Empire Tax Solutions

Settlement And Payment Plans

Missed Tax Deadlines? We Can Get You A Settlement Offer

While the IRS is quite stringent about enforcing penalties for missed tax deadlines, there is a possibility that you can avoid paying your full tax liability in one go. Given how the cumulative of all tax penalties can raise your tax bills by as much as 25%, it’s understandable that you may feel this massive tax burden like a vice around your neck.

However, the IRS offers quite a few options to either reduce your total liability or at least offer a flexible payment plan that allows you to pay off your entire tax debt. Before they offer you these plans, you’ll need to follow through a stringent review process to justify why you deserve this leniency. It’s difficult to make a case by yourself—unless you’re trained in tax accounting and understand tax code procedures well enough to use them during your negotiations.

Given the technical nature of these processes, it’s best if you worked with a tax debt relief service like Empire Tax Solutions to help you out. We’ve worked for years helping clients negotiate settlement and payment plans with the IRS, while minimizing their tax liabilities and helping them meet their tax obligations.

Settlement And Payment Options Offered By The IRS

All of the settlement options offered by the IRS fundamentally fall under the heading of Offers-In-Compromise (OICs).  There are three different kinds of OICs:

  1. Offers In Compromise, Doubt As Collectability — This is usually includes people who can’t pay their full tax debt, and want to settle for a lower amount than their original tax bill.
  2. Doubt As Liability — This type of OIC is offered to taxpayers who don’t think they owe taxes, disputing the amount for a settlement.
  3. Effective Administration Tax — This offer is reserved for taxpayers who can afford to pay their total liability, however the IRS settles because full payment may cause undue hardship.

As you can likely tell, to successfully appeal and qualify for an OIC you must have a deep understanding of tax law and IRS procedures. Additionally, it requires expertise to negotiate penalty abatements—so you can further minimize your tax liabilities.

At Empire Tax Solutions, we help you get settlement offers from the IRS by taking matters into our capable hands and navigating the negotiations for you. Get in touch with us today for more information on our services.