2007-01-15 06:43:47 · 6 answers · asked by Diamond88 1 in Business & Finance ➔ Taxes ➔ United States
Unless there has been a change in the last 4 yrs an Offer 9in Compromise it does not matter how much you owe, and you do NOT necessarily need professional (expensive) help, the IRS MUST help, see local IRS office or call IRS and get the package re Offers and ask them questions. Always write down name , title , Ph # of who you speak to and jist of conversation and save with your tax records, if anyone jerks you around, is rude, etc, demand to speak to their supervisor.
2007-01-15 07:39:34 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It matters how much you owe.
If you owe under $10,000 they generally won't negotiate but you can enter into an installment agreement and pay it off over a couple years. There will be interest but the penalties will stop.
A settlement with the IRS is called an "Offer In Compromise". It is a very time consuming process and the IRS has up to two years to decide. Historically, over 85% of taxpayer offers have been rejected by the IRS.
2007-01-15 07:02:06 · answer #2 · answered by Wayne Z 7 · 0⤊ 1⤋
This will depend on your individual circumstances.
If you cannot (I mean REALLY cannot) afford to pay you can do an offer in compromise (OIC). Essentially you give the IRS full disclosure of you finances and tell them what you can afford, and they will accept or reject. (IRS OIC link below). If you go this route you need a professional to help you.
Another option may be a payment plan/installment agreement (see IRS link)
2007-01-15 07:04:00 · answer #3 · answered by CPA 2 · 0⤊ 1⤋
I would suggest to not EVER deal with the IRS alone. Get a great accountant that specializes in IRS Resolution. If you need a good accountant go to TMIACCOUNTING.COM and they can answer any of your questions accuratley and professionally.
2007-01-15 07:58:39 · answer #4 · answered by Anonymous · 0⤊ 1⤋
As a tax specialist I can tell u that trying to compromise with the IRS can be a never ending battle..at the end the day, there really is not "compromise" you owe, they want their money. plain and simple. try and set up a payment plan. they wil ask you to much as much down as you can and then begin to make monthly payments...good luck with that though!!
2007-01-15 07:13:39 · answer #5 · answered by ladymay 3 · 0⤊ 1⤋
You can call them directly and set up a payment plan. It's alot easier then coming up with all the money at once. I have had to do it in the past. I believe the phone number is 18001040tax or(tax1040)
2007-01-15 06:50:47 · answer #6 · answered by w2kaad 3 · 0⤊ 0⤋