IRS Fresh Start Initiative: State or IRS Offer in Compromise (656B) changes - DWK Tax Group

IRS Form 656B, IRS Offer in Compromise Booklet has some changes worth sharing. Yes, the magic tax wand does exist however, certain factors must fall into place prior to realizing a successful State or IRS Offer in Compromise.
By: DWK Tax Group
 
TARZANA, Calif. - June 5, 2014 - PRLog -- Years of accumulated tax debt can be wiped away if the timing, compliance, income, allowable living expenses and solid legal representation is at your disposal. A tax liability festering in the back ground is a nuisance that demands your undivided attention. If you plan not to give your undivided attention to this very important tax matter than hire representation who will give it its undivided attention the tax problem requires.

As recent as January 2014 the IRS revamped the IRS Offer In Compromise booklet. What was considered legal information the everyday taxpayer was not aware of, now the “tricks” are not so hidden. “As an economic hardship specialists, it is imperative for your representation to leave no stone unturned.” says IRS Enrolled Agent and Managing Partner Andrew Kai Hatchie Jr., the IRS Enrolled Agent goes on to further say, “Circumstances are often controllable, however, should financial or tax circumstances become unmanageable, at that point perhaps it is time to bring in a tax professional.” Furthermore, Hatchie shares, “Remember, the IRS is the most aggressive collection agency in world, the tax levy powers at their disposal is swift and decisive. DWK will identify the “Core” of the tax problem, check it for accuracy and apply the most aggressive tax relief approach made available to the taxpayer given his or her current financial snapshot. Truth is…the state managed governments have displayed a degree of aggressiveness never seen before. By the way, each state has its own set of rules, be aware.”

DWK Tax Group is sharing some of its IRS Offer in Compromise observations worthy of note:

 IRS Offer in Compromise processing has been taking 3 months for review and consideration. Normally the review process took 9 to 12 months as recent as a year ago.
All tax collection enforcement stops both Federal and State submissions.
An additional $200.00 is allowed for vehicle operating costs of automobiles older than 5 years or have accumulated more than 75,000 miles.
A fair market value of $3450.00 is credited to the taxpayer for each vehicle.
Low income certification no longer requires installment payments to be made while offer in compromise is under review.


About DWK Tax Group, an accountable advocate for the general public to count on;

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Our mission statement is rather simple; We treat you like family, we will only accept your case if we can better your scenario you are currently experiencing today.

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- See more at: http://www.dwktaxgroup.com/offer-in-compromise/irs-fresh-start-initiative-irs-656b-offer-compromise-changes/#sthash.T3MdvYzv.dpuf

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Andrew Hatchie Jr.
***@dwktaxgroup.com
310.966.0266
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Source:DWK Tax Group
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Tags:Offer In Compomise, IRS OIC, State Offer In Compromise, Fresh Start Program, Tax Problems
Industry:Business, Financial
Location:Tarzana - California - United States
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