Specializing in IRS Tax Resolution
Offer in Compromise – Support for Individuals in Michigan and Beyond!
Our Tax Resolution Attorneys are experienced in all cases involving tax resolution, tax dispute, and general concerns relating to IRS tax and debt relief. Our lawyers are extremely knowledgeable in the local, state, and federal tax code, and can help you today! Our legal experts work with clients throughout Michigan, Oakland County, Wayne County and Beyond. If you have an IRS tax concern please contact us immediately. Let’s get started rebuilding your financial security.
Contact our Experienced Law Firm For Help With an Offer in Compromise Matter.
Offer in compromise allows taxpayers to come to an agreement to pay less than what records say they owe. Of course, not everyone is granted this kind of settlement; to earn approval for an offer in compromise, one must prove that they are indeed unable to pay their full debt and if so, they must pay what they can in a lump sum or periodic payment.
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The IRS considers multiple factors when settling with taxpayers, such as their ability to pay, and yearly salary. Their online pre-qualifying test asks questions related to tax history and current finances, such as whether or not they are in a bankruptcy proceeding or if they are self-employed.
The questionnaire has six sections, but the IRS has three common reasons that warrant a tax cut.
- Doubt as to liability: this implies that the government has unfairly overcharged the person requesting the compromise. If there is enough evidence that their tax records are incorrect, a settlement is allowed.
- Doubt as to collectability: doubt as to collectability states that what the individual owes is more than their income and other financial assets.
- Effective tax administration: In this case, the IRS and citizen do not deny that the amount is correct, but paying the fee would be a significant financial burden. The situation must prove to be extenuating.
Once someone proves that their circumstances classify as one of the above, they need to apply for their payment plan. Fees may apply depending on reasons for applications. If accepted, the individual will need either pay their taxes via a lump sum or periodic payment.
- Lump Sum Cash Offer: The money for this plan is paid in up to five installments in five months. Payment for this fee is twenty percent of the offer’s amount, which must be sent with Form 656.
- Periodic Payment: This is paid in at least six installments in two years. The fee needed for this is the price of the first of the six or more payments along with the 656 form.
Offers in compromise can save a business’ or individual’s bank account and are researchable and attainable. Because requesting an offer of compromise has a fee and gaining approval takes work, carefully consider before speaking with the IRS. Keep in mind; these are just general guidelines on the subject of offers in compromise, and laws may vary from state to state and country to country.
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Offer in Compromise – Tax Attorney
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Michigan IRS Tax Relief & Tax Resolution Attorney
If you are experiencing serious tax debt, you should take immediate action to resolve your tax problem. IRS debts do require immediate action, most importantly, you should protect yourself against potential financial penalties. Whether your tax debt is old, recent, or personal, your liability can become worse over time. If you need help to resolve your tax debt obligation, Michigan IRS tax relief lawyer Peter C. Rageas, is ready to meet with you to begin negotiating a new start.
Peter C. Rageas specializes in tax resolution by maximizing his clients rights afforded to them by law, and helping them end their IRS tax problem. With over 20 years experience, rest assured you are in good hands! Contact our law firm today and let’s get on the road to tax relief. Remember, the longer you delay in resolving your tax problem, the greater chance the IRS will take drastic action to collect. Please call the tax specialists at Peter C. Rageas, and let’s get started!
When it comes to owing IRS debt, one thing is for certain, the more help you have from an experienced law firm, the better! Attorney Rageas, has been protecting hard-working individuals from IRS bank levies, garnishments, liens, and more. Start saving in back taxes, penalties, interest, and more today!
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Law Offices of Peter C. Regeas
400 Monroe Ave #620
Detroit, MI 48226
Phone: (313) 315-2272
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Our tax resolution and IRS tax dispute law firm in Michigan, helps clients resolve tax problems. We have helped many individuals successfully negotiate resolution to their IRS and other tax problems. Our services include: tax dispute, tax resolution, IRS taxes, IRS tax problem, offer in compromise, audit help, audit representation, criminal tax defense, injured spouse, innocent spouse, IRS agreements, tax installments, tax negotiations, IRS audit defense, IRS liens, tax returns, tax negotiation, payment plans, tax abatement, penalty abatements, IRS representation, wage garnishment, tax audits, tax petitions, tax lien, tax levy, payroll tax problems, trust fund, unpaid taxes
Service Areas include: Service Areas: Detroit MI, Troy MI, Bloomfield Hills MI, Birmingham MI, Auburn Hills MI, West Bloomfield MI, Bloomfield MI, Royal Oak MI, Southfield MI, Farmington Hills MI, Northville MI, Oak Park MI, Warren MI, Saint Clair Shoes MI, Ann Arbor MI, Walled Lake MI, Clinton Township MI, Wixom MI, Milford MI, Plymouth MI, Livonia MI, Westland MI, Dearborn MI, Novi MI, Ypsilanti MI, Wayne MI, Huntington Woods MI, Farmington MI, Canton MI, Rochester MI, Dearborn Heights MI, Clarkston MI, Oakland MI, New Hudson MI, Grosse Pointe Park MI, Grosse Pointe MI, Oakland County MI, Berkley MI, Ferndale MI, Commerce MI, Eastpointe MI, South Lyon MI, Hamtramck MI, Highland MI, Keego Harbor MI, Rochester Hills MI
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