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Tax Relief Services
  » Settling Back Taxes
Back taxes can be a real anchor to your financial freedom. If not handled properly you may feel like you are on a treadmill or tax trap with no way out. Fortunately, there is help.
Through an "Offer in Compromise" people just like you can settle tax debts for pennies on the dollar. IRS statistics reflect that on average, offer in compromise settlements result in taxpayers paying thirteen cents on the dollar to settle IRS tax debts. Although an Offer in Compromise is the most frequently used method of settling IRS tax debts, there are other methods as well.
An offer in compromise is normally considered only after other payment options have been exhausted. Other payment options may include monthly installment agreements, penalty abatement, or filing amended returns to correct errors in previously submitted returns.
If you are unable to pay your taxes in full or would like to explore the various options, contact one of our Tax Consultants. We will discuss your case with you and present some options to consider.
  » Offer in Compromise
This program was developed by Congress to help collect large amounts of outstanding tax in a relatively short period of time. Their assumption was to offer taxpayers a one-time opportunity to eliminate their debt for a fraction of what was originally owed, thus closing millions of costly collection cases.
While the program has been and continues to be modified, it remains the most effective means for both taxpayer and IRS to bring permanent resolution. An offer in compromise is an agreement between a taxpayer and the IRS that resolves the taxpayer's tax debt. The IRS has the authority to settle, or "compromise," federal tax liabilities by accepting less than full payment under certain circumstances.
Our staff of professionals has years of experience and know the intricacies of the program. Because we use the same formulas and guidelines as the IRS, we are able to assess the lowest possible amount the IRS will accept before it is submitted, thus eliminating the guesswork and worry.
When you call, your assigned tax strategist will walk you through the procedure, answering any questions and providing a free, accurate assessment of your case. We have a much higher success rate because we do not look at each case as a “cookie-cutter” case – but instead take the time to look at the individual facts and circumstances of your unique situation.
  » Penalty Abatement
Besides the Offer in Compromise, there is another, very effective program for reduction of an outstanding tax debt. If there were circumstances beyond your control that prevented you from paying your tax debt and led to delinquency, we can challenge the penalties and interest that have built up and negotiate them down.
Relief from penalties falls into four separate categories. They are:
Reasonable Cause
Mistake made by the taxpayer, ignorance of law, death, serious illness, unavoidable absence.
Statutory Exceptions
Simple or complex legislative tax code changes.
Administrative Waivers
Undue hardship, fire, flood, natural disaster, bad legal/tax advice.
Correction of Service Error
Mistake made by the IRS. Source IRS.
Because relief from accrued penalties and interest is based more on stated representations rather than financial hardship, terms for a successful penalty abatement are very specific. More so than any other, this program involves a great deal of skill to successfully navigate the IRS protocol and bring resolution.
If applied for correctly and effectively, results are substantial; savings are usually thousands of dollars for the average taxpayer.
Our staff of tax professionals has years of experience and know the secrets of this program. When you call, your personal tax strategist will cover the intricate details of a penalty abatement, accurately explaining why you would or wouldn't be a candidate for this relief.
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