Fresh Start and Offer in Compromise (OIC)

Wednesday, November 18, 2015

The Strategic Tax Lawyers, LLP who are IRS Fresh Start Initiative and Offer in Compromise (OIC) experts assist many of their clients who may be financially burdened or struggling to resolve their tax liability to the IRS. The IRS has programs such as the Offer in Compromise (OIC) offers means for taxpayers with a large tax debt with a way to settle that tax debt.  The OIC process allows for a compromise or way for taxpayers who are unable to meet their debt obligation to work on a payment system for that debt.  Many times, the payback amount is significantly less than what is originally owed to the IRS, which depends on need and financial status. This is a great option for taxpayers who are unable to afford to pay part or their entire tax bill.


The Fresh Start Initiative includes OIC and Notices of Federal Tax Liens. There are also certain processes and guidelines to qualify for an OIC.  The amount a taxpayer offers as a compromise needs to be based on a tax records and income which the IRS will assess.  The IRS can accept the offer or deny it if they deem that the taxpayer can afford to pay more than what was offered.  To qualify for an OIC, you can get legal assistance from the Strategic Tax Lawyers. They recommend getting current with tax returns status in order to submit the tax payments.  If the OIC is approved, the taxpayer can request a payment plan option.   Experts recommend visiting the IRS website to see if you qualify for an OIC using the Pre-Qualifier tool to determine eligibility.  Those who want to apply for an OIC will need to pay a fee of $186. The Strategic Tax Lawyers can assist with the process.


If you need to go through a mediation process for post-appeals of OIC, the Strategic Tax Lawyers represent you to resolve those tax disputes or unsuccessful negotiations with the IRS.  Mediation is legally available to you if you choose to appeal.  Tax attorneys can assist with mediation if there is an agreement that could be reached with the IRS.  OIC lawyers and experts, such as the Strategic Tax Lawyers do want you to know that the mediation process may not necessarily result in a positive settlement decision.  However, they may still be able to assist you since there are options for payment installation agreements to reduce financial strain.   


If you or someone you has a tax debt that needs to be resolved, you may be eligible for an Offer in Compromise. You will want the Strategic Tax Lawyers, LLP who are IRS tax attorney in Los Angeles on your side. The Strategic Tax Lawyers are Offer in Compromise and IRS Fresh Start experts.  Contact the Strategic Tax Lawyers, LLP for a free consultation at (800) 669-4775.