Question 1

How much can an Offer in Compromise reduce my tax debt in Hallstead?

Accepted Answer

The IRS accepts offers that represent what they can reasonably expect to collect from you. In 2017, the average accepted offer was $10,234, often on debts many times larger.Your offer amount depends on your income, expenses, assets, and ability to pay. We've seen clients with $50,000+ debts settle for $5,000 or less. Others with significant assets might settle for 30-40% of what they owe.The key is presenting your case correctly. About 26% of offers get accepted overall, but experienced professionals see acceptance rates much higher because they know how to structure the offer properly.

Question 2

What happens to wage garnishments while you're working on my case?

Accepted Answer

When we submit an Offer in Compromise, the IRS typically stops collection activities including wage garnishments. This gives you breathing room while we negotiate your settlement.If you have an existing installment agreement, you don't have to make those payments while your offer is being considered. The IRS suspends collection efforts during the evaluation process.However, if your offer gets rejected, collection activities can resume. That's why it's crucial to submit a strong offer the first time - we make sure yours has the best chance of acceptance.

Question 3

How long does the tax resolution process take in Pennsylvania?

Accepted Answer

Most cases resolve within 6-12 months, depending on the complexity and which resolution option works best for your situation. Simple installment agreements can be set up much faster.Offers in Compromise take longer because the IRS does a thorough financial investigation. But here's something most people don't know - if the IRS doesn't respond to your offer within two years, it's automatically accepted.Pennsylvania state tax cases often move faster than federal cases. The state wants to collect, and they're usually more willing to work out reasonable payment arrangements, especially if you're current on your filings.

Question 4

Can you help with both IRS and Pennsylvania state tax problems?

Accepted Answer

Absolutely. Many of our Hallstead clients have both federal and state tax issues. Pennsylvania has its own tax forgiveness programs based on family size and income that might apply to your situation.The Pennsylvania Department of Revenue has gotten stricter with payment agreements recently, but we know how to work within their current guidelines. State tax liens and levies can be just as damaging as federal ones.We handle everything from unfiled returns to complex business tax problems. Whether it's personal income tax, business taxes, or payroll tax issues, we've seen it all and know how to resolve it.

Question 5

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

Accepted Answer

Unfiled returns are actually common, and the IRS expects this. You can't get into any resolution program until your filings are current, so this is always our first step.We prepare and file all your missing returns, often finding deductions and credits that reduce what you owe. Sometimes people are surprised to discover they actually get refunds for some years.Once your filings are current, we can pursue the best resolution option for your total tax liability. The IRS is usually willing to work with taxpayers who get compliant and stay compliant going forward.

Question 6

How much does tax resolution cost in Hallstead, PA?

Accepted Answer

Our fees depend on the complexity of your case and which services you need. Most tax resolution firms charge $3,000-$8,000 for comprehensive representation, which is a fraction of what most people owe.We offer payment plans because we understand money is tight. You're not paying us to make your tax problem worse - you're investing in getting your life back. Most clients save far more than our fees through the resolution we negotiate.We provide a clear fee agreement upfront with no surprises. Many firms charge extra for every little thing, but our comprehensive fee covers everything needed to resolve your case properly.

Tax Resolution Hallstead, PA