You should know that the internal revenue service is a government agency that is tasked to enforce laws regarding tax. They are also involved with the collection of taxes. Since not all people are willing to pay taxes, it’s a fact that the IRS is owed by a lot of people. Owing the IRS large sums of money is not something that can go well which is why these people will want to do anything just to get out of this situation. For this reason, it’s quite common for these people to hire CPAs, tax attorneys, and anyone who can represent them when it comes to asking the IRS for the Offer In Compromise. Other options would also involve these professionals to help their clients get through certain pleas such as installment agreement and even injured spouse defense.
If you’re in this kind of situation, then you should know that choosing the offer in compromise instrument is a recommended course of action. In addition to that, this instrument is the one that can wipe the tax slates of the client anew. Still, you should know that it still has pros and cons.
In order for the IRS to grant your request, they will need all your tax information to begin with. Also, you should think of this as their precaution in order to check everyone with their actions in regards to tax. Adding to that, you have to know that they make use of the tax resolution software.
Also, if you hired a professional to take care of your request and it got rejected by the IRS, then the one that you hired must be able to notify you immediately of the situation. It’s necessary for the clients to know the facts since surprising them about it later on can only make things worse especially if they have to deal with the IRS personally. It’s also a fact that you shouldn’t be too surprised if your request for offer in compromise has been rejected since they just don’t grant it to everybody. Submitting this proposal also means that you should have other plans in case it gets rejected. However, it’s still important to make sure that you’ll do your best for them to accept this request of yours. Having that said, you will want to make sure that the professional that you hired will be able to help you in this situation. You also have to make sure that the one that you’re hiring has the capability to utilize the tax resolution software effectively.
In any case, the tax resolution software is necessary to ensure that you’ll be able to submit an appealing offer in compromise to the IRS.