Tuesday, June 30, 2009

Can you get me an Offer in Compromise?

Here is the transcript of an online chat that I recently had with a concerned taxpayer regarding the possibility of an Offer in Compromise...

Benjamin: I have one year unfiled tax return with nearly 20,000 dollars in tax debt to the irs. I'd like someone to review all of it and see if an offer in compromise is available and set up a payment plan for all years owed.

Brent: Hi Benjamin. Thank you for contacting us. I'd be happy to review all of your information and see if an offer in compromise is a possible solution for you.

Brent: Which year is unfiled?

Benjamin:last year only. all other years are filed. i have about 12 000 dollars in back taxes from other years. I have a payment plan set up but i owe 8000 (about) from last year. It's because I fell on hard times and changed my deductions on my pay check.

Brent: Okay. So the additional 8,000 owed is from 2008 right?

Benjamin: yes

Benjamin: which is unfiled.

Brent: do you have an extension to file?

Benjamin: no

Brent: Okay. The first thing we would need to do is to file that return so that we can either renegotiate a new payment plan or if possible apply for an offer in compromise.

Brent: I will tell you that an offer in compromise is very difficult to get approved by the IRS. Only 24% are accepted by the IRS each year. However we will always take a look to see whether or not you're a candidate for it.

Benjamin: i got you well honestly i'd like it all.. the whole debt moved into one payment plan. I'm back on my feet so I know the irs will keep any tax over payment so i know that will go directly to what i owe.

Brent: Right. What we need to do in order to determine what options you have and what type of payment plan we could negotiate is to go through a list of financial questions with you.

Brent: Is that something we could do over the phone for you?

Benjamin: Yes. I cannot call right this moment. Is there anyway you could email me your company information so that i can call.

Brent: Absolutely. My name is Brent and I'm a Tax Consultant here so you can call me directly and we can go through it together. My contact details are...

Brent: Direct Line: 336-369-5423 or Toll Free 877-477-2873 ext 4401, Email- bpilson@effectur.com

Brent: I'll be here until 9pm Eastern Time tonight so I will look forward to hearing from you.

Benjamin: ok great. thanks. have a good day.

Brent: Thank you for contacting me. You have a good day as well!

Go ahead! Contact me today.

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