Monthly Archives: October 2017

IRS Tax Negotiation – Solving IRS Tax Problems

If You Owe Federal Income Taxes but Cannot Pay

How does a taxpayer negotiate with the IRS? If the thought of IRS enforcement sends chills down your spine, you can relax. IRS Tax Attorneys at Flat Fee Tax Service, Inc. specializes in helping you resolve your tax dilemmas. Depending on your financial circumstances and how much you owe, you may be able to make payments over time or pay a reduced amount, either in a lump sum or in installments. In some cases, you won’t have to pay your back tax debt at all, at least for now. In some cases, you can have your back tax obligations permanently forgiven

Installment Payment Agreement

If you can afford to make monthly payments to settle your tax obligations, an IRS installment agreement may be the best strategy you can take. However, the IRS may require for you to complete Form 9465: Installment Agreement Request and Form 433-F: Collection Information Statement by mail. A taxpayer should be careful what they disclose to the IRS as their main purpose is to collect past due income taxes the Department of Treasury.  If you have assets or income, you may want to consider contacting our tax relief team prior to submitting financials.  In addition, while you are making payments through a payment agreement, don’t look for any tax refunds – they will be appropriated to offset your past due to balance.

Partial Payment Settlement Agreement

If a taxpayer wants to negotiate a partial payment settlement agreement, a taxpayer will need to submit Form 9465 along with form 433-F and a letter explaining why you wish to be granted a reduction in your total back tax obligation. You will have to provide financial substantiation, and you may want to consider having all IRS installment agreements reviewed by an IRS Tax Attorney prior to submission. If your request is granted, you will make installment payments just as you would with a regular installment payment arrangement.

Offer in Compromise – The Ultimate IRS Settlement

When you see or hear those ads promising to settle your tax bill for “pennies on the dollar,” the program those ads refer to is the Offer in Compromise. There are three categories under which the IRS accepts Offer in Compromise requests:

  • Doubt as to Liability: The amount of tax assessed is incorrect
  • Doubt as to Collectability: This is the category most often used. The person filing under this category must demonstrate that he or she will likely never be able to pay the full tax obligation due to financial hardship or some other compelling reason.
  • Effective Tax Administration: Requests for relief under this category do not dispute the amount of the tax. Rather, the claim is that collecting the tax would create an injustice. Elderly or disabled taxpayers often use this category.

THE CATEGORY YOU SHOULD BE CONCERNED WITH IS “DOUBT AS TO COLLECTABILITY”.

Traditionally, an Offer in Compromise involves tedious paperwork and long waits while the IRS processed requests. However, in 2011, the Fresh Start program was instituted which will provide additional relief and a more streamlined process under certain conditions. To request an Offer in Compromise, file Form 656: Offer in Compromise and Form 656-A: Income Certification for Offer in Compromise Application Fee and Payment.  Offer in Compromises have a very low acceptance rate, and you may want to consider hiring a professional to help your chances of success if you feel that you may qualify.

95% OF FLAT FEE TAX SERVICE, INC.’S CLIENTS HAVE HAD A SUCCESSFUL IRS SETTLEMENT.

PER IRS STATISTICS, IN 2016 THE IRS APPROVED 42%

OF ALL OFFER IN COMPROMISE SETTLEMENTS.

Tax Penalty Abatement

If you are able to pay your entire back tax debt, but just want a break on the IRS penalties that have been tacked on, the Tax Penalty Abatement program may provide tax relief. You must provide a compelling reason for requesting a tax penalty abatement, such as a death in your immediate family, long-term unemployment or significant property damage or loss due to a natural disaster. You can request a tax penalty abatement by writing a letter explaining your circumstances, by requesting an in-person interview with a tax professional or by filing IRS Form 843Claim for Refund and Request for Abatement. You only get one opportunity at an IRS tax penalty abatement, so, you better do it right.

Currently Not Collectible Status a/k/a Financial Hardship

If you simply cannot pay what you owe to the IRS, you may request that your account is placed in Currently Not Collectible or Financial Hardship status. You will need to provide detailed financial information through a Form 433A Collection Information Statement for Wage Earners and Self-Employed Individuals. If your request is granted, you will still owe taxes to the IRS, but collection efforts will be temporarily halted.Your circumstances will be re-evaluated under certain conditions and your stay of the collection could be lifted. If you owe less than $10,000, this is “the way to go”. If you owe more than $10,000, you should be looking for an Offer in Compromise settlement.

Waiting Out the Statute of Limitations

Depending on your circumstances, you may be able to wait out your tax obligations and have back tax debt wiped from your record. The statute of limitations for federal income taxes is generally ten years unless fraud is involved. But calculating the statute of limitations can be tricky. The clock does not begin to run until taxes are assessed by the IRS, and the clock stops temporarily if you file bankruptcy or if you file a dispute or a lawsuit against the IRS. If you intend to take this strategy, you must consult with an experienced IRS Tax Attorney to obtain accurate dates and other essential information.

The Best IRS Help

IRS Problem Solvers

FLAT FEE TAX SERVICE, INC. 

Good People – Doing Great Work

FREE AND CONFIDENTIAL TAX CONSULTATION:  1-800-589-3078

http://www.flatfeetaxservice.us

https://www.facebook.com/thebestirshelp

Getting Offer in Compromise Help

The Offer in Compromise can be a life-saving form of tax resolution for those who truly need it. On average people who settle their debt using an Offer-in-Compromise end up paying less than 20% of the actual amount they owed to the IRS.

Approved by Congress to aid taxpayers, an IRS settlement through the Offer in Compromise program can be the ultimate solution for resolving your tax debt problem as it can result in significant savings.

In some cases, your financial situation may make it nearly impossible for you to pay off all your tax debt, even when utilizing tax resolution over the long term via an installment plan. In such situations, the IRS may be willing to accept an Offer in Compromise” and significantly lower your tax bill.

95% OF FLAT FEE TAX SERVICE, INC.’S CLIENTS WHO SUBMITTED AN OFFER IN COMPROMISE HAVE BEEN APPROVED.

PER IRS STATISTICS FOR 2016: 42% OF ALL OFFER IN COMPROMISE SUBMISSIONS WERE APPROVED.

Here is how an IRS Offer in Compromise works:

  • Both you and the IRS acknowledge that there is no feasible way for you to pay off all your tax debt. This means that you do not have enough income to pay off your tax debt and do not have enough valuable assets that the IRS could seize.
  • You submit an Offer in Compromise to pay the IRS the maximum amount that you can afford even though that amount may fall far short of your actual tax debt.
  • If the IRS accepts that the amount of your Offer in Compromise to pay is the most that it could reasonably expect to collect from you, the IRS will agree to compromise and essentially lower your tax debt to match the amount you can pay
  • Once you have finished paying the agreed upon amount of tax debt, your tax debt is considered paid in full.This is true even if the agreed-upon Offer in Compromise is only a small percentage of what you originally owed

Getting Help with Offer In Compromise

The acceptance rate on all Offer in Compromise submissions is fairly low due to errors or omissions on submissions. In order to have a better chance of approval, one should utilize an experienced IRS Tax Attorney for this complex process. Our highly qualified, trained and experienced staff will work very hard to see if this is the best solution for your IRS tax debt. A tax debt can be legally compromised for one of the following reasons:

  • Doubt as to Liability – Doubt exists that the assessed tax is correct.
  • Doubt as to Collectibility – Doubt exists that the taxpayer could ever pay the full amount of tax owed.
  • Effective Tax Administration – There is no doubt the tax is correct and could be collected but an exceptional circumstance exists that allows the IRS to consider a taxpayer’s OIC.

Regardless of the reason, to be eligible for an Offer in Compromise the taxpayer must demonstrate that collection of the tax would create an economic hardship or would be unfair and inequitable.

For the best chances of successfully negotiating an offer in compromise, you’ll want a professional with a successful track record on your side. Flat Fee Tax Service, Inc.’s expert tax attorneys are highly experienced in preparing, submitting and settling IRS settlement cases. Call our team today and find out what your options are and what can be done for you.

FLAT FEE TAX SERVICE, INC.

Good People – Doing Great Work

1-800-589-3089

http://www.flatfeetaxservice.us

https://www.facebook.com/thebestirshelp

 

IRS Garnishment – Stop IRS Garnishment Today

STOP IRS GARNISHMENT

Can you afford to have the IRS enforce an IRS garnishment against you? Can live on 50% of your paycheck? Who can? When the IRS has failed to collect back taxes, they will begin to seize assets by enforcing an IRS garnishment. The IRS garnishment process is called a “levy”. The IRS is legally allowed to seize your bank accounts, demand payment from accounts receivable, take control of the property for auction, and assume title on vehicles. Virtually anything of value can be seized to satisfy your outstanding tax debt.

FLAT FEE TAX SERVICE, INC. WILL STOP AN IRS GARNISHMENT IN ONE DAY.

IRS garnishments on your wages/paycheck are another form of the tax levy, though the seizure of assets from your paycheck is an ongoing process. An “ongoing process” means that unless the IRS garnishment is stopped and released, the levy will continue until your entire tax debt is paid in full. If the levy on your wages is removed through tax resolution, the IRS garnishment will be stopped.

Since an IRS garnishment functions as a basic form of a forced, involuntary installment plan, they can sometimes be removed through tax resolution by setting up a regular and approved installment plan. Besides removing the burden from your employer and giving you the power to handle the payments yourself, an installment plan can often be set up with payments that are considerably less than the wage garnishment amounts. That is why this form of tax resolution is very common.

Tax Levies and IRS garnishments can be the most stressful and humiliating of all collection tactics. They do this to force taxpayers into willful compliance. The IRS Tax Attorneys at Flat Fee Tax Service, Inc. can release your wages from an IRS garnishment in one day.

Flat Fee Tax Service, Inc. is the leader in having an IRS garnishment stopped and released. Our Tax Lawyers have been successful in getting levies lifted and IRS garnishments stopped in a timely manner. We know your rights as a taxpayer and we are here to save your paychecks.

FLAT FEE TAX SERVICE, INC.

STOP YOUR IRS GARNISHMENT TODAY

1-800-589-3078

http://www.flatfeetaxservice.us

https://www.facebook.com/thebestirshelp

 

IRS Settlement in Pompano Beach, FL

OUR TEAM HAS DONE IT AGAIN!

Fernando M. from Pompano Beach came to us as a referral from a very satisfied former client. Fernando needed 7 tax returns to be prepared and filed before our Tax Lawyers could work on his IRS settlement. Our team prepared his non-filed tax returns immediately as we needed to have Fernando compliant with the IRS.

Today, we can announce this: The IRS has accepted Fernando’s settlement. Fernando will pay the IRS $2,000 to settle $63,000 of tax debt. This is fantastic news!

Fernando needed a Fresh Start and our successful Offer in Compromise settlement is providing that.

Great job by “the best IRS Help” team in America.

https://www.facebook.com/thebestirshelp