The Offer-in-Compromise program is one of the most popular programs used by both tax practitioners and taxpayers when considering a way to resolve IRS back tax problems. An Offer-in-Compromise allows qualifying taxpayers to settle their back taxes for less than…
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In May of 2012, the IRS expanded its Fresh Start Initiative with the goal of making it easier for delinquent taxpayers to reach an Offer in Compromise (OIC) and repay tax debt. IRS Fresh Start The IRS indicated it was…
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The IRS Offer in Compromise program allows qualified taxpayers an opportunity to settle their back tax debt for less than what is owed. When you submit an Offer in Compromise you are agreeing to comply with certain terms and conditions.…
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We recently submitted an Offer in compromise for a Boca Raton taxpayer and were able to settle his back taxes of $165,000 for only $13,200, a savings of 92%. (more…)
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In my blog of February 17, 2014 I discussed the case of a West Palm Beach couple who prepared and submitted an offer in compromise that was rejected by the IRS. They offered $2,000 on an outstanding balance of $40,000;…
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I recently met with a married couple from West Palm Beach that prepared and submitted an offer in compromise in an attempt to settle their IRS back taxes. Unfortunately, the IRS rejected their tax settlement offer and they decided to…
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We just received notification from the IRS that a Doubt as to Liability Offer in Compromise ("DATL") we submitted on behalf of our client earlier this year was accepted resulting in a savings of approximately $225,000. If you qualify the…
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Some days, it seems like you can’t listen to the radio, watch television, or use the internet without coming across an advertisement for a company that promises to settle your tax debt for next to nothing. These ads are usually…
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An offer in compromise is an agreement between you and the Internal Revenue Service (IRS) that settles a tax debt for less than the full amount owed. The program provides eligible taxpayers with a path toward paying off their tax…
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Collection Financial Standards are used to help determine a taxpayer's ability to pay a delinquent tax liability when negotiating an Offer in Compromise and Installment agreement. Allowable living expenses include those expenses that meet the necessary expense test. The necessary…
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