Offer in Compromise for $50.00 on $13,444.76 in debt

SITUATION:

A Client called in with a total liability of about $14K, client was in an installment agreement when he enrolled in the program. The reason the client owed the IRS was due to a mistake on claiming when he wasn’t entitled to.

The total amount of tax debt which was being collected on, after the investigation was completed was determined to be $13,444.76.

INVESTIGATION PHASE:

An immediate stay of enforcement was requested and granted to put a stay to expanded enforcement measures. Master tax files were pulled as well as tax transcripts. The client’s financials were gathered and organized into the proper forms. Bank statements, letters, correspondence, and other pertinent information were reviewed and analyzed.

The tax professional reviewed the client’s financial position, transcripts, history, her unique situation, and recommended that the best possible option, based on the client’s financial situation, would be an Offer In Compromise of $50.00 to resolve the IRS tax debt. It was recommended that the client pursue an Offer in Compromise because of his inability to pay the balance or make payments on the tax account

RESOLUTION PHASE:

The tax professional contacted the IRS to apply for the OIC. It took 4 months for the OIC to be set up and approved by the IRS. Our tax professional received a call from the IRS agent on April 3rd approving the offer!

OIC was applied for and accepted with the IRS as follows:

Total amount owed: $13,444.76
Resolution: Offer In Compromise
One time Payment: $50.00
Phases worked: Investigation and Resolution

More Tax Debt Relief Issues & Solutions.

DISCLAIMER:

This example is an actual example of a client who enrolled in the tax program. Every case is unique and this is not an extension that you will receive the same resolution as they will. Your situation is unique, as are all tax cases. The team has extensive experience, has former IRS employees, special officers, enrolled agents, tax attorney, and CPA’s. Our tax team will work diligently with a flat fee to solve the tax issue you have for the best possible resolution for you. That means doing all possible to ensure you pay the lowest amount of taxes legally required based on your situation, allowable deductions, finances, and other factors.

 

Summary
Review Date
Reviewed Item
IRS Offer In Compromise
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