Professional Services

Tax Settlements

Outstanding tax balances can arise from failure to pay past due taxes, inability to pay tax on current return, or from an adjustment to tax liabilities resulting from a tax examination (tax audit).

Settlements can be made for:

  • Income taxes
  • Business taxes
  • Payroll taxes including trust fund recovery tax liability

The Client Needs:

  • Someone to properly evaluate the alternatives for settling the tax liability with the programs tax law allows.
  • Negotiate with and demonstrate to the IRS that the client qualifies for the settlement program best suited for the client.

Settlement Services We Offer Our Clients:

Settlements are necessary when our clients are unable to pay their tax liabilities in full. The following are the options available that we offer our clients:

  • Offer in Compromise: An offer in compromise ("OIC") is an agreement between the taxpayer and the IRS that settles a tax liability for payment of less than the full amount owed. This should be sought only by taxpayers who do not have the assets (including equity in your home and amounts that can be withdrawn or distributed from a retirement plan) and/or income to fully pay your tax liability. The IRS only accepts a fraction of offers submitted. For qualified clients we use our expertise and knowledge of IRS policy and procedures to ensure success. In fact we reduce our fees if we are not successful. Click here to begin the process of preparing an OIC.
  • Installment Payment Agreement: An installment payment agreement allows a taxpayer to pay the full tax liability but in monthly installments. Negotiating an installment agreement that the taxpayer is financially able to comply with is often very challenging and typically requires substantial knowledge regarding tax law and IRS guidelines and regulations. Click here to begin the process of applying for an installment agreement.
  • Innocent Spouse Relief: Under this program a spouse can be relieved of joint tax liability (including interest and penalties) where the spouse signs a return without knowledge of the unreported income of the other spouse or without knowledge of the legality of certain tax deductions claimed by the other spouse. This provision is complex and confusing even to tax professionals so taxpayers should certainly seek professional advice prior to applying for this program. Click here to begin the process of applying for spousal relief.
  • Bankruptcy. In certain situations your past due tax liability can be eliminated through bankruptcy. Call us for details.
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