IRS Tax Settlements

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 IRS Negotiated Tax Settlements: The Steps To Settle Your Tax Debt

Did you know that you can settle your debt with the IRS for less than you owe them with their Offer in Compromise program?

This program allows taxpayers to settle with the IRS on tax debt that has been
1) incorrectly assessed or
2) for liabilities they cannot afford to pay.

The IRS Code states: “We will accept an Offer in Compromise when it is unlikely that we can collect the full amount owed and the amount you offer reasonably reflects the collection potential…” (Internal Revenue Code section 7122).

Many times, (but not always) it is possible to completely eliminate all of the taxes you owe – including all penalties and interest – at a huge discount. There is no preset bottom limit that the IRS will accept to settle your debt especially if your offer is done “right.”  Ultimately, the IRS does not look at how much you “owe”. It is simply looking at “how much you earn” and “how much in assets you own”. If done correctly, it may be possible to settle your for only 5-15% of what you presently owe. BEWARE!!! There are many national companies promising settlement of your tax debt for “PENNIES ON THE DOLLAR”!! To make a blanket statement such as this without knowing any of the circumstances of your situation, is reckless at best, and malpractice at its worst.

Can you imagine your doctor walking into your examination room and start writing a prescription, without having any type of examination or asking you any questions???  The IRS has a set procedure established with guidelines and regulations that specify how a deal has to be structured for it to be accepted. I know exactly what the IRS is looking for and what an acceptable offer would be.  If an offer is submitted that isn’t done according to their guidelines, it will be IMMEDIATELY REJECTED!!! Many of these companies are accepting clients whose financial circumstances are such that their offers were never viable or acceptable from the beginning!!! Yet they are still out thousands of $$$$’s in fees.

Call us today at (713) 726-1603 for your FREE consultation about your Unfiled Tax Returns. Don’t let your unfiled tax returns keep you up at night. Call Today!