Offer in Compromise

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Offer in Compromise

During the analysis phase of your tax resolution case, your tax consultant covers quite a bit ground in a relatively short period of time. With that in mind, here is a brief overview of the most frequently negotiated programs on behalf of our clients.

Federal/State Tax Investigation

Often times, your tax specialist will recommend a Federal and/or State Tax Investigation prior to presenting you with a complete resolution program. This is an invaluable tool used when faced with an uncertainty surrounding your tax history. We have the ability to obtain all your records, transcripts and supporting documents going back 10- years. Essentially, this gives us a blueprint on how to construct the most advantageous resolution program on your behalf.

Federal/State Tax Preparation

Whether you’re a W-2 employee, self- employed, or business owner, our Tax Return Specialist can prepare current year or any previously unfiled tax returns on behalf of our clients. Please note: all required tax returns must be filed prior to any resolution program can be negotiated.

Installment Agreement (IA)

There are various types of installment agreements available to taxpayers. Several factors go into successfully negotiating our clients into an Installment Agreement such as income, amount of liability and terms, just to name a few. We explore all Installment Agreements you qualify for and negotiate terms that put our client’s best interests ahead of the tax agencies.

Currently Non Collectible Status (CNC)

This has vastly become one of our more utilized resolution programs in light of the economic landscape of our country. This program is set aside for those individuals and/or families that are experiencing an extreme economic hardship. Once we successfully negotiate you into this program, all payments and collection efforts are suspended for a term of 2 years. Please note, there are very strict terms and conditions associated with this resolution. Your tax specialist will review these in detail when recommending this resolution.

Penalty Abatement

If the IRS is consistent with one thing, they are consistent with the amount of penalties, fees and interest charged to the principal balance of your tax liabilities. Under certain guidelines and restrictions, we can motion for a penalty abatement which could reduce your penalty and fees up to 40%. Please consult your tax consultant to see if you qualify.

Wage Garnishments and Bank Levy Holds

Wage Garnishments and/or a bank levies are arguably the cruelest collection method utilized by both Federal and State Agencies. ITS staff members are sensitive to the negative impact these methods can have on a family and make them our number one priority. We can motion for an immediate Garnishment and Levy hold in order to negotiate a successful resolution to your tax liabilities. With most bank levies, the withheld funds can be back into your account within 72 hours of the date the funds were withdrawn. Consult your Tax Specialist for the details of this program.

Ideal Tax Solution Representation

Ideal Tax Solution has the experience and knowledge to handle the most serious of tax audits. Our expert Tax Attorneys and Enrolled Agents will negotiate with the IRS on your behalf and ensure that your taxpayer rights are protected and that the IRS auditor is playing on a level field. Call us today to discuss how we can develop a strategy that will allow you to address the audit and resolve it with better than acceptable results.

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