We often get asked the question, “I owe the IRS $55,000 plus penalties and interest in back taxes but I think I can handle this myself. Is there any reason why I shouldn’t deal with the IRS on my own?“
One of the worst things you can do is talk to the IRS directly without proper representation. You would not go to court without a lawyer, would you? We do not recommend facing the IRS alone either as you will get crushed. When it comes to the IRS you are guilty until proven innocent. The IRS is not on your side and their primary goal is to aggressively collect by whatever means possible when they think you have their money.
However, one of the collection alternatives available to you is the Offer in Compromise Program. An Offer in Compromise (“OIC”) is a formal binding agreement between you and the IRS that permanently settles your tax liability for less than the full amount owed. Many times, for a lot less than what is owed. It is a formulaic driven process where the IRS looks at your current financial situation to determine what you can afford to pay.
As CPA’s who are also tax resolution specialists we can evaluate your case first to see if you qualify for this program. We know how to navigate the IRS maze because we do this for a living, day-in, day-out. We know the “ins” and “outs” and know how to deal with the IRS so your rights, and your income and assets, are protected. We are experts in obtaining the lowest possible settlement allowed by law, if you are qualified, in the most expeditious fashion possible. Call us today to see if you qualify for an offer in compromise or one of the other many alternatives the IRS offers. We at Jim Matthews CPA are experts in IRS tax problem resolution and help taxpayers with their IRS Problems every day. There is a solution to EVERY problem. Call us today!