Written by Scott Allen

Phoenix’s Tax Debt Advisors—IRS Offer in Compromise (OIC) Details

If there is no way you could ever pay off the IRS during the remaining statute of limitation period, the IRS will allow, under certain conditions, a settlement for less than you owe.  The IRS knows they have to be careful to not encourage taxpayers that file and full pay on time each year to try to pay less by not paying and filing an Offer in Compromise in Phoenix AZ.  Our experience has been that taxpayers who file and full pay each year are much better off in their personal lives than those who qualify for an OIC. Phoenix AZ Offer in Compromise candidates have had some pretty amazing challenges that got them into trouble with the IRS.  It just isn’t a tax protest mentality that qualified them—if that were the case the IRS would reject flat out an Offer in Compromise Phoenix AZ application.

The IRS will consider your OIC if there is doubt they can collect the full amount, or there is some doubt as to the amount owed, or it would impose an unusually difficult hardship on the Phoenix AZ taxpayer.  Offers are usually granted to individuals or couples but they also can be filed by Corporations, Partnerships and Not for Profit Corporations.

If you are serious about filing an OIC and getting acceptance, you need professional assistance.  Scott Allen E.A. has the experience to advise you on your OIC amount, paperwork and follow-up with the OIC group.  Tax Debt Advisors offers a free consultation and can be reached for an appointment by calling 480-926-9300.

info@taxdebtadvisors.com

Written by Scott Allen

Tax Debt Advisors, Inc. cautions you on the “Pennies on the Dollar” IRS Advertisements

Although it is rare to hear or read about “Pennies on the Dollar” settlements with the IRS anymore, they still exist.  The reason is that phrase was used by predators taking money and advantage of vulnerable Mesa AZ taxpayers looking for an escape from their IRS tax debt.  Another reason is that most of these predator companies are out of business.  The few that still lure unsuspecting taxpayers in Mesa AZ with pennies on the dollar promises are employees of these defunct companies still trying to take advantage of taxpayers.  If you received a phone call from a company not in your area—out of state—you are best to hang up and find someone local who has been in business for a significant time and who you can meet with face to face.

Scott Allen E.A. of Tax Debt Advisors, Inc. offers a free face to face consultation about all of your IRS settlement options.

info@taxdebtadvisors.com

Written by Scott Allen

Arizona’s Tax Debt Advisors—Why are most IRS Offer in Compromise (OIC) Rejected?

Let’s just state the facts frankly.  Almost every taxpayer and most tax advisors are not competent and/or knowledgeable about the OIC filing requirements and the follow through needed to get an OIC accepted.  Many proper OIC applications are rejected because the IRS loses information or reassigns OIC cases to new agents and the hand off is not communicated properly.  The IRS is a huge bureaucracy that needs professional outside assistance to keep their attention on cases that will qualify for acceptance.

Consider Scott Allen E.A. of Tax Debt Advisors as your Arizona professional to file and monitor your OIC through the IRS maze.  Tax Debt Advisors in Arizona will not take your case unless it is in your best interest.  Tax Debt Advisors offers a free initial consultation and can be reached at 480-926-9300 for an appointment.  Call today for an appointment and find out why they have settled over 105,000 tax debts since 1977.

info@taxdebtadvisors.com

Written by Scott Allen

Suggestions for Happy Living Despite Having an IRS Problem, Part 3

  • Happiness is a state of the spirit and an attitude of the mind.—David O. McKay
  • A truly happy person is one who can enjoy the scenery on a detour.—Anonymous
  • As you are getting ready for the day, practice smiling in the mirror.
  • Set a goal of consciously smiling at people you don’t know during the day.
  • Write the name of someone who makes you happy on a piece of paper and put it in your pocket.  Refer to it during the day and always smile when you think of that person.
There are several options available to settle your Chandler AZ IRS tax debt.  Each IRS settlement options for Chandler AZ taxpayers has pros and cons—something good about it as wells as something not so good.  However, one is always better that the rest and is usually quite obvious once the facts have been presented to you without prejudice towards any one IRS debt solution.  That is why Tax Debt Advisors should be your choice when confronted with a serious Chandler AZ IRS problem.  We offer a free consultation.

Scott Allen E.A. has witnessed the success of his family’s IRS resolution practice near Chandler Arizona first hand and is carrying on the tradition to the second generation.  Tax Debt Advisors has been helping individuals like you with IRS tax problems since 1977.  Scott is licensed to represent you before the IRS in all 50 states.  He will only take your case if it is in your best interest.  That is why our family business is going on its 37th year.  Scott Allen E.A. promises straight answers and follow through service and guarantees the most aggressive Arizona tax preparation and IRS settlement allowed by law.

info@taxdebtadvisors.com

Written by Scott Allen

Tax Debt Advisors help—What is an Offer in Compromise?

An Offer in Compromise (OIC) is an offer to pay less than what you owe to the IRS and receive a complete settlement of all past tax debts, including interest and penalties.  The OIC program is only one of several ways to settle your Tempe AZ tax debt for less than what you owe.  IRS Form 656 and Form 433-A are the OIC accepted forms for individuals.  IRS Form 433-A Worksheet calculates the amount that needs to be offered.  The terms and conditions of the OIC include filing and paying on time your taxes for the next five years.  If you cannot file your individual tax return (1040) by April 15, you must request an automatic extension and file and full pay by the extension deadline.  The IRS approves only a small percentage of the offers submitted.  In 2004 only 16% of the OIC’s were accepted.  In 2010 the percentage was 24%.

It is a big mistake to file an OIC unless you are fairly certain you will have acceptance.  Interest and penalties continue to accrue as well as the statute of limitations.  If it takes the IRS 2 years to reject you OIC, you will come out of the process in much worse shape than when you submitted your OIC.

Tax Debt Advisors is next doors to Tempe AZ and has the experience to properly calculate and submit an OIC with a high degree of success.  Tax Debt Advisors has been assisting clients on Tempe AZ IRS problems for over 37 years.

info@taxdebtadvisors.com

Written by Scott Allen

We are Mesa Arizona’s Top IRS Problem Solvers for Offers in Compromise—General Information

Here is some general information the IRS Offer in Compromise.  Beyond the basics you are best to consult with a local IRS resolution expert in Arizona.  If you truly cannot afford to pay back the taxes owed, including the interest and penalties, you may be a candidate to apply for an Offer in Compromise.  This IRS settlement option allows you to settle your entire debt for a lesser amount.  This can be done by making short monthly payments or one lump sum.

An Offer in compromise has an advantage over filing a bankruptcy because payroll taxes cannot be eliminated by filing a bankruptcy.  Once your offer has been accepted and you have paid in full the agreed amount, the IRS will remove all tax liens.  The amount that is considered acceptable by the IRS is based on your ability to pay.  Financial statements with proof of all of your personal and business expenses will have to be provided along with bank statements.

Many potential Mesa AZ Offer in Compromise clients qualify for an Offer but the amount considered acceptable to the IRS is more than the taxpayer can pay.  To determine if you are a viable Offer candidate, contact Scott Allen E.A. of Tax Debt Advisors, Inc.

info@taxdebtadvisors.com

Written by Scott Allen

We are Mesa Arizona’s Top IRS Problem Solvers for Payroll Tax Debt

Payroll taxes are not dischargeable in a bankruptcy and therefore need to be resolved with some other IRS settlement option.  A monthly payment plan will require you to pay the principle, interest and penalties in full or until the statute of limitations runs out which will be 10 years from the date of assessment of the IRS tax debt.  If your monthly payment is very small or the statute of limitations is about to expire or you qualify for a currently not collectible status you may want to selection one of these options versus an IRS Offer in Compromise.  The Offer program may be the best option if none of the above apply to you.

The Offer program is a lengthy process that will require you to stay in compliance during and after you have been approved and made the required payment.  Few taxpayers understand the process and how to keep their Offer from being disallowed.  Scott Allen E.A. in Mesa AZ provides a free initial consultation and can walk you through all the steps needed to select the right settlement option.  You can reach Scott Allen E.A. at 480-926-9300.

info@taxdebtadvisors.com

Written by Scott Allen

Biggest Challenge of Filing a Chandler AZ Offer in Compromise (OIC)

There is good news and bad news about the IRS OIC program.  Good news—everyone in Chandler AZ qualifies for an OIC.  Bad news—very few Chandler Arizona taxpayers can afford to pay the OIC amount.  There is also some Very Bad news—many times the OIC amount is more than the tax owed.

So when it comes to qualifying for an OIC, don’t be discouraged thinking you have missed out on the best option.  The Good news is that most of the time the best option is not an OIC.  That is why you need a trusted Arizona professional who knows all the options and is working for your best interest not theirs and that includes theirs (the IRS).  Scott Allen E.A. of Tax Debt Advisors, Inc. has the experience and is worthy of your trust.  Tax Debt Advisors, Inc. has been helping taxpayers for over 37 years—since 1977.  If you desire a free initial consultation, call 480-926-9300.  Scott Allen E.A. will make that day a great day for you!

tax attorney mesa az

Written by Scott Allen

We are Mesa Arizona’s Top IRS Problem Solvers for Offer in Compromise—Big Warning !

Let’s start out with a big warning. Very few taxpayers qualify to do an IRS Offer in Compromise. Most cannot afford the amount of the Offer the IRS will accept. If you are told by a IRS resolution professional that you qualify for an Offer in Compromise get a second opinion. This is especially true if you are talking with an out of state company that often make promises they cannot keep. Get your second opinion locally here in Arizona. You will probably find out that you do not qualify for the Offer amount you were first told and you will likely feel better about using a local company as well.
Scott Allen E.A. of Mesa AZ is the right choice to get your correct determination if you qualify for an Offer and the amount you would qualify for. Often the Offer in Compromise option is not the best settlement option. Before you leap into a commitment financially, call Scott Allen E.A. at 480-926-9300 and schedule a free initial consultation. You will quickly know you have made the right decision during your first appointment.

info@taxdebtadvisors.com

Written by Scott Allen

Is the IRS Still Accepting Offers in Compromise?

Yes, but…  The bad news is that over the last two decades the numbers of offers being accepted has been in decline.  The good news is that a higher percentage of offers applied for are being accepted.  Why?  Many tax payers and companies representing tax payers filed offers that were outside of the rules.  Most of the companies filing frivolous offers have gone out of business and left their clients stranded and in much deeper trouble with the IRS.  Avoid companies outside of your area that you cannot meet face to face.  They make promises they cannot keep.  Avoid being taken because they tell you what you want to hear.  The following is an action list that must be kept to get acceptance of your offer:
  • Make sure you can file and pay on time.  This means having enough withholdings if you are an employee or making estimated tax payments.  Prepare your return in February to give you time to come up with any amount due by April 15 and avoid filing extensions.  All past returns must be filed to be included in the offer.
  • Consider using a Mesa AZ tax professional to help you through the paperwork maze.  Even small errors will cost you big time—by having your offer rejected or having the IRS counter your offer with a much higher amount to pay.  The IRS will require proof of all expense tems included in your financial statements.
  • Consider all of your settlement options before filing an Offer.  Many times the best settlement option is not an Offer.  This is another reason to have a tax professional in Mesa AZ on your side.
  • When the IRS requests additional information, respond promptly.  Any delay will increase the chances that your offer will be rejected, lost or transferred to another IRS employee.
Tax Debt Advisors, Inc of Mesa Arizona offers a free initial consultation to discuss your potential Offer in Compromise or other tax matters.

info@taxdebtadvisors.com

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