Many taxpayers feel helpless and isolated when they have a large tax bill with the IRS. In many cases they think there is nothing that they can do, but just do their best in trying to make payments. Often times the taxpayer's circumstances do not allow them to really make any payments thus leaving them feeling embarrassed about not knowing what to do or where to go for solutions.
Are you perhaps feeling the pain of IRS notices and liens? With the proper guidance you may qualify for a Doubt as to Collectability Offer in Compromise(OIC) with the Internal Revenue Service (IRS). How does a taxpayer qualify for a Doubt as to Collectability OIC?
If you are suffering from financial hardship this could be the best option for you. However, you must prove to the IRS that your assets an income are insufficient to pay the tax. To apply you must include documents supporting your income and expenses. There must also be a completed detailed financial disclosure. The IRS uses national and local standards to evaluate a taxpayer's ability to pay.
After careful review the IRS may determine that you qualify for a small settlement and are unable to make full payment. If the IRS makes this determination, you have a limited amount of time to make the payment offered. Plus, you must stay tax compliant for the next 5 years or the tax debt will reappear and you may have to start this process all over again.
525 N Cascade Ave., Suite 200
Colorado Springs, CO 80903
(719) 359-8789
success@cashtracksfinancial.com
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