It Sounded so good... Getting your IRS tax debt settled for a lesser amount, also known as an Offer in Compromise is the most difficult process to deal with an IRS debt. If only 2% of all applicants actually get approved then why do so many people try to get a tax settlement?
Too good in fact... It does sound like the perfect solution to a serious problem. If the commercials on TV are to be believed you can settle a $100,000 tax debt for $5,000. Also those same companies you see on TV "guarantee" that you'll get an Offer in Compromise. What they don't tell you is how difficult the process is.
Waiting and waiting... An IRS tax debt settlement can take a while to go through the IRS system. In fact it can take up to a year or more while the IRS reviews your case before they make a determination. That's a long time to hold your breath and hoping for the best.
As a former IRS-Hitman I can tell you that the hope of getting your debt settled for "pennies on the dollar" is holding onto false hope.
The disappointing truth... But you tried to get an Offer in Compromise and the IRS came back to you after a year, only to tell you that your tax settlement has been denied and you still owe the full amount of your tax debt. Oh, and by the way...during the year that your case was pending your debt was getting interest and penalties added on. So now your debt is even higher than when you started. What can you do now? You know you can't pay off this full debt, but the IRS thinks you can, and when an IRS-Hitman believes you can pay there's no way to change his mind.
Your next step... You can appeal the IRS's decision, but if they already denied you once, you really don't have much of a leg to stand on in an appeal process.
Did you try to work with the IRS on your own, or did you hire a tax professional to negotiate with the IRS on your behalf? If you didn't use a tax professional you may consider hiring one if you intend to appeal.
Don't give up... But what if you've tried all that and the IRS is still telling you that you can not settle your tax debt for a lesser amount. Well, there are other options...but you're going to have to pay off the full debt amount. The key is to work with the IRS to come up with a solution, and not wait for the IRS to decide on a solution for you!
Because when the IRS decides for you they will start aggressive collection action. What is aggressive collection action? Wage levies, bank levies, seizure of property, and credit liens.
Now you have the smoking gun...Use it!
Richard Close was an IRS-Hitman. He was a revenue officer who took out anyone that owed the IRS money. He left that behind and now helps thousands of Americans beat Uncle Sam and save thousands of dollars. The IRS-Hitman can help you with your tax debt problems. He has partnered with Tax Defense Network to offer free advice and tips to get you tax debt settled one and for all with the IRS. Visit at: http://www.irs-tax-settlement-hq.com Contact: http://www.taxdefensenetwork.com or call 1-888-248-9058
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