You should know that the internal revenue service is a government agency that is tasked to enforce laws regarding tax. They are also involved with the collection of taxes. With that said, it’s quite a fact that the IRS still needs to collect taxes and it’s a fact that a lot of people owe them money in the first place. Owing the IRS large sums of money is not something that can go well which is why these people will want to do anything just to get out of this situation. For this reason, it’s quite common for these people to hire CPAs, tax attorneys, and anyone who can represent them when it comes to asking the IRS for the Offer In Compromise. Other options would also involve these professionals to help their clients get through certain pleas such as installment agreement and even injured spouse defense.
With all that said, you should know that the offer in compromise is the most attractive instrument. In addition to that, this instrument is the one that can wipe the tax slates of the client anew. Of course, this solution is not something that’s full of advantages.
In order for the IRS to grant your request, they will need all your tax information to begin with. This is something that they have to do in order to keep people in check. Adding to that, you have to know that they make use of the tax resolution software.
Also, when it comes to rejected requests, it’s important that the professional you hired to take care of this matter would notify you immediately. It’s necessary for the clients to know the facts since surprising them about it later on can only make things worse especially if they have to deal with the IRS personally. Also, you should keep in mind that getting the offer in compromise approved is something that has a low probability ever since. Knowing that, you will want to think of your next plan before the results are determined. However, it’s still important to make sure that you’ll do your best for them to accept this request of yours. Having that said, you will want to make sure that the professional that you hired will be able to help you in this situation. You also have to make sure that you’ll only hire the ones that have access to the tax resolution software.
The IRS needs to have proof that you’re willing to do your part and without the help of the tax resolution software, your offer in compromise won’t be any good.