Tuesday, March 1, 2016

ADVANCE TAX RELIEF LLC - IRS FRESH START INITIATIVE? HOW DOES IT WORK? (www.advancetaxrelief.com (800)790-8574)

An offer in compromise can put IRS troubles behind you and bring a fresh start on your taxes.

But the road to a fresh start with the IRS is not necessarily as simple as it may sound.

The IRS has very strict criteria that they use to determine if a tax debt should be compromised.

Before jumping in with a compromise, there is much you need to know about the IRS settlement process, including:

–     Whether you should even file an offer in compromise.  For example, if the IRS has a limited time left to collect your debt (out of the 10 year period they are given by law), should you jump in or remain on the sidelines?  Sometimes, it is better to hold ’em, but you need to know when.

–     How to use the internal IRS criteria to negotiate the best settlement.  It is important to know the IRS offer in compromise valuation formula before jumping in.  Do you make too much to settle?  What if you spend too much and the IRS wants you to cut your budget so you can pay them more?  The IRS has specific formulas that are used in valuing a compromise that should be reviewed and applied to your situation before jumping in.


– How to complete the IRS financial statements and compromise forms. For example, the IRS guidelines permit you to reduce the value of your cars and house by 20% on the financial statements, effectively lowering the value of your compromise by 20%. Proper completion of the forms can result in significant savings in settlement. – Your rights to dispute an IRS rejection of an offer in compromise. Maybe they think your home is worth more than it is. Or aren’t allowing you necessary living expenses. Or think you earn more than you do or will in the fixture. Either way, any IRS compromise decision is subject to an independent review by the IRS Office of Appeals. Many offers that are initially turned down are ultimately accepted by appeals. Success with an offer in compromise is based on knowing the IRS’s settlement guidelines, understanding how to apply those rules to your situation, and responding if the IRS does not properly follow and implement them.
ADVANCE TAX RELIEF LLC 
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Have tax problems? Call (800)790-8574
Testimonial: 
"My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL.
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ADVANCE TAX RELIEF is not a Traditional CPA or Law Firm.
 We are a Professional Tax Organization.