Settle IRS debt for pennies on the dollar … fact or fiction?

If you have a tax lien filed against you, you can expect to…
  • get letters from all kinds of ‘experts’ claiming they can settle your taxes for “pennies on the dollar.”
  • see ads on TV from national companies promising to put your IRS problems behind you
  • hear radio ads where a celebrity spokesman talks about some new IRS “fresh start initiative”

Then, when you respond, they will charge you $3,500 to $6,000 to represent you.

tax lien fix irs virginia

tax lien fix irs virginia

In fact, I’ve heard stories about how these ‘tax relief’ organizations just rip people off, take their money, then blame the the IRS, telling clients that “the government just won’t accept your proposal.”
Often taxpayers are left in much worse shape than when they hired these so-called tax resolution ‘experts’.
The truth of the matter
The IRS doesn’t just settle with taxpayers for minimal amounts without good reason. There are specific criteria that the IRS is required to follow before accepting settlements. There are also levels of review that must be met to accept an Offer.
In one case, I represented a client who owed over $350,000 to the IRS. We submitted an offer to settle the case for $7,500. The IRS looked very carefully at the financial information we provided, and then requested updated financials several times through the process. Ultimately, following months of working with the IRS, the case was resolved for $22,500, a savings of over $300,000.
It really is possible to settle for less than you owe. That’s fact. 
But the way that national tax relief companies tend to advertise their services… that’s fiction.
If you have had the misfortune of falling behind on your IRS obligations and need assistance getting back on your feet again, you may be able to lessen your burden through an Offer in Compromise (OIC). But I won’t accept your case without first doing a thorough analysis of your specific situation to determine whether there’s a strong likelihood your offer may be accepted.
Here’s what you should expect.
I will tell you whether or not you qualify for an Offer in Compromise, or some other form of relief.
  • I will tell you honestly whether or not I can help
  • I will tell you what I can and can’t do for you
  • I will give you a written fee quote if I can help
  • I will vigorously represent you if you retain me
  • I will keep in contact with you
  • I will be completely honest with you
Contact me for a free NO BULL evaluation of your circumstances.

Posted in Small Business Success Blog.

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