|
Offer In Compromise
HAS ANYBODY DISCUSSED THIS BEFORE HERE ON SJ?
Settle IRS bill for much less
An offer in compromise (OFFER IN COMPROMISE) is an agreement between a taxpayer and the Internal Revenue Service (IRS) that resolves the taxpayer's tax liability. The IRS has the authority to settle, or compromise, federal tax liabilities by accepting less than full payment under certain circumstances. IRS has been known to settle tax bills for as little as 5 cents on the dollar. However, most offers in compromise submitted to the IRS are rejected due to improper planning and taxpayer's frequent misconceptions. MyOfferInCompromise allows you to settle your delinquent taxes, penalties and interest with this step by step software system. MyOfferInCompromise reviews your specific situation and determines how much the IRS will accept from you and how to improve your chances. The system then prepares a signature- ready Offer in Compromise package for the IRS.
Save thousands on legal fees
A tax attorney, CPA or enrolled agent will charge you over $2,500 to prepare and submit an offer in compromise.
MyOfferInCompromise is not a substitute for experienced and ethical tax advice. But that is exactly the problem! Most offer in compromise tax advice is neither experienced nor ethical. There is so much deception and fraud surrounding the offer in compromise that the IRS is now warning consumers about hiring certain "compromise mills".
MyOfferInCompromise System is a Win-Win Solution!
If you want to do it yourself - MyOfferInCompromise will greatly improve your chances for success or will objectively and honestly recommend another course of action. You don't have to read a bunch of books or fill out a ton of forms and worksheets. Just follow our step by step interactive wizard to resolve your tax problem.
If you want to hire a professional - run your situation through MyOfferInCompromise Wizard and review the results. Then call a professional. If you got a good tax pro, his analysis of your Offer In Compromise should be pretty close to MyOfferInCompromise's results. However, you will also be able to catch shady sales pitches by comparing MyOfferInCompromise results to the promises being made to you. You will be an educated client. Either way, you will probably save money.
Beat the IRS at its own game
Regardless of the recent media coverage about the Kinder and Gentler IRS, the IRS is extremely reluctant to accept Offers in Compromise.
In determining the amount that the IRS could collect from you, the IRS uses a formula called Reasonable Collection Potential to arrive at a minimum acceptable offer amount. In determining the Reasonable Collection Potential the IRS looks at the following two factors: Your Realizable Value of your assets, and your Future Income. If your situation does not fall into the IRS's range, your offer will be rejected. However, MyOfferInCompromise will evaluate your Reasonable Collection Potential to help you plan and navigate your IRS settlement. You will be alerted to some of IRS' most common tricks and traps.
Know exactly what the IRS will think of your offer before you even send it in
It is absolutely vital that you know how much to offer and how to present your case to the IRS before you send in your offer. Submit an offer that is outside the IRS' formula and your offer is doomed. MyOfferInCompromise will evaluate your situation and help you plan and navigate your IRS settlement. Our system will help you avoid errors that are often committed by taxpayers and even tax professionals.
Avoid getting ripped off by false promises from shady tax firms
You see the advertisements in newspapers, on TV, and on the Internet. You hear them on the radio. You get fliers in the mail. You may even get calls from telemarketers offering to settle your taxes for "Pennies on the Dollar". They all make the same claims:
"IRS problem? No problem!"
"We can wipe out your tax bill for just pennies."
"Never worry about the IRS again."
If tax settlements are that easy, why is the IRS rejecting most offers in compromise even if they are submitted by so called experts. Do yourself a favor and save some money, too. Don't believe these statements. Most of the time you are talking to a commissioned sale rep, not a tax professional. If you get ripped off, you will have virtually no recourse and the IRS will not feel sorry for you either. There is so much deception and fraud surrounding the offer in compromise that the IRS is now warning consumers about hiring certain "compromise mills".
Stop being victimized by the IRS' settlement game
Publicizing the new tax settlement program with the same fervor and intensity it once used to spread intimidation, the IRS is giving delinquent taxpayer a false impression that there is a wide spread "Tax Amnesty" sweeping the nation. Euphoric taxpayers are rushing to take advantage of the settlement program only to have their hopes dashed by unsympathetic IRS personnel. In fact, the IRS's hyped "tax amnesty" program is becoming the new epicenter for taxpayer misinformation. However, with just a few minor adjustments to tax debtors' strategies, a much greater number of settlement offers would have been successful. With the help of MyOfferInCompromise system more tax debtors will be able to execute their tax strategies while achieving more favorable results. Furthermore, other tax debtors who do not qualify for the settlement program, will be able to use MyOfferInCompromise system to determine their eligibility, without wasting months of effort and thousands of dollars on professional fees.
Protect your home and paycheck
Generally, unless you have an agreement with the IRS regarding your tax liability, the IRS may attempt to collect the balance at any time (after sending the taxpayer certain legally required notices).
However, The IRS will withhold collection activities while they consider the offer. The IRS will not act to collect the tax liability:
While the IRS investigates and evaluates the offer;
For 30 days after the IRS rejects the offer;
While the offer rejection is being appealed.
The IRS will not withhold collection if the IRS finds any indication that the offer was submitted to delay collection or to jeopardize the IRS's ability to collect the tax.
The IRS might also file a federal tax lien at any time during the offer to protect its interests.
Get your finances back on track
With your tax problems resolved, you will be able to concentrate on rebuilding your credit, investing or buying a home. You will be able to put money into the bank without worrying if the IRS will take the funds without warning. You will be able to answer the phone and open your mail box without the fear of another IRS collection call or letter ruining your day.
Stop living in fear of the IRS
IRS collectors are known for their scare tactics and powerful collection methods. The faster you deal with you tax bill, the better of you will be.
With your tax problems resolved, you will be able to concentrate on rebuilding your credit, investing or buying a home. You will be able to put money into the bank without worrying if the IRS will take the funds without warning. You will be able to answer the phone and open your mail box without the fear of another IRS collection call or letter ruining your day.
|
