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Tax Negotiation Services

There are many avenues for settling debt with the IRS, but they certainly don't make it easy. The longer you wait, the more you'll owe the IRS in penalties. Therefore, it's best to pursue tax negotiation services as soon as possible.  We're a team of experienced tax professionals committed to helping you get the most favorable solution for your tax situation. 

Tax Negotiation Services

If you owe money to the IRS on the tax deadline, then they begin the collection process with a notice to pay the balance in full. They impose the Failure-to-Pay penalty immediately. Consequently, interest on the overdue tax debt begins to accrue.

The tax debt compounds as each day passes, making a payment-in-full increasingly difficult to achieve. Many taxpayers feel discouraged and disheartened as their balance grows.

The IRS offers many programs to select taxpayers who qualify for tax relief. However, their eternal objective is to obtain as much of the total, including penalties and interest, as possible from the taxpayer.

They commonly reduce debt to a total that’s fair and affordable for most taxpayers as a result of our successful negotiations.

Our tax relief professionals are skillful in these negotiations, as our acquaintance with IRS procedures is an important asset.

Negotiating a Lower Balance

Several years ago, ads touting tax settlements for “pennies on the dollar” seemed to be everywhere.

What they didn’t advertise is that although these settlements are possible for a select few taxpayers who meet the strict qualifications of this particular settlement, the vast majority of delinquent taxpayers don't receive this level of relief.

Today, these bold and misleading ads are far and few between. However, options for repayment at a lower balance may be available in the right circumstances. This tax settlement program is called an Offer in Compromise. You can certainly count on our trusted tax relief services to guide you down the right path to a favorable resolution for your case.

The IRS is likely to approve an Offer in Compromise if there is “doubt as to liability,” “doubt as to collectability,” or an “effective tax administration."

Doubt as to liability specifies that the IRS acknowledges that the assessed tax amount is incorrect.

Doubt as to collectability indicates that the taxpayer is unable to pay the full debt. In addition, the taxpayer will probably be unable to do so at any time within his or her lifetime.

An approval for this reason is most common. An effective tax administration approval recognizes that the tax assessed is accurate, although collecting on it would be an injustice.

Elderly taxpayers, as well as those with disabilities are often approved for this reason.

The framing of an offer in compromise should certainly acknowledge one of these approval categories. It must also be supported with documentation that verifies the taxpayer’s claims.

Taxpayers’ negotiations with the IRS rarely result in an approval of an offer in compromise, especially without the help of a reputable tax relief professional.

Negotiating a Payment Plan With The IRS

It’s much more common for the IRS to approve a request for an installment agreement.

The IRS requests information regarding your income, assets, and expenses. This includes such income streams as partnerships, gambling, oil credits, rent subsidies, and agricultural subsidies.

The taxpayer or their representative completes Form 433-F with this information and then files it with the IRS. The revenue agent will then use it to determine the taxpayer’s ability to satisfy the debt.

This information is also used to help the revenue agent decide which payment arrangement he or she will demand from the taxpayer.

 

This may be one of the following:

Short-term installment agreement

A short-term installment agreement is for debt that totals less than $10,000. Full payment is due within 120 days because of the relatively low liability level.

Individual installment agreement

This installment agreement extends the payment term from 120 days to 72 months and is more appropriate for debt over $10,000.

Small business agreement

This installment agreement is particularly designed for small businesses with debt less than $25.000.

Undue hardship extension

This payment arrangement is only appropriate for taxpayers who are unable to afford the above payment plans without extraordinary action, such as selling a piece of property.

Professional Tax Negotiation Services

Our negotiations with the IRS certainly aren't limited to payment agreements or decreasing debt. Other negotiation occasions include:

Bank Levies
• Wage garnishments
• Tax Liens
• Penalty Abatements
Trust Fund Recovery Penalties

At Tax Champions, we’ve been negotiating terms for agreements with the IRS for over 35 years. Our clients never need to speak to the IRS. Our professional staff will handle all direct communications while keeping you abreast of our progress. As a result, you can just sit back and relax while we take care of everything. We specialize in getting our clients back into compliance with the IRS, while immediately halting their continued collection efforts.

Above all, we’re proficient in protecting your over-all financial well-being.

Give us a call today for your free consultation. You can also send us your contact information in the blue box on the right side of this page; one of our qualified professionals will reach out to you.

With no obligation to hire our firm, our free consultation will outline your best options and what needs to be done next in your best interest.

Our A+ rating at the Better Business Bureau, with no complaints, is certainly a testament to our consistent client satisfaction. We'll provide you with the same level of trusted tax relief services.

If you determine that our firm is a good fit for your needs, we’ll get started immediately to protect you from further collection efforts and begin the resolution of your matter.

We’re ready to get started. Call or click today.

Sources

[1] IRS Explains How Offer in Compromise Works. (2019, March 7). Retrieved from //www.irs.gov/newsroom/irs-explains-how-offer-in-compromise-works

[2] Levy. (2019, February 20). Retrieved from //www.irs.gov/businesses/small-businesses-self-employed/levy

[3] Employment Taxes and the Trust Fund Recovery Penalty TFRP. (2019, March 2). Retrieved from //www.irs.gov/businesses/small-businesses-self-employed/employment-taxes-and-the-trust-fund-recovery-penalty-tfrp

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Walter Wotman, CPA

Founder & Managing Partner

Walter Wotman, CPA is the author of "Tax Champions Guide to Tax Resolution." Amazon #1 Best Seller in the Personal Finance category. He is one of America's most experienced tax negotiators with over 35 years of experience helping thousands of clients settle difficult back tax issues.

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