Offer in Compromise (OCI) is a tax settlement offer in which the taxpayer and the IRS agree with the taxpayer's annual taxable income. Offer in Compromise also known as IRS Offer in Compromise is where the IRS offers taxpayers a compromise in return for them paying their taxes. This is normally done instead of going behind on the back taxes.
Many people are intimidated by the idea of making an offer in Compromise and many choose to just accept the IRS offer in compromise.
These taxpayers do not want to have to pay the taxes but at the same time, they also don't want to face the embarrassment of the long-drawn-out court proceedings that may occur. There are some factors that taxpayers should consider when deciding whether to accept an IRS Offer in Compromise.
It is important to take into account all the factors that may affect your decision when deciding to make an OIC or not. One of the factors that you should think about is the time factor. Do you need the help of Anderson Bradshaw professional OIC tax preparation services to deal with the back taxes?
Do you have the time to prepare and file your own returns? Are you confident that the professional OIC tax preparation services can help you get rid of all your back taxes?
The other factor that you should consider before deciding to accept an OIC offer in compromise is the savings that you can avail of from the deal. The offer in compromise is usually an initial consultation, which will not only help you save money but can also help you avoid long-drawn-out court proceedings.
When comparing the best solution for consumers, particularly an offer in compromise, most people do a thorough financial examination to decide if IRS offer in compromise really is the best solution. The best solutions for taxpayers are those that offer initial consultations for free and do not charge hefty amounts for this.
Most OIC Tax Services are licensed by the IRS and there are many of them around the world. To contact OIC Tax Services, the best option is to check the website of the IRS. You can also check out the business profile of the tax consultant. You should be able to contact the accredited since the IRS has specific rules and regulations on how to hire certified IRS tax consultants. Browse https://andersonbradshawtax.com/service/reduce-irs-tax-debts/ to understand well the services of a professional tax consultant.
One of the things that you should look for in an OIC tax consultant is his or her business started dating. The certified IRS tax consultant who is accredited since 2009 must start the business as soon as possible because the IRS must accept his services.
There is a minimum period for starting a business and it starts from one month to one year from the date Mr. Robert Forsythe's business started dating. If the consultant worked for a company before, the time starts from the date of the license being suspended until the company ceases to operate.
However, if you contact the IRS to check the status of the consultant, you can ask about the business started dating.
The IRS conducts random audits for the company and the certified IRS tax consultants and they conduct separate random audits for the accredited since the latter is already licensed. In case you have any customer complaints against the business started dating of the consultant, you can follow up with the concerned IRS office.
The IRS will provide you with a phone number or you can directly contact them through their website. The best option in such cases is to get in touch with the customer complaints department of the IRS instead of using the OIC Tax Services' customer complaints department. An alternative post for more info on the topic here: https://www.encyclopedia.com/social-sciences-and-law/economics-business-and-labor/businesses-and-occupations/consulting
