Offer in compromise
An Offer in Compromise (OIC) is an out of court agreement between a taxpayer and the IRS to resolve a tax debt. It is a nice option for those who qualify because it allows the taxpayer to settle their tax debt for less than what is owed. Not everyone qualifies for an Offer in Compromise so it is really important that you work with a qualified tax professional that can help you determine if your situation qualifies for this program.
When you cannot afford to pay your tax debt immediately, we can help you negotiate an Installment Agreement with the IRS. This type of payment plan option is good those who cannot afford a lump sum payment to cover their tax debt.
Currently Not Collectible
If you account is placed into a Currently Not Collectible status, that means that you are protected from collection efforts by the IRS and your account is removed from an active collection status. Obviously there are strict guidelines governing a Currently not Collectible status. We can help you determine if you qualify for this status so that the IRS will not pursue collection on your account as long as your financial situation does not change.
Penalty and Interest
When you fail to pay your taxes on time, you can incur very heavy penalties and interest. For many people, the penalties and interest can add so much to the tax debt that it makes it very difficult to resolve tax debt. If you are in this situation, contact us immediately. We have experience representing clients before the IRS to show reasonable cause and have the penalties and interest waived. It is possible to have penalties and interest removed.
Back Taxes Filed
Whether you failed to file your taxes because your records were incomplete or you didn’t have the money to pay at the time. We can help you resolve back tax issues, file your back taxes and work with the IRS to resolve the outstanding tax debt on your behalf. When you work with a trusted CPA, you can rest assured that we will do all we can to minimize your back tax debt and any penalties associated with your failure to file your back taxes. The IRS will not work with you until you get you get up to date on your back taxes. The first step to tax debt relief is to get your back taxes filed and current. Once we help you do this, there are options like an Offer in Compromise or Installment Agreement available to help you get tax debt relief.
Don’t be intimidated by a notice from the IRS that says you are being audited. When you are faced with an audit by the IRS you may not know where to turn or what to do. As experienced CPA Tax Specialists, we have the skills and expertise to deal with the IRS on your behalf. We understand their rules and are experts in negotiating the lowest possible debt settlement allowed by law.