Case 4: Offer in Compromise for $50.00 on $13,444.76 in debt

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

SITUATION:

A person was interested in our tax debt program because he owed $13,444.76 to the IRS. He was needing help because he thought that his tax returns for the years of 2013, 2014 and 2015 were filed incorrectly. He explained to us that he claimed his kids as dependents and thought that his ex-wife had previously claimed them as well.

INVESTIGATION PHASE:

Our tax team got in touch with the IRS and began the investigation. The tax years that the client mentioned were filed correctly and the dependents information was correct. This amount owed in taxes included penalties and interest. The case was not yet assigned to an IRS agent which meant more time for the client to get this resolved. We also learned that there was no threat for a lien, levy or wage garnishment. A new discovery was that the client was already in a payment plan with the IRS. The problem was that the when our enrolled agent reviewed his income information, we discovered that he could not afford the monthly payment that the IRS put him on. Our tax team suggested that we submit an Offer In Compromise on his behalf. The recommended offer was to pay the IRS $50 and the rest of the debt would be forgiven.

RESOLUTION PHASE:

Our tax team gathered all of the supporting documents to prove the client’s financial hardship. Once we had all the paperwork in, it was submitted to the IRS along with the Offer in Compromise application. It was assigned to an IRS case manager who reached out to us a couple of times to confirm some information. Finally, the IRS case manager approved the Offer in Compromise application. The client was very happy to learn that his tax liability was resolved with only $50.00.

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

Total amount owed: $13,444.76
Resolution: Offer In Compromise
Settled Amount: $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.

 

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