The IRS or Internal Revenue Service is a government body that is in charge of declaring and collecting income taxes among people. A lot of people have been found to owe the IRS some money because of their taxes. Getting professional legal help is a must if you are one of these people who owe some money to the IRS and you need to pay them right. Enrolled agents, CPAs, and tax lawyers are the people that you should report to in getting some help. Your most common legal options include collection due process, collection appeal, installment agreement, injured or innocent spouse defense, and offer in compromise.
From these many choices, the offer in compromise stands as the most attractive choice. The use of this legal option enables the client to keep a clean tax record and for them to pay their debts in discount. These perks may just be too good to be true that is why there are also cons to this particular legal option. You are only given the offer in compromise option when you can give all necessary information about your assets to the IRS. The thing about the IRS is that it is equipped with the right machination and tax resolution software logics to monitor your taxes. A representative from the IRS often comes knocking at your door if they reject the offer you have submitted. Be ready to face them as they come knocking at your door.
When it comes to making an offer in compromise submission to the IRS, the IRS only gives you an approval rate of between 15{68bf49f23cb5682dc057c402feafd9697b0f6d63d9f75af3f5c294c3c1d9fb50} and 20{68bf49f23cb5682dc057c402feafd9697b0f6d63d9f75af3f5c294c3c1d9fb50}. What is the best way for you to be a part of this 15-20{68bf49f23cb5682dc057c402feafd9697b0f6d63d9f75af3f5c294c3c1d9fb50} approval rate? An IRS recommended tax software is a must aside from the manual help and cognitive contribution of the tax expert. You get a better idea about the problem that you are dealing with the IRS with the use of the analysis feature of this software. It helps assess the current case of the client and make an in-depth evaluation to approve the request.
Until this day, there are still a good number of tax experts that manually prepare their offer in compromise solution. The use of pencils, calculators, and their brains are often inevitable. For proper processing of the required documents, you need all the effort and time that you can give in the process. A reliable IRS recommended tax software is what you need to be rid of all of these problems. You can save both of your time and money through it. Aside from automating the process to make things easier and faster for you, you will also be provided up-to-date information regarding the updates made by the IRS.