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IRS Solutions | Avoid These Mistakes When Solving Your Tax Problem

FLAT FEE TAX RELIEF

Coast to Coast IRS Tax Relief Solutions

Believe it or not, without the right tax advice, making your IRS problems worse than it already is is quite easy to do. Here's a few common mistakes we see naïve, uninformed taxpayers making before they call Flat Fee Tax Relief:

1. Filing More than Six Years of Taxes - IF you haven't filed taxes in like 10 years or so, a common mistake is to file all 10 years! The IRS generally is looking for non-filers to file the last six years of tax returns. The Agency usually won't be looking for tax returns past that. So in late 2020/2021, you will focus on 2015 to 2020 returns, In 2022, 2016 to 2021 and so on. There are always exceptions (this is the "rule of thumb") to this six year rule, which we explain elsewhere in the blog.

2. Overpaying for a Tax Relief Company - Tax relief companies often will tease customer with a low research fee (IT SEEMS TO ALWAYS BE $500) and then charge a high four or five figure fee to resolve your tax problem. Unless your tax problem case involves multiple tax filings, or a really intense tax collection situation (THINK IRS REVENUE OFFICER), you should really be able to settle and resolve your tax liability for $2050 total if you choose Flat Fee Tax Relief. In fact, our $2050 tax relief fee includes a levy release along with either placing you into Currently not Collectible status, the best Installment Agreement possible or a complete settlement. Each tax relief option is predicated on the best tax resolution possible for you. 2. Filing a Bad Offer in Compromise - Filing an Offer in Compromise (OIC) to settle your tax debt is great when you are "eligible and qualified." But if you don't qualify, don't do it! Don't let the Tax Relief company you hired do it either! Why? Filing an OIC freezes the statute clock on your tax debt. And if you lose your OIC, which usually takes about 6 to 12 months to process, that's valuable time you lost on the statute clock! The IRS approves approximately 42% of the 80,000 Offer in Compromise submissions the receive every year. Most OIC rejections are due to paper-work issues or the OIC should never have been submitted in the first place.


THE TAX PROFESSIONALS AT FLAT FEE TAX RELIEF HAVE A 96% OIC APPROVAL RATE.

3. Submitting Penalty Waiver Before Ready - Don't request a penalty waiver (Penalty Abatement) UNTIL you meet all of the criteria. The three most important criteria for penalty abatement are: A. Be current on your most recent tax filing, filing and paying taxes due. B. Either have paid the taxes due or entered into an installment agreement. C. Have some explanation (this is called "reasonable cause") why you fell behind and indicate that you have "mended your ways." A Reasonable Cause has be many many things but you only get one opportunity at a penalty abatement, so it better be good. 4. First Time Penalty Abatement - If you have filed and paid your taxes and have a pretty good recent history with the IRS, all taxpayers qualify for a "first time penalty abatement" for one year.


This article is brought to you by tax professionals at Flat Fee Tax Relief. We are a coast to coast tax relief firm strategically located in Clearwater, Florida, and San Diego, California. We are licensed in all 50 states.



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