One of the most important governing bodies that deal with tax enforcement and collection is the Internal Revenue Service or the IRS. A lot of people have been found to owe the IRS some money because of their taxes. Getting professional legal help is a must if you are one of these people who owe some money to the IRS and you need to pay them right. Enrolled agents, CPAs, and tax lawyers are the people that you should report to in getting some help. These professionals can help you settle your case with the IRS through a collection appeal, offer in compromise, injured or innocent spouse defense, installment agreement, collection due process, and more.
Out of these many options, the most attractive for taxpayers is the offer in compromise. The use of this legal option enables the client to keep a clean tax record and for them to pay their debts in discount. With these pros, you can expect to also get some cons. For you to enjoy this offer in compromise option in lowering your tax liability, the IRS may require you to disclose all of your assets information. The thing about the IRS is that it is equipped with the right machination and tax resolution software logics to monitor your taxes. A representative from the IRS often comes knocking at your door if they reject the offer you have submitted. In case they will be knocking at your door, you have to be ready to face them.
If you are in the process of submitting your offer in compromise, you have to remember that only between 15% and 20% of the petitions submitted are to be approved by the IRS. What must you do to be included in this 15-20% range? In addition to getting the expert help from the tax expert, you also need to be using an effective IRS recommended tax software. As a client, you will get to learn what really is the root cause of the problem at hand. This tool will help to get into the bottom of the issue on the part of the client as well as check for chances of approval of their request.
The use of the offer in compromise and its process are still being carried out manually on the part of a lot of tax experts. The manual use of pencils and calculators and of course the brain of the tax expert are a must. If you must file for this request to the IRS, you have to make use of a lot of your time and effort in dealing with necessary documents. Doing all of these things should be far from your concern with the help of a reliable IRS recommended tax software. This helps you save a lot of your time and money. Aside from automating the process to make things easier and faster for you, you will also be provided up-to-date information regarding the updates made by the IRS.