How a tax attorney may be able to help you with an IRS offer in compromise. When you begin to run into a tax problem with the IRS or New York (New York State offer in compromise program), such as owing back taxes, all of a sudden it’s like you are hearing a whole new language when it comes to your tax financial situation. You begin to hear terms like offer in compromise, IRS debt settlements, as well as tax liens and levies. These are all distressing. Then added to this once you receive your assessment of taxes owed, it seems to be a non-stop barrage of telephone calls and notices of payment due.
Something that may tweak your attention when it comes to finding a tax solution may be an IRS offer in compromise. If you have had meetings or conversations with IRS tax collectors and you have special circumstances where it’s unlikely that you can meet your tax obligation, they may have mentioned the possibility of an offer in compromise. It is not something that is negotiated easily. You may just assume because you are in tough financial times that the Internal Revenue Service will be happy with whatever they can get, but that is not a common approach of theirs. Their mandate is to get the full amount owed on your taxes plus any fines and interest that they have levied.
The circumstances that will usually get the tax authority to consider a solution such as an offer in compromise is if they have doubts that you will ever be in a position to pay the full amount that you owe. Then there may be reasonable doubt that the amount you have been assessed as owing is really factual. There could have been errors made by the tax department, or you have been able to show further proof that you do not owe the amount as stated. On the rare occasion there may be extenuating circumstances present. In this circumstance it would have to be clear that by enforcing payment owed it would create a great deal of suffering and hardship for the tax payer.
At first glance these various types of potential opportunities to have your tax debt forgiven or greatly reduced does not look all that difficult to go after. However, if it were that easy then there would be a lot more people who were able to rely on this solution, and that is not the case. You may be thoroughly convinced that you meet the criteria for one or maybe two of these options, but the problem comes with proving that you truly are a candidate for an offer in compromise. The IRS is not going to be forthcoming with all the detailed information that you are going to need to be able to prove your case. After all their goal is to get tax collected in full. If you have any inkling at all that you may qualify for this type of tax forgiving opportunity then the best thing you can do is seek out a qualified tax attorney who specializes in offers in compromise. These experts can save you time, money and refusal by the tax department. To begin with an attorney that specialize in tax cases know all of the criteria that a delinquent tax payer has to comply with in order to qualify. These professionals after reviewing your case will be able to tell you whether you stand a chance. The next thing they can assist you with is advising you as to what type of documentation and proof you need to make your case successful. There are probably things that you did not realize that could help you. Once these two steps are taken then leaving your tax problem in the hands of the offer in compromise negotiator gives you an excellent chance of making your case.
Naturally if you are not able to pay your tax bill it’s probably because you are in financial hardship and are concerned about incurring greater costs by using the services of a tax professional. What you have to realize is that when you compare the small cost of these services to the surmounting interest and penalties connected to your tax debt you are going to be much further ahead financially. Plus there is the comfort of knowing that you will no longer have to deal with the numerous contacts by the IRS any further.
The following article may be helpful.
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Our New York tax law firm offices are located in New York State but we are able to help you in any state across the country. We can work with you no matter where you live. Mr. Hart is licensed to deal with the IRS in every state in the entire country.