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IRS Tax Settlement, Offer in Compromise. Heres what to do first
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www.irsproblemshouston.com IRS Tax Settlement is can be done with IRS payment plans, tax negotiation, and Offers in Compromise. Heres what to do first. IRS tax settlements usually come into play in one of two situations: 1.When a taxpayer owes money to the IRS that they cannot pay in full immediatelyor 2. When the IRS claims a taxpayer owes money and the taxpayer disagrees. As a CPA with almost 30 years of experience settling IRS tax debts I can tell you from experience, there are three steps in successfully settling a tax debt: 1.Assessing your tax situation 2.Devising an IRS strategy 3.Making the IRS tax settlement deal Assessing Your Tax Situation The first step in a successful tax settlement is to properly assess your situation. If you have received several notices from the IRS, pull them out and review them. Is the IRS clear on what they are trying to collect for? Next get a copy of the tax return involved. Check it to get a handle on if you really owe the tax. Sometimes taxpayers make mistakes on their tax returns and really owe the money. But almost as frequently, many times the mistake is made by the IRS and not the taxpayer. I remember an interesting study done by the Government Accounting Office several years ago. The governments own accountants studied a sample of IRS notices and found an alarming percentage either contained errors; or attempted to collect penalties and interest that were not owed. Of course if you are working with an inexperienced tax advisor ...
(Client’s IRS tax debt of $20,000 was settled for $500)
Thank you for all your hard work in helping us... With the settlement concerning the IRS. It is a wonderful feeling knowing that instead of $20,000 we are able to settle with them for $500. I will highly recommend you to anyone who has tax issues that need to be taken care of.
