Offer in Compromise

An Offer in Compromise is defined as a negotiated settlement between a taxpayer and the IRS. It allows the taxpayer who's fallen behind on his or her taxes to settle for an amount less-than-what-is-owed. And while it sounds simple and straight-forward enough, you may want to strongly consider getting the services of a BBB-Rated tax relief professional tax specialist or tax attorney on your side to assist you with your IRS offer in compromise. Tax relief specialists have a strong understanding of IRS tax codes and how to best apply tax relief solutions and remedies to assist taxpayers.

Florida Tax Relief can connect you to a tax relief specialist to help ensure that yourOffer in Compromiseor other IRS tax matter is handled properly. This can not only help you breathe easier, but possibly save you thousands of dollars as well.

To get your free tax relief consultation today, begin online now.

Know Your Legal Rights and Options

There are three main reasons why the IRS may accept an Offer in Compromise.

• Doubt as to Collectibility - this is when the IRS believes, based on a taxpayer's financial condition, that the taxpayer lacks the financial wherewithal presently and moving forward to meet the full payment of tax debt due, -- within the remaining statutory period of time (10-years). It should be stated, however, that absent special circumstances, an Offer in Compromise will be rejected if the IRS believes the taxpayer can pay the full amount - either in a lump sum or through installment agreements.
• Doubt as to Liability - this situation occurs when the IRS is unsure as to the accuracy of the taxpayer's assessed tax amount. This can occur for a variety of reasons including the following:
• Failure of the tax officer to clearly demonstrate that he or she had a clear understanding of the tax law at that time, and whether or not the interpretation of that law was correct.
• Failure to consider or interpret evidence belonging to the taxpayer
• New information and evidence from the taxpayer-side is supplied creating new facts and circumstances.
• Effective Tax Administration or Exceptional Circumstances - this occurs when there is no doubt that taxes levied and due, are correct. The IRS considers what's known as an "exceptional circumstance", a condition that permits the agency to consider an Offer in Compromise. It should be noted that an OIC will not be considered an option, unless the amount offered by the taxpayer is equal to or greater than the "reasonable collection potential" (RCP). The REP is a formula or methodology used by the IRS to gage a taxpayer's ability to pay. This level of measurement can include any value that can be realized from other taxpayer assets, including: real estate, vehicles, and bank accounts.

In order to qualify for Effective Tax Administration, a taxpayer must demonstrate that collection of the tax would create an economic hardship, or could be considered "unfair" or "inequitable" to the taxpayer.

If you're undergoing or about to undergo IRS scrutiny for any tax related issue and are thinking about an Offer in Compromise, it is recommended that you strongly consider taking advantage of the experience and expertise of a BBB-A-Rated tax relief specialist who understands your rights and options and how to apply current tax laws and code to assist in your circumstances.

To get your free tax relief consultation today, begin online now.

If you're under IRS scrutiny for any of the following, Florida Tax Relief can connect you now to tax relief specialists who can help with:

• IRS Back Taxes
• IRS Collection Notices
• IRS Audit Notice
• 941 Business Tax or Payroll Tax
• Unpaid Business Tax
• Wage Levy
• IRS Wage Garnishment
• IRS Bank Levy
• IRS Tax Lien
• Innocent Spouse
• Injured Spouse
• Other/Personal Tax Problems

IRS collection efforts are based on existing Federal Laws which are in place to protect all parties, including the taxpayers! Insure that you have the most effective legal representation you need.

Make the most of any Offer in Compromise you may qualify for. Be certain remedies for your tax

Get your free tax debt relief consultation today from a BBB-A-Rated tax relief specialist.