It was never known in history before that several people owe a huge of amount of tax to the Internal Revenue Service of the government. These people need help badly and are willing to pay any amount just to get this trouble out of their hands. Offer in Compromise, Innocent or Injured Spouse Defense, Collection Appeal, Installment Agreement and Collection due Process are just among the few instruments that can be utilized by the CPA, Tax Attorney and Enrolled Agent to help in settling the liabilities of the clients.
An Offer in Compromise is an agreement that is made between the taxpayer and the Internal Revenue Service that is able to settle the tax payer's liabilities for less than the full amount that he owed. Even if this is the most attractive instrument, it still has its negative and positive effects. If you are planning on having the amount of tax that you have to pay discounted, it is very possible for you to gain that but in return you would have to disclose all the information about all of your assets to the Internal Revenue Service. Always remember that the IRS machine is at work and is always monitoring your taxes. Make sure to inform your client in cases where the offer that you submitted will be rejected.
Overall, it is apparent that only 20% of the total offers that are made for Offer in Compromise are being accepted by the Internal Revenue Service and this may be a big disadvantage for you. What are you going to do to belong into the 20% of offers that the IRS is accepting? There is a tax resolution software logic that can help you with this by providing you with an analysis to your problem, a diagnoses to the problem as well, and it is also able to evaluate if the client has a chance of belonging in the 20% of offers that are being accepted together with the form that is going to be filled up by the client.
According to a survey done recently, most representatives still prepare Offer in Compromise together with the other resolution cases manually which means that they are still doing it only with their brains, calculators, and pencils. It will take a lot of time and effort for you to be able to back up your case so that you will be relieved of your obligations while being able to provide with all the necessary documents. It is better for you to use the tax resolution software to help you process your documents quicker and obtain results immediately.
Consider giving tax resolution crm irslogics, or canopy tax services a try, if you want to have a more convenient time handling your taxes. Additionally, do make sure that you give this post a read too, .