Let Wynne Law, P.C. assist you with filing an IRS Offer in Compromise.
An Offer in Compromise allows eligible Taxpayers to settle their debts for less than the full amount they owe if the Taxpayers are unable to pay their full tax liability or if paying their full liability will result in hardship. The IRS will consider their unique set of facts and circumstances including their ability to pay, income, expenses and equity in assets.
Taxpayers have two payment options for the amount they are offering:
Call or email me today to find out if you may be a candidate for an IRS Offer in Compromise.
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Let Wynne Law, P.C. assist you with setting up an IRS Installment Payment Agreement.
If a taxpayer is unable pay their balance due in a lump sum, the IRS may allow them to pay off their balance in monthly installments. Entering into an Installment Payment Agreement with the IRS will prevent further collection actions such as bank levies or passport revocation. However, interest and penalties will continue to accrue until the balance is paid in full.
Depending on how much the taxpayer owes, the IRS may require financial disclosure and the completion of several forms. However, the IRS currently has streamlined options for entering into an Installment Payment Agreement that eliminate the need for most of the paperwork. The IRS has recently extended their streamlined program to taxpayers who owe up to $100,000.
Call or email me today to find out if you may qualify for an IRS Installment Payment Agreement.
Let Wynne Law, P.C. assist you in having your account placed into Currently Not Collectible status by the IRS.
Some taxpayers, due to their current financial situation, cannot afford to pay both their taxes and their reasonable living expenses. These taxpayers may be eligible for IRS Currently Not Collectible status.
While a taxpayer’s account is in Currently Not Collectible status, the IRS generally won't try to collect from them. However, the IRS will continue to assess interest and penalties to their account. The IRS will also keep any tax refunds the taxpayer may be due.
The IRS may review a taxpayer’s income annually to see if their financial situation has improved.
Call or email me today to find out if you may qualify for an IRS Currently Not Collectible status.