A thing that has never happened in history has changed the way things are these days with the Internal Revenue Service since there are already a lot of individuals who are owing a large amount of taxes that needs to be paid. People who have problems with their taxes are willing to pay whatever it takes to free them from this responsibility Tax Attorneys, CPA, or Enrolled Agent, are allowed to make use of some of the instruments that can help their client to settle the liabilities that they have, and these instruments include Injured or Innocent Spouse Defense, Collection Due Process and Installment Agreement, Offer In Compromise, and Collection Appeal.
The Offer In Compromise is the most popular instrument that a lot of mediators use these days since there is a very big possibility that the tax slate of the client will be discounted or may even be totally wiped clean. When it is true that this is considered as the most attractive instrument these days, it also has its pros and cons. Even if you are granted a discount with the use of an Office In Compromise software, the Internal Revenue Service will still require you a complete list of all the assets that you possess. Since there is an Internal Revenue Service machine that is able to monitor all of the taxes, you cannot lie about your own. There may be cases when you did your best but the offer will still be rejected. In this situation, make sure that the client is well informed about it so that they will not be alarmed when someone working for the Internal Revenue Service will come looking for them. You may think that the Offer In Compromise is very advantageous, but what you don’t know is that only 20{7f7b0206ef579875bd35610f3ae29ce6e3e0c5c3578c4c9f1600fbd97b665c0b} of the total number of appeals will be accepted. To belong to the 20{7f7b0206ef579875bd35610f3ae29ce6e3e0c5c3578c4c9f1600fbd97b665c0b} of appeals that are being accepted by the Internal Revenue Service, there must be some things that you need to take note of. There is a form that the client needs to fill up after given an evaluation of the chance that he has in belonging to the 20{7f7b0206ef579875bd35610f3ae29ce6e3e0c5c3578c4c9f1600fbd97b665c0b} of appeals that are accepted. That is why you should make use of a tax resolution software logic which will be able to help you in fixing your problem by making an analysis of it.
Some representatives who are applying for the Offer In Compromise are still preparing it manually which means that they are using their calculators, pencils and their brain in doing this.