Common questions related to tax issues
I received a letter from the IRS, what should I do?
Contact us right away. The worst thing you can do is wait. Requests from the IRS and other taxing authorities have timelines for replies.
What is an Offer in Compromise?
An Offer in Compromise (OIC) is essentially an agreement whereby the IRS agrees to accept less than what they are owed from a taxpaper.
Am I qualified for an Offer in Compromise?
Let us help determine that. There are specific IRS standards regarding eligibility for an Offer in Compromise including ratios of Income vs Expenses and assets that may be available for liquidation. Contact us for more information.
I can fill out a few forms, can't I just do this on my own?
According to a recent report from the National Taxpayer Advocate, almost one quarter of all OICs submitted were rejected because they were filled out incorrectly, and of those offer applications that were accepted for processing, almost half were later rejected. Working with a tax professional can make a big difference when preparing an Offer in Compromise.
This sounds great, but how much will it cost?
For starters, our initial consultation is free. After that, our fees vary according to the services we provide. Until you retain us, you have no obligation whatsoever. We have various payment plans available to help out clients solve their problems. We can discuss your particular situation during your free consutation. Contact us to schedule today.
Why does the IRS want to settle?
The IRS, like any other bill collector realizes that there are many circumstances where no matter how hard they try (and they will try!) they will not be able to get everything they are owed. This helps you the taxpayer and the IRS. You can close this chapter of your life and move on to be a good citizen and they get part of money owed to them and can put their attention towards pursuing other debts they have a chance of collecting.
What do I do if I don't have any money to pay the IRS?
One of Tax Relief, Inc. tax specialists will advise you during your free consultation to the best path to take to solve your tax problem.
How can the IRS collect money from me or my company?
The IRS has a collection staff of about 18,000 and are currently adding to the total. They can file a federal tax lien against all your assets; levy your bank accounts and/or wages; seize your home, investments, retirement, cars, business, or anything of value and dispose of them through an auction sale.
How long will the process take?
Some steps, such as stopping levies and seizures may happen relatively quickly. However, the entire process of an Offer in Comprimise can take several months to over a year or more.
Where are you located and will I need to come to your office?
Tax Relief, Inc. serves clients from across the nation. Most, if not all, of our work, can be handled over the phone, Internet, and mail. If you are coming to our office for any reason, please click here for direcrtions.
What if I have more questions?
Don't worry, we have more answers. We are happy to discuss your questions, concerns and the pariculars of your case during our free consultation. Contact us today.
The problem will not go away on its own.
Contact us today for a free, no-obligation consultation.