We are comprised of tax attorneys, certified public accountants, and former IRS agents who know the system.
We have over 206 years professional tax experience and over 60 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the IRS.
We know the system inside and out and you can rest assure that we can settle for the lowest amount possible.
The average settlement is $6500.
The Internal Revenue Service has just completely modified their Debt Forgiveness Program which is called the “Offer in Compromise”.
Last year about 78,000 Offers in Compromise were submitted to the IRS and about 41% of the Offers in Compromise filed were accepted by the IRS.
The largest group of those accepted were filed by a professional tax firm.
The IRS has realized that taxpayers will never pay their tax debt off if there is no hope. With penalties and interest running faster than the speed of sound, IRS finally figured out it is far better to settle right now.
The new plan offered by the IRS for debt forgiveness is call the Fresh Start Program.
Having former IRS agents review your case gives you the greatest advantage to settle your case for your IRS debt forgiveness.
We know all the IRS tax policies and their internal settlement policies.
Our firm is composed of Board Certified Tax Attorneys, CPA’s and Former IRS agents, managers and instructors.
What is an Offer in Compromise?
An Offer in Compromise ( Tax Debt Forgiveness ) is the way the IRS forgives tax debt for taxpayers that have balances due to the IRS.
An Offer in Compromise allows you to settle your tax debt for less than the full amount you owe to the IRS. It may be a legitimate option if you cannot pay your full tax liability, or in doing so creates a financial hardship.
IRS will consider your unique set of facts and circumstances when determining settlements for IRS debt forgiveness.
IRS mains areas of concentration for tax debt settlements are based on your:
1. Ability to pay,
2. Present Income and Expenses,
3. Equity in Assets.
IRS will conduct a thorough detailed review on all income and assets.
The Offer in Compromise program is not for everyone.
You need to make sure you are eligible to file an Offer in Compromise before filing. We offer a free tax consultation on your case before the contemplation of an Offer in Compromise.
Before IRS can consider your offer, you must be current with all tax return filings and current in withholding and estimate tax payments.
You may not file an Offer in Compromise and apply for IRS tax debt forgiveness if you are in an open bankruptcy proceeding.
How to submit your offer.
Forms necessary for IRS Tax Debt Forgiveness
1. Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms;
2. Form 656(s) – individual and business tax debt (Corporation – LLC – Partnership) must be submitted on a separate Form 656;
3. $150 application fee (non-refundable); and
Initial payment (non-refundable) for each Form 656.
Ways to pay the IRS for an Offer in Compromise.
Your initial payment will vary based on your offer and the payment option you choose:
1. Lump Sum Cash: Submit an initial payment of 20 percent of the total offer amount with your application. Wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.
2. Periodic Payment: Submit your initial payment with your application. Continue to pay the remaining balance in monthly installments while the IRS considers your offer. If accepted, continue to pay monthly until it is paid in full.
If you meet the Low Income Certification guidelines, you do not have to send the application fee or the initial payment and you will not need to make monthly installments during the evaluation of your offer. See your application package for details.
Understand the process
While your offer is being evaluated:
a. Your non-refundable payments and fees will be applied to the tax liability,
b. A Notice of Federal Tax Lien may be filed,
c. Other collection activities can be suspended,
d. The legal tax assessment and collection period is extended for the time your case was in offer status,
e. You must make all required payments associated with your offer,
f. You are not required to make payments on an existing installment agreement and,
g. The good news, your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.