IRS Offer in Compromise Tax Settlement help by a Tax Attorney

Get Offer in Compromise help from a CPA, Tax Attorney or Enrolled Agent at Nationwide Tax resolution Group and put your IRS Problems behind you. Call (800) 632-1750 and we will evaluate whether or not you qualify for an IRS Tax Settlement

Offer in Compromise

An Offer in Compromise is the attempt to settle your IRS tax debt for an amount which is less than actually owed. A successful Offer in Compromise will depend on a few factors. Your ability to pay and your likelihood of being able to pay in the future are taken into consideration by the IRS. Contact us now for IRS tax settlement help.

Generally speaking, your chances of being approved for a tax settlement are increased tenfold by retaining the services of an experienced tax professional. A very large portion of the Tax Offer in Compromise applications are rejected based poor proper procedure. This includes providing the correct documentation in a timely fashion among other things.

Tax Settlement

The IRS is going to take a number of factors into consideration when determining whether to accept or reject your Offer in Compromise. They will take into consideration the value of your assets. Depending on the value of your assets, they may expect you to sell some of them to increase the amount you can pay. It may also depend on the amount of your income and the likelihood of increased future income. If you earn over $100,000, it’s unlikely the IRS will accept a tax Offer in Compromise from you because you have an ability to pay. The amount of the offer may have to be adjusted based on your income level.

An individual who has recently suffered a drastic decrease of income, has little value in assets and who has little probability of increased future income would be the most successful tax Offer in Compromise candidate.

IRS Offer in Compromise

Most people would like to be approved for a tax settlement and pay the IRS ten cents on the dollar and have their tax debt magically wiped away. You will see that same advertisement on television 20 times per day. Sometimes, this is an option for you but most of the time it is not. What most people do not realize that an Offer in Compromise only works in special situations.

Unfortunately, many companies are not up front with you about this and you only find this out after they have $4,000.00 of your money and they give you an excuse for why things did not work out after the fact. We would strongly advise you to check out any of these companies with the Better Business Bureau. Often times you will find that these companies are "F" rated and have hundreds and hundreds of formally filed complaints. It is unfortunate and alarming that some of the largest companies in the industry have the worst reputation. Don’t allow them to scam you too.

IRS Tax Settlement

Give us a call and we will be more than happy to give you a free consultation so that we can educate you about the benefits of a Tax Offer in Compromise. We will determine if you are a good candidate for an Offer in Compromise and advise you of what course of action will be of the best benefit to YOU and not what will make the most money for a sales person at one of our competing firms. At Nationwide Tax Group, we are not going to advise you to do a tax settlement unless there is a realistic chance for you to benefit from it.

A Tax Offer in Compromise can allow you to get rid of your tax debt for a fraction of what you owe. Most of our clients have neglected to file tax returns for a number of  years. They either were not aware that they had to file or could not afford to pay the debt and decided not to file one year. They decided not to file the following years for fear of the IRS catching up to them. The tax and penalties multiply and soon you find yourself in a situation where you owe the IRS 100,000. Depending on your financial situation, you may not be able to pay the debt within a reasonable amount of time. This is a situation that could be a good fit for an Offer in Compromise. There are other factors which come in to play which is why it is imperative that you speak with a professional who can explain things to you in plain English and determine the best course of action for your particular situation.

IRS Tax offer in compromise Alternatives

As mentioned, some people will not have their Offer in Compromise accepted. Your alternative is to have a tax professional negotiate with the IRS to reduce the IRS debt as much as possible and negotiate a favorable installment agreement. Depending on the amount owed, the complexity of an installment agreement will increase. Once we perform our initial analysis to determine if you qualify for an IRS Offer in Compromise settlement, we can advise you on the best course of action from that point.

Additional Tax Topics

IRS Levies: An IRS tax settlement is one way to avoid an IRS levy. Once the IRS has accepted your Offer in Compromise, you have eliminated the need to worry about an IRS levy for that tax debt.

IRS Lien: IRS liens will have a negative effect on your credit and the ability to sell or refinance the property which it has been placed on. If you find yourself in such a situation, contact us to hear about how an IRS Offer in Compromise may help you along with the other options available to you.

IRS Back Taxes: Owing back taxes can put you into such a deep hole that you can't tell which way is up. Coordinating the preparation and filing of your back taxes with a tax settlement can be extremely confusing. The IRS will reject any IRS Offer in Compromise if all of your taxes have not been properly prepared and filed with the correct departments within the IRS.

Review Help: An IRS audit often leads to an increased tax debt along with interest and penalties. We can properly defend you in the face of an IRS audit and then determine if an IRS tax settlement is even necessary. It’s possible to reduce your tax debt by so much that it makes the filing of an Offer in Compromise unnecessary.

Call Nationwide Tax Group at (800) 632-1750

Your decision to hire someone to assist you with your IRS issue should not be taken without consideration and you shouldn't necessarily go with the organization that's closest to your home. You should research any company you might be thinking of with the BBB and look on the internet to see if the company has a negative complaint background. We are proud to say we don't and that is due to Nationwide Tax Group’s attention to detail and very best personalized customer support which you will not see anywhere else.

Nationwide Tax Group is located in Southern Florida. Many people question our associates on how we're able to help taxpayers with their issues when we're in a different state. The clear-cut answer is that an IRS issue is a Federal tax challenge and it would not make a difference wherever we are located. Were a client is located, we can still assist you no matter what. We can even resolve an exam, State tax preparation, a levy, and so forth.

Despite the fact that our firm may just have a single location in Florida, we are able to help taxpayers throughout all 50 States. Get started right now. Give us a call and Nationwide Tax Group will walk you through the methods of settling the IRS problems.