OIC Tax Professional in Hackensack, NJ Representing Clients in Bergen County and Throughout NJ
If you’re facing overwhelming tax debt, you may be considering submitting an IRS Offer in Compromise (OIC) to the IRS. If the IRS accepts your OIC, you will be able to settle your tax debt for much less than you owe. However, this process is not as easy as it sounds. The IRS accepts only a small percentage of Offers every year. If you want to improve your chances of success, you should seek offer in compromise services in Bergen County.
Work with Scott Schneider, an experienced and skilled OIC professional in Hackensack, NJ. Having previously worked as a revenue agent with the IRS, he has a unique perspective on how the OIC process works. He is a tax consultant that specializes in IRS and State Audits as well as the Offer in Compromise applications, settlements, and negotiations. He is a licensed enrolled agent with years of experience in representing clients before the IRS. You can trust XL Consulting, LLC to work in your best interests and help you resolve any tax issues you are facing.
Contact XL Consulting, LLC to schedule a free consultation and determine your chances of success.
Contact Scott Schneider at XL Consulting, LLC to Find a Solution to Your Tax Issue Today.
Circumstances in Which IRS Will Consider an Offer in Compromise
There are certain circumstances in which the IRS will consider an offer in compromise.
1. There is doubt as to collectability
This is a situation where the taxpayer has income and assets to pay the tax debt in full. If this is your reason for making an OIC, you must prove to the IRS that you could never be able to pay the full amount owed in taxes even if your assets were liquidated or you agreed to pay in installments.
2. There is doubt as to the liability
Do you believe that you should not pay the taxes owed? You may have grounds for an OIC if your tax liability was assessed incorrectly. Legitimate doubt may occur in instances where you were an innocent spouse if a tax agent made an incorrect assessment and you did not appeal or if you received an inaccurate tax return from the IRS. You will, however, have to provide evidence that shows that you are not legally responsible for the tax.
3. There is an effective tax administration offer
This is when you have agreed that you are responsible for the taxes owed and have sufficient assets to pay the debt in full. However, because of exceptional circumstances, paying the full amount would be considered unfair or would result in economic hardship. If you are requesting an ETA offer, you will have to provide your explanation of your special circumstances in writing. You will need to explain to the IRS why making the full payment will result in economic hardship or why it is unfair.
Scott Schneider at XL Consulting, LLC provides IRS offer in compromise services in Bergen County designed to help taxpayers increase their chances of success. Contact us to schedule a free consultation.
About IRS Offer in Compromise Cases in Bergen County
Bergen County is a county located in the state of New Jersey. It is in fact the most populous county in New Jersey with a population of 955,732 as of the 2020 US Census. This was an increase of slightly more than 50,000 from the previous census in 2010. The county is considered one of the best places to live in New Jersey.
In 2014, the IRS received 68,000 offers. Only 27,000 were approved. This is about 40 percent of the offers made. Studies have shown that the IRS’ offer acceptance rate has hovered between 17 and 26 percent. If you want to increase your chances of success, you should contact XL Consulting, LLC to work with an OIC tax professional in Hackensack, NJ.
Do You Have a Tax Problem? Are You Facing Tax Liabilities That Amount to More Than $50,000? Get in Touch Today to Schedule a Free Initial Consultation With Tax Practitioner Scott Schneider of XL Consulting, LLC.
Contact XL Consulting, LLC for Quality IRS Offer in Compromise Services in Bergen County
Are you considering applying for OIC? The IRS only accepts a small percentage of OICs every year. You can improve your chances of success with the help of professional IRS offer in compromise services in Bergen County. We offer taxpayers the opportunity to consult with an experienced and skilled OIC tax professional in Hackensack, NJ. We will review the circumstances of your case and determine your chances of success. We will guide you through the process and provide you with information on various other options you may want to consider.
Contact us today to schedule your free consultation.