Never in history has this been recorded that quite a number of people owe the Internal Revenue Service a large amount of tax. To have this problem solved, people who are involved in tax evasions are willing to pay any amount so that everything will be settled and so that they can get rid of the pain that this is causing them. If you belong to those numerous people who are unable to pay their taxes on time, the best thing for you to do is to ask for the assistance of a CPA, Enrolled Agent, or Tax Attorney to help you deal with your problem by using instruments such as the Offer In compromise, Collection Appeal, Innocent or Injured Spouse Defense, Collection Due Process, Installment Agreement, and many more.
In order for the taxpayer to lessen that total amount of tax that needs to be paid, he will try to make some form of settlement with the Internal Revenue Service through the Offer In Compromise instrument. Even though this is the most attractive instrument that are used by many, it still has its pros and cons. In order for the tax that you are going to pay for every month to be deducted, you will have to risk disclosing all of your assets’ information to the Internal Revenue Service. You might think of ways which will enable you to get away from your taxes, but you have to reconsider this since the IRS machine is always updated with the payments that you need to pay. There is a tendency for people from the Internal Revenue Service to visit your client in case the petition that you submitted regarding the Offer in Compromise will be rejected. You need to take note that the Internal Revenue Service only approves 20% of the total petitions are are submitted to them with regard tot eh Offer in Compromise. With this in mind, what are the things that you need to do in order to be included in the 20% that are accepted in the Internal Revenue Service? You need to make good use of your brain in getting rid of your tax problem, and also you need to secure a software that will be able to help you make an analysis so that you can give diagnosis to the IRS tax problem that your client is currently facing, and it will also help you evaluate the chances that you have in getting rid of this current situation.
A survey shows that there are still representatives who manually prepare the Offer in Compromise which is literally by using calculators, pencils, and one’s brain.