A considerably large amount of taxes needs to be paid by some individuals these days to the Internal Revenue Service which was never allowed to happen before. People who have problems with their taxes are willing to pay whatever it takes to free them from this responsibility Let me name a few of the instruments that Tax Attorneys, CPA, and Enrolled Agents make use of in order to help their clients with the settling of the liabilities that they need to pay for, and they are Collection Appeal, Offer In Compromise, Collection Due Process and Installment Agreement, Injured or Innocent Spouse Defense.
If the client’s tax slate will not be deducted, there is a bigger chance that it will be wiped clean and this is only possible with Offer In Compromise that is why this is considered as the most promising instrument these days. Be that as it may, there are still some positive as well as negative effects from this instrument even if it is being used by many. When it is highly possible that you can get a discount of the amount that you are supposed to pay for the tax that you owe to the Internal Revenue Service, there is a risk of having to divulge every information about your assets to them. There is no chance for you to lie about your taxes since a machine is being utilized by the Internal Revenue Service to monitor all of the taxes. Someone from the Internal Revenue Service will surely be looking for your client if your appeal about the offer will not be accepted so make sure that you have kept your client informed of the progress of his case. Although Offer In Compromise may sound like a big hope for the clients, they should know that the disadvantage of this is that only 20% of the total number of offers that are submitted to the Internal Revenue Service will be accepted. There are surely importance factors that you need to do so that you can be included in the 20% of offers that are being accepted by the Internal Revenue Service. There is a form that the client needs to fill up after given an evaluation of the chance that he has in belonging to the 20% of appeals that are accepted. That is why you should make use of a tax resolution software logic which will be able to help you in fixing your problem by making an analysis of it.
Some of the representatives failed to acknowledge the presence of the professional software solutions since they are still manually doing their labor when it comes to the preparation of the Offer In Compromise.