Can I settle my taxes for a lower amount?
Lots of companies advertise tax reduction programs offered by the IRS. The most widely advertised program is called an Offer in Compromise (OIC). The IRS actually has three different OIC programs. Unfortunately, many of the sales representatives at tax resolution firms only know about the first category called Doubt as to Collectability.
We look at all three types of OICs to see if you qualify. We also look at other methods for reducing your tax debts like amended tax returns, audit reconsideration, innocent or injured spouse programs, Section 6015 equitable relief, penalty relief, bankruptcy, and partial-pay installment agreements.
Other alternatives exist like the Currently Not Collectable (CNC) TC530 Code. If utilized you may be able to delay paying your tax bill for a while until your income rises or the statute of limitations runs out.
We want to help you find the best program for reducing your tax debt. We recommend avoiding bankruptcy since the best tax reduction programs should not affect your credit score.
If you choose to use an OIC to reduce your tax bill, you’ll need to gather financial information and prepare IRS Forms 433-A (OIC) and 656. You can prepare the forms and represent yourself. Be aware, the form preparation is complicated, with lots of rules, and even some planning opportunities. You also sign the forms under penalty of perjury so we recommend hiring a knowledgeable professional to get it right.
You’re Going to Discover…
- How to quickly stop aggressive IRS collection activity. We don’t believe any honest, hardworking
individual has to endure their wages and bank accounts being seized by IRS revenue officers.
- There are multiple solutions to serious tax debt problems. Some solutions can be very
affordable. The best solutions do not involve bankruptcy and do not destroy your credit, your
employment or your reputation.
- There is a simple, straightforward process for determining the best tax solution to your problem.
- Why only about 1% of all CPAs and Attorneys are even qualified to solve serious tax debt
- Why the IRS talks differently to you than to a qualified tax professional that knows IRS policies
and procedures. As a result, representing yourself before the IRS can end up in disaster.
Private Tax Solutions
Private Tax Solutions helps business owners and individuals solve their serious tax problems. Our clients are located all over the United States, and we have even represented US citizens living abroad in places as far away as South Korea. Private Tax Solutions uses Certified Public Accountants, Enrolled Agents, and Attorneys to solve tax problems.
“Last we hear we had the unfortunate experience of being audited for a previous tax year. Jon Miller communicated with the IRS for us and he and Angela gave us direction on working through the process. I won’t say it wasn’t stressful but having a knowledgeable team on our side made it much easier. I am happy to say that our tax return for that year was accepted as filed after the audit. I consider that a win!”
“I cannot say enough about the work Jon and Angela did for me and for my clients. They are extremely competent and deliver more than they promise. Many accountants often say things that a taxpayer may want to hear, but Jon and Angela was straight with me from day 1 and they worked very hard as my advocate. I have no reservations referring Jon and Angela to all of my clients.”