Tax Reduction Agreement

IRS Reduction Agreement (OIC)

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    IRS Tax Reduction Offer or Agreement

    Using Tax Network USA to file your OIC or tax reduction agreement will significantly increase your chances of getting it approved. Our licensed Enrolled Agents, CPA’s and Tax Attorneys will analyze your situation to determine the best approach in reducing your back taxes.

    IRS Tax Reduction Agreement (OIC)

    Some taxpayers can reduce their IRS or State tax balance through a formal offer whereby the IRS or State accepts less than what is owed. You can pay a lump sum over five months OR make monthly payments over a period of 24 months. The IRS or state will take a reduced amount and in return, you promise to file and pay your taxes on time for the next five years. For best results, it is suggested that you have an Enrolled Agent or Tax Attorney see what you are legally required to pay towards what you owe.

    Get Immediate Help With:

    • IRS Representation
    • State Tax Representation
    • Lengthy Tax Forms
    • Financial Analysis and Accuracy Review
    • Statement of Circumstances
    • Steps, Procedures and Regulations
    • OIC Hearings and Appearances
    • OIC Appeals

    Get Expert Help with IRS or State Tax Reduction Agreement

    In one phone call, you can get all your offer in compromise questions answered by a licensed tax professional:

    • “How log will the process take?”
    • “How much will I have to pay once my tax reduction agreement is resolved?”
    • “What type of expert is best for my case?”
    • “Should I wait to file for a reduction once I can afford the offer?”

    Don’t make ANY major decisions until you get every question answered during your Free No Obligation Consultation.

     

    Frequently Asked Questions

    Can I Make Payments on The Offer in Compromise?

    Yes, the IRS allows two options for the OIC or the tax reduction agreement program.

    First is the “lump sum payment”, which will allow the taxpayer to pay no more than five payments over 24 months on the agreed upon offer.

    Second is the “Periodic Payment”, which will allow 24 payments over 24 months on the on the agreed upon offer.

    Can My Offer in Compromise Be Revoked?

    Yes. The IRS can default tax reduction agreement you have in place if you fail to pay the agreed upon amount. You will also be required to file and pay on time for a specific amount of time after the it is accepted.

    If a tax reduction agreement defaults, the IRS may levy or file suit to collect the entire balance of the agreement or an amount equal to the original tax balance less any payment(s) received under the terms of the agreement. All fines and interest will be reinstated. Liens and levies may be placed on the account.

    Will I Need to File Missing Tax Returns Before I Submit the Offer in Compromise?

    Yes, the IRS will require you to have all your missing tax returns filed before submitting your offer or tax reduction agreement.

    Tax Network USA also specializes in Tax Preparation and can help you become fully compliant with all your tax filings.

    What If My Offer in Compromise Isn’t Accepted?

    If your tax reduction agreement or OIC is not accepted, we can either appeal the decision or ask request an alternative resolution. There are several programs that offer significant savings.

    Tax Network USA’s enrolled agents and tax attorneys will review your case thoroughly
    to ensure that your case is presented properly.

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