Question 1

Can I really settle my tax debt for less than I owe?

Accepted Answer

Yes, through the IRS Offer in Compromise program, you can legally settle your tax debt for a fraction of what you owe. The IRS accepts about 26% of these applications when properly prepared and submitted.The key is demonstrating that you cannot pay the full amount without creating financial hardship. We analyze your income, expenses, assets, and future earning potential to determine the lowest acceptable offer. Many of our clients settle debts of $50,000 or more for less than $5,000.However, you must be current on all filing requirements and meet specific eligibility criteria. This isn't a program for everyone, but when you qualify, the savings can be life-changing.

Question 2

How quickly can you stop IRS collection actions against me?

Accepted Answer

We can typically halt most IRS collection activities within 24-48 hours of taking your case. Once we file the proper representation paperwork, the IRS must deal directly with us instead of contacting you.This immediately stops harassing phone calls and threatening letters. If you're facing an imminent wage garnishment or bank levy, we can often get emergency relief even faster. We've stopped garnishments on the same day clients called us.The protection remains in place throughout the entire resolution process. You won't have to deal with IRS collectors again until your case is completely resolved. This gives you peace of mind to focus on your daily life while we handle the negotiations.

Question 3

What if I haven't filed tax returns for several years?

Accepted Answer

Unfiled tax returns are actually one of the most common problems we solve. The IRS requires you to be current on all filings before they'll consider any payment arrangements or settlement offers.We prepare and file all missing returns as quickly as possible. Often, you'll owe less than you think because you're entitled to deductions and credits you weren't claiming. Sometimes clients who feared owing tens of thousands actually get refunds.Once all returns are filed, we can pursue the full range of resolution options. The key is acting quickly before the IRS files substitute returns on your behalf, which never include deductions that could reduce your liability.

Question 4

Will tax resolution hurt my credit score?

Accepted Answer

Tax resolution actually helps your credit in the long run. While the original tax debt may have already impacted your credit through liens or other collection actions, resolving the debt stops further damage.Tax liens can be removed from your credit report once the underlying debt is resolved through payment or settlement. This often results in an immediate credit score improvement of 50-100 points or more.More importantly, resolving your tax debt frees up monthly cash flow that you can use to pay down other debts and rebuild your credit. Many clients see dramatic credit improvements within 6-12 months of resolving their tax problems.

Question 5

How much do your tax resolution services cost?

Accepted Answer

Our fees vary based on the complexity of your case and the amount of work required. We provide transparent, upfront pricing with no hidden costs or surprise bills later.Most clients pay a fraction of what they save through our negotiations. For example, if we settle a $40,000 debt for $4,000, our fee represents tremendous value compared to the alternative of paying the full amount plus ongoing penalties and interest.We offer flexible payment plans to make our services accessible even when money is tight. Many clients use their tax refunds or savings from stopped collection actions to cover our fees. The investment pays for itself many times over.

Question 6

What happens if the IRS rejects my settlement offer?

Accepted Answer

If your initial Offer in Compromise is rejected, we don't give up. We analyze the rejection reasons and can often address the IRS concerns through additional documentation or by modifying the offer terms.You also have the right to appeal any rejection to the IRS Independent Office of Appeals. We handle this entire process and have successfully overturned many initial rejections on appeal.Even if an Offer in Compromise isn't approved, we have other resolution options available. These include installment agreements, Currently Not Collectible status, or penalty abatements. We keep working until we find a solution that works for your specific situation.

Tax Resolution Dingmans Ferry, PA