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favorite this post OFFER IN COMPROMISE (OIC) IS NOT THE ONLY OPTION TO RESOLVE TAXES!!!! (MD, VA, DC) hide this posting unhide

license info: Certified Public Accountant

I asked myself “why do people think Offer in Compromise commonly known as OIC is the only option to settle tax debt?”

Last week, about 7 prospects approached my firm to help them resolve their tax problems and every single one of them requested if we could put in an Offer in Compromise to slash their tax debt.

Some of these clients have equity in their homes…
401k/ Savings accounts that are higher than their tax debt…

Why would you think the IRS would reduce your tax debt if you have savings higher than what you currently owe???

Folks, there are several options available to negotiate a resolution with the IRS.

Don’t be fooled by the AD on TV promising to drastically reduce your taxes without qualifying your case.

Don’t be fooled by what your CPA or tax preparer told you about OIC if they haven’t analyzed your case to see what you are qualified for.

So many tax preparers do not have the skill set to resolve IRS tax problems.

Many CPAs and tax preparers are focused on preparing taxes; unlike my firm, that focuses primarily on resolving IRS problems.

We are not traditional tax/ accounting practice. If you have tax debt, we would perform an investigation analysis on your case to see several options suitable for your case.

I have been able to get awesome deals with the IRS without requesting for an OIC.

As a matter of fact, OIC is an option that is highly scrutinized by the IRS. If you are requesting the IRS to reduce your tax debt, you have to be able to prove that you are in extreme hardship.

Some of the amazing results I have gotten for my clients are through partial pay installment agreements where I would negotiate a ridiculously “low monthly payment” with the IRS.
We would ensure clients maintain this low monthly payment until their taxes expire.

Expired Statute of Limitation prohibits the IRS to collect tax debt after 10 years. A lot of people are not aware of this tax law.

These tax resolution strategies work like MAGIC…. Why would you pay your CPA thousands of $$$$ for OIC and still get rejected??? You might as well put that funds towards your tax debt.

My CPA firm would qualify your resolution options based on your assets, disposable income, and other factors to determine the best options for your case. Reach out to us at 240.463.9019 or email: bernice@bernicehassancpa.com

Resolution options include the following:

Penalty Abatement (First Time Penalty Abatement or Reasonable Cause)
Properly Structured Payment Plan
Partial Pay Installment Agreement
Offer in Compromise
Expired Statute of Limitation

And much more….

Send me a direct message: bhassan.cpa@gmail.com or call 240.463.9019 if you would like to have my team analyze your case.
  • do NOT contact me with unsolicited services or offers

post id: 6916342017

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