Reasonable Collection Potential - Key Assessment to Offer in Compromise Success - DWK Tax G

US-WIDE, US-wide - Aug. 5, 2013 - PRLog -- DWK Tax Group’s arsenal of options for all struggling taxpayers include, the ability to obtain Enrolled Agent Tax prepared unfiled tax returns regardless of how complex the matter is. Sole Proprietor, Partnership, Corporation, S-Corporations and Individual any level of complexity, DWK Tax will get to the very “core” of a tax issue seeming unsolvable.

If client privilege is necessary (Criminal / Flagrant behavior), the enrolled agent cannot do the tax preparation and exercise a Koval letter of privilege. The second option is to speak to barred tax attorney with references and extensive experience in the matter of tax controversy. DWK has 3 Tax Attorneys on staff for general public use, retention and advice. Truthfully, 9 out 10 resolution cases are solved expeditiously via the enrolled agents.

Settlement of a State or IRS tax problem does not require a ridiculous amount of cost to the taxpayer to resolve. Clients have shared in the past of an estimate for services for an installment agreement and 3 years of tax returns for a gouging rate of $6600. Ridiculous! DWK worked that same case for $2150 and was completed in 48 hours including filed tax returns, faxed direct and submitted for 6-8 month processing. At DWK the price for representation is never based on the amount that you owe but only the work that is required to resolve. Fees are flat, unless more tax returns are needed to gain compliance.

Reasons an Offer in Compromise (OIC) will fly;

1) Doubt of Liability – The proof of burden rest with the taxpayer to prove his or her position, hence the necessity of tax professional involvement.

2) Doubt of Collectability – The reasonable collection potential is key. Among many variables, income, “allowable” living expenses, existing assets just to name a few.

3) Effective Tax Administration – A consideration of taxpayer’s state of life circumstances beyond his or her control. Every single case file is never exactly alike, the uniqueness needs to be discussed upfront in DWK’s initial detailed tax analysis.

Recently an uptick of OIC acceptance is attributed to a series of changed, more relaxed. The changes are as follows but not limited to the following;

1) The inclusion of state or city tax obligations, i.e., current payment plan with a taxing authority other than the IRS.

2) Federal student loan obligations are now includable. In reality it has always been there but the IRS finally announced its acceptance as an expense.

3) The reasonable collection potential period has been reduced to 12 or 24 months vs. 48 or 60 months. Hiring a tax professional will increase the ability for sustainable tax relief via an Offer in Compromise submission.

Risks of a faulty submission are as follows;

1) Loss of $150.00 application fee

2) In a 24 month periodic repayment option, payments made to the IRS while the OIC is being considered is lost toward older tax debt of record.

3) In a 5 month Lump Sum payment option the 20% good faith deposit will be lost.

As you can see many variables come into play, there are proprietary secrets that need to be shared throughout the resolution process to protect your paycheck, your sanity and most importantly your family.

Keypad 1 – 8 6 6 – 2 2 6 – 6 1 0 2 or click on http://dwktaxgroup.com for more information. If you are seeking a legitimate taxpayer ally, or, an accountable taxpayer advocate to team up with? Consider the safety of no non-sense tax attorney or enrolled agent team here at DWK Tax Group. We treat all of our clients as if they are family, we will not rest until the issue is resolved to fullest degree allowed by federal or state tax law.

Thank you for your time in advance…

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