tax debt will ever be paid in full.
An Offer in Compromise remains a complicated formula based on your income, assets and allowable expenses. More taxpayers can settle their tax debt for less than they owe should they meet certain income and debt requirements.
Only one of three conditions must be met to qualify a taxpayer for IRS Debt Relief consideration of an IRS Offer in Compromise (OIC) Tax Settlement:
Doubt as to Collectability — You can show that the IRS Tax Debt is likely uncollectable in full by the IRS under any circumstances. Doubt exists that you, the taxpayer, could ever pay the full amount of your tax liability owed within the remainder of the statutory period for collection. In other words, you do not have the money to pay the back tax debt.
Doubt as to Liability — You can show reason for doubt that the assessed tax liability is correct. A legitimate doubt exists that the assessed tax liability is correct. this is the least available action.
Effective Tax Administration — You do not contest your IRS Tax Debt liability or collectability but can demonstrate extenuating or special circumstances that the collection of your IRS Tax Debt would "create an economic hardship or would be unfair and inequitable."
If you are looking to settle your tax liability with the IRS, it will most like be due to "doubt as to collectability"
The Offer in Compromise program is not a "give-a-way"
The reason why most IRS Settlements are rejected by the IRS is not because of the merit of the Offer. The Offer in Compromise high rejection rate is due to individuals trying to maneuver the IRS system on their own.
DON'T BE A "PENNY WISE, A POUND FOOLISH".
The IRS is still the worlds largest and most powerful collection agency. The IRS is tasked with collecting money for the Federal Government. The IRS didn't suddenly become "warm and fuzzy".
It is important that citizens pay their taxes, however, there is a Taxpayer's Bill of Rights. If you cannot, under the IRS guidelines, pay your tax debt, your tax liability can be settled.
THIS IS YOUR OPPORTUNITY TO PUT YOUR IRS PROBLEM BEHIND YOU.
If you qualify to settle your back tax debt with the IRS through the IRS Offer in Compromise (OIC) program, you can save thousands and thousands of dollars in taxes, penalties and interest. Taxpayers can negotiate settlements on all types of taxes, including most payroll taxes, penalties, and interest. It is the closest thing to amnesty that the federal government offers in connection with back tax debt.
Flat Fee Tax Relief has a tax resolution package that will accommodate everyone.
Do you have an IRS Levy now or pending?
Do You have unfiled tax returns?
Flat Fee Tax Relief - Affordable Tax Help
If you owe the IRS between $10,000 and $100,000; pay only $1900 for full tax relief representation which includes:
1. IRS Wage Levy / IRS Garnishment removal,
2. IRS Settlement via the IRS Offer in Compromise program and,
3. up to 3 years of tax returns.
4. $300.00 retainer to start work & 8 monthly payments of $200.00 (total of $1900.00)
An Offer in Compromise takes 6 months to 1 year to complete.
Flat Fee Tax Service is - Fair & Reasonable
WHY FLAT FEE TAX RELIEF FOR YOUR IRS SETTLEMENT
• Experienced Tax Attorneys
• Lower fees - higher value
• Integrity, credibility, personal service & results
• No Salesman - No Pressure
FLAT FEE TAX RELIEF IRS SETTLEMENT FEES ARE:
• Fixed with no hidden charges
• Payable in monthly installments
• Low initial payment to begin work
• Always competitive and affordable
Flat Fee Tax Relief keeps our fees low, fair and reasonable because we do not employ sales people who will take 20 to 25% of your precious retainer fees. Flat Fee Tax Relief also does not spend money on expensive television ads. Most of our new clients are referred to us by our very satisfied clients.
If you qualify for an IRS Settlement through the IRS Offer in Compromise (OIC) program, you can "get your life back" and have a fresh start. You can save thousands of dollars in taxes, penalties and interest.
You can have an IRS tax debt on all types of taxes settled, which includes most payroll taxes, penalties, and interest. It is the closest thing to amnesty that the federal government offers in connection with back tax debt.
The IRS has finally recognized the economic downturn and understands it is in everyones best interest to settle with taxpayers in trouble through no fault of their own.
Can't pay the IRS? Take advantage of the easing of the Offer in Compromise program.
DO YOU QUALIFY FOR AN OFFER in COMPROMISE? ONLY 1 WAY TO FIND OUT. CALL.
FLAT FEE TAX RELIEF - Good people - Doing Great Work
FLAT FEE TAX RELIEF - Christian Values
The Flat Fee Tax Relief Offer in Compromise Help-line:
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FLAT FEE TAX SERVICE guarantees to have an IRS Wage Levy Stopped and released in 1 day/24 hours. Experienced, diligent and affordable IRS help can be yours. You can settle with the IRS.