Offer in Compromise (OIC):
In 1992, the IRS created the Offer in Compromise, an agreement between the taxpayer and the government that settles tax
liability for payment of less than the full amount owed. This applies to all taxes, including any interest and penalties. As of last
year the IRS has accepted Offers at 88% less than the amount owed. If you qualify, an Offer in Compromise is frequently the ideal solution
for resolving your delinquent tax liability.
A majority of taxpayers that qualify for OIC fall under the category of "Doubt as to Collectibility". Under this category, the taxpayer
is notifying the IRS that he/she could never pay the full amount of tax owed, even by liquidating assets or through installment
agreement guidelines. When submitting an OIC, the IRS will stop to collect tax liability as they evaluate your offer.
The biggest obstacle to qualifying for OIC is the failure for taxpayers to correctly submit the appropriate collection information
statement and ALL required supporting documents. For this reason, many taxpayers turn to Continental Tax Relief’s qualified
Specialists for full assistance with completing their OIC for acceptance by the IRS.
To learn if you qualify for Offer in Compromise, CALL 1-800-650-0506.
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Installment Agreement:
If a taxpayer does not qualify for Offer in Compromise, the taxpayer may be qualified for an Installment Agreement. In most
cases, the IRS will require negotiations and our Tax Relief Specialists will work with you to reach a favorable resolution with
the IRS. As with an Offer in Compromise, the IRS cannot levy against your property while your request for an Installment
Agreement is being considered, while your agreement is in effect, for 30 days after request has been rejected, or for any period
while an appeal of the rejection is being evaluated.
Most taxpayers contact the IRS to negotiate the payments themselves, but fail to realize that the payment amounts are at the
discretion of the revenue officer. The officer uses only the information given to determine the amount you pay. If you do not have
a strategy for negotiating an installment plan, your installment agreement payments could be higher than what you had wished
to pay.
To qualify for a low Installment Agreement, CALL 1-800-650-0506.
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Penalty Abatement:
In addition to negotiating a favorable Installment Agreement with the IRS, our Tax Relief Specialists will also help to eliminate tax
penalties. The key to having a penalty removed is to show the IRS some “reasonable cause” for your failure to observe the tax law.
Just some of the reasonable causes could include death or serious illness of taxpayer or immediate family, unavoidable absence
of taxpayer, destruction of place of business or records, bad advice from previous tax professional, undue hardship that is
medical related, including alcohol or drug abuse. With the proper method, most of IRS-imposed penalties are later canceled.
To eliminate your tax penalties, CALL 1-800-650-0506.
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Tax Lien, Levies and Wage Garnishment Solutions:
When the IRS files a lien against your property they are making a legal claim to your property as security or payment for your
tax debt. It is possible for a taxpayer to qualify to have the IRS withdraw a filed Notice of Federal Tax Lien. Please contact one
of our Tax Relief Specialists at 1-800-650-0506 to see if you qualify.
A levy is a legal seizure of your property to satisfy a tax debt. According to the IRS, a lien is a claim used as security for the tax
debt, while a levy actually takes the property to satisfy the tax debt. The IRS may actually sell any type of real or personal property
that you own. As with a tax lien, there are numerous ways for the IRS to release a levy. In fact, our Tax Relief Specialists will be
able to release your levy immediately if you qualify.
One common way for the IRS to levy your assets is through wage garnishment. Taxpayers that are debilitated by a wage
garnishment may contact Continental Tax Relief for resolution. We will immediately contact the IRS and work with them to
release the wages from garnishment.
To release a levy or release wages from garnishment, CALL 1-800-650-0506.
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Payroll Taxes:
The IRS demands prompt payment of withheld income and employment taxes, including social security taxes. If you willfully fail
to collect or pay the payroll taxes, and you are responsible for collecting or paying the payroll taxes, the IRS will assess you for
the trust fund recovery penalty. In order to resolve this serious tax liability, our Tax Relief Specialists will work closely with you
to ensure that you are qualified for tax relief.
To learn if qualify for payroll tax resolution, CALL 1-800-650-0506.
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Unfiled Tax Returns:
The IRS requires that any past tax returns be filed before a taxpayer can qualify for tax relief. Our Tax Relief Specialists will
help you file and prepare those unfiled returns.
To file your unfiled tax returns, CALL 1-800-650-0506.
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Innocent Spouse:
According to the IRS, you may be relieved of responsibility of paying taxes, interest, and penalties if your spouse or former
spouse improperly reported items or omitted items on your tax return. The IRS has made it easier through the years to favor
the innocent spouse and allow penalty abatements. Our experienced Tax Relief Specialist will determine if you are qualified
for Innocent Spouse relief.
To request Innocent Spouse relief, CALL 1-800-650-0506.
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