Doubt as to Collectability
If the IRS determines that you are unable pay your tax in full, then they will work out a settlement agreement with you.
The IRS put together the Offer In Compromise (OIC) program to assist taxpayers who are unable to pay their tax debt in full. The program has very strict guidelines, and only a few people qualify for it. It is important that you have a tax professional assist you with you Offer In Compromise so you do not end up wasting your time and money, only to find that you do not qualify for an Offer In Compromise.
Many tax companies will tell you that you qualify for an Offer In Compromise upfront, charge you $3,000 to $10,000 for the service, only for you to find out you do not qualify, and the money you spent is gone. You also sign away your rights to a statute of limitations, as well as give the IRS access to all of your private financial information when you apply for an Offer In Compromise. Do not trust anybody who promises you an OIC upfront without having completed a full financial investigation into the matter.
MyTaxHelpAttorney.com’s experienced tax professionals will help review your case, and determine your financial eligibility for an Offer In Compromise. A full investigation of your financial eligibility, along with a case review will be presented to you, along with all of your options. If you qualify for an OIC, you potentially can settle your tax debt for as little as 5 to 20% of your current debt. Even if you fail to qualify for an OIC, you can still resolve your tax problem with many other programs including payment plans, penalty abatements, currently non-collectible among others.
The IRS will only settle your tax debt for less with an OIC if you can prove your inability to pay anything more than what you are offering over the remaining collection period.
Eligibility for an Offer In Compromise is determined based off of many qualifying financial factors, as well as a review by the IRS. The IRS will require you to fill out a full financial disclosure (Form 433c) as well as form 656 in order to determine if you qualify for an Offer In Compromise. Your income, expenses, assets, future ability to earn money, are all taken into consideration. The IRS does not want to settle with you if they believe you can pay more than you are offering them.
MyTaxHelpAttorney.com works together with tax attorneys, CPA’s, Enrolled Agents, and other tax relief professionals who will help you qualify, prepare, submit and negotiate your Offer In Compromise. Working with a tax professional will help you maximize your tax savings and relief potential by correctly determining the lowest possible offer to the IRS. Even if you do not qualify for an OIC, our tax professionals can assist you with resolving your tax debt using other IRS tax relief programs.
Contact us today for a free consultation to learn more about you eligibility for an Offer In Compromise, and other legal tax relief options.
Call us direct at (888) 601-7080 or contact us below:
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