IRS Offer In Compromise Observations
As previously discussed, when IRS receives Offer in Compromise packages from
taxpayers across the country, their OIC staff review the paperwork and
frequently find errors or omissions. They then immediately mark the Offers as
"Unacceptable for Processing" and return them to the taxpayers.
So the taxpayer must start all over. Correct the forms. Write another check to
cover the $150 application fee. Resubmit the Offer. Hope for the best.
In the meantime, IRS can send out additional levies to employers and banks and
try to get more money from an already frustrated taxpayer.
So that's the problem.
Is there a solution?
Sure there is. It's called Seek Professional Assistance.
I recommend that you spend some time educating yourself regarding the IRS Offer
in Compromise program. Learn about how the OIC program works.
Then educate yourself on the professionals out there who provide OIC help. I
have a lot of competition out there, but not all of that competition is good,
honest, reputable, or trustworthy.
I've noticed that none of my competitors offer any kind of guarantee to cover
their work. That's one of the reasons that I developed an Offer in Compromise
Guarantee that protects the public and also helps sets me apart from my
competition. More about this guarantee on the next page.
My opinion is that this is a pretty tough business to be in, but if you're going
to be in it, then you should be prepared to back up your claim to fame.
Here are a few observations and opinions that I've developed over the years:
- Promising "pennies on the dollar" settlements sounds good, but not
everyone will qualify for this deal.
- Using commissioned salesman to handle the initial phone calls puts the
taxpayer at a distinct disadvantage because the salesman won't make any
money unless the taxpayer sends in a check. My personal opinion is that if
you just spend a couple of minutes with one of the cable television
advertisers, you'll see what I mean. You know who I'm talking about. There
are only two or three or four of them. Ask if they offer any kind of a
guarantee.
- People who need this kind of help are frightened to begin with and
don't need a commissioned salesman to tell them that they are going to lose
everything if they don't sign up right now and send in a check for $1,800 to
$2,500 as a down payment.
- I prefer to have me or one of my highly-trained OIC staff members (I
only have a couple of them) talk to you on the phone and go through a series
of questions that will help determine your ability to benefit from the Offer
in Compromise program.
- If you make too much money or have too many assets or won't qualify for
an Offer in Compromise, I think you deserve to know it up front and not
three or six months down the road after you've paid me over $3,000 and
received nothing for it. Just read some of the complaints about several of
these large national firms.
- Rather than having clients who know very little about the OIC program
and process, I prefer to have an educated client who understands what's
going on. That's another reason I recommend that you do your homework and
educate yourself on at least the OIC basics before you decide to give any of
your money to anyone for such an important life issue.
- Maintaining a knowledgeable and friendly attitude and telephone
personality is better than being confrontational, authoritative, combative,
or discouraging.
- A willingness to share that knowledge and educate people who haven't
paid me a dime yet (and might never become paying clients) is one
of the best advertising programs ever developed.
- Maintaining a sense of humor during a period of tremendous pressure and
anxiety can help calm people down and convince them that the world and their
lives are really not going to end.
- One of the best rewards of my work is to get an email or a phone call
from a client thanking me for returning his/her life back to normal.
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