The Internal Revenue Service or IRS has some people on their list who are indebted to them. This is often caused by unpaid taxes. Most people who are involved in these cases are willing to pay a great deal of money just to be safe from the problem at hand. When you have to deal with these issues, you can turn to some professionals who have the knowledge and expertise to deal with these cases in a legal manner. These professionals include the CPAs, enrolled agents, and tax attorneys. The use of various methods help to resolve these liabilities properly. The different materials that are used include offer in compromise, injured or innocent spouse defense, installment agreement, collection due process, collection appeal, injured or innocent spouse defense, and the like.
Based on the total amount that must be paid, taxpayers go for the offer in compromise option because they can get huge discounts from the total amount. When the taxpayer has paid the discounted amount, he or she will be free from their obligations already. Of course, there are pros and cons in choosing this option. For instance, if you want to get a discount for the total amount that you will be paying, you have to tell the IRS all information about your assets. When you become a taxpayer, you have to remember the value of the IRS and their capacity to monitor your taxes. Usually, taxpayers get a knock from the IRS when their offer is not accepted by the IRS.
Generally, the IRS accepts only 20% of the total offers that have been submitted to them. What should you do to be part of this 20% acceptance rate that the IRS is only receiving? Obviously, you require the brains of the tax expert that you have chosen to hire. To help you more, you can also take advantage of an IRS recommended tax software.
The use of an IRS recommended tax software is very common for tax experts. Only with this software can you be clear with the IRS tax problem of your client as well as analyzing the problem at hand. You can also make an evaluation if your client has the necessary requirements to avail of the offer. Furthermore, these professional software solutions will help your client prepare the necessary forms needed from them.
The success of an offer in compromise only becomes viable with a lot of manual work done by the assigned legal representatives of the client. Being the tax expert that you are, you have to use a lot of your time and effort to come up with the best solutions. Only with the use of IRS recommended tax software can you save a lot of your time and effort in dealing with the case of your client. The software also keeps you up-to-date about the latest changes that the IRS has come up with.