Stephen Venuti Answers an Important Tax Resolution Question
A fellow CPA called me yesterday to refer one of his tax clients. His client owed the IRS some money for prior year returns that were prepared by the IRS. His question was simple. His client wanted to settle his IRS Tax Debt for “Pennies on the Dollar”. Do I know the secret to make it happen? Whenever you hear the phrase “Pennies on the Dollar” in relation to tax resolution, you are hearing a reference to the Offer in Compromise (OIC) program. A client’s eligibility to settle for less than what they owe is directly related to their Offer amount. If their offer amount is equal to or greater than the minimum amount calculated using the IRS formula, then they maybe eligible to file an Offer in Compromise.
An Offer in Compromise application is more complicated than filing your tax return, and in particular, there are 7 Common mistakes that even some licensed tax consultants make in the application process. I have prepared a FREE Special Report showing you how to avoid these 7 common Offer in Compromise mistakes. To get this report, just log on to taxreductionsjv.com.
Please call me at 610-353-0686 or contact me to help resolve all your IRS issues!
Warmly,
Stephen Venuti, CPA
