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Negotiating a Tax Debt Settlement

Outline: Most taxpayers are not aware that there are opportunities in place if negotiated correctly to reduce their tax debt.

Main Digest

Owe Big Bucks to the IRS? Let the Blue Tax Team Help You Negotiate a Settlement! The Expert Tax Attorneys at Blue Tax Provide Reduction and Relief.

All too often, a taxpayer owes money to the IRS and they just accept the fate of drowning in tax debt. Most taxpayers are not aware that there are opportunities in place, if negotiated correctly, to reduce their tax debt. This is a specialty of the experts at Blue Tax.

This is the situation that Edward (Lyden, WA) found himself in after realizing that he owed the IRS $10,123 for the tax years of 2007 and 2008. Edward came to Blue Tax seeking a settlement while simultaneously concerned about keeping himself protected from accruing any additional tax debt, interest, or fees.

Upon meeting Edward, the Blue Tax team knew immediately how to proceed. First, they sent out the Welcome Packet for Edward to fill out and return. Then, Blue Tax arranged for the necessary Power Of Attorney paperwork, called the IRS, and mapped out their plan for resolution. Mindful of Edward's current financial situation, Blue Tax was able to successfully negotiate with the IRS to put him on a payment plan of $100 a month for the tax debt owed. This payment plan would resolve Edward's concerns about accruing additional fees in the interim and protected him throughout the process.

When Blue Tax received the client's Welcome Packet back, they proceeded to prepare the necessary financial. Once the financials were complete, Blue Tax discussed the client's options with him, which was to either seek a Currently Non-Collectible (CNC) status or an Offer in Compromise (OIC). Edward elected to try for an OIC. So Blue Tax prepared the OIC packet and requested all necessary documents from the client. Upon receipt of all documents, Blue Tax mailed the OIC packet to the IRS.

Ultimately, Edward was accepted for the OIC program with a significantly reduced balance of $656 owed to the IRS. He opted to pay the entire OIC amount of $656 all at once as opposed to in five installments, as was his right. The team of attorneys at Blue Tax saved this client over $9,000!! Because of the expertise at the Blue Tax office, Edward was only required to pay 6.5% of his debt to the IRS. Needless to say, Edward was pleased with the outcome!

For more information about Blue Tax and its ability to help taxpayers resolve their tax problems, please visit www.BlueTax.com or call (888) 310-5858 for a free confidential consultation.


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Cite:
Journal: Disabled World. Language: English. Author: Blue Tax. Electronic Publication Date: 2011/04/25. Last Revised Date: 2011/04/25. Reference Title: "Negotiating a Tax Debt Settlement", Source: Negotiating a Tax Debt Settlement. Abstract: Most taxpayers are not aware that there are opportunities in place if negotiated correctly to reduce their tax debt. Retrieved 2019-11-13, from https://www.disabled-world.com/disability/legal/tax/tax-debt.php - Reference Category Number: DW#470-7497.
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