Offers in Compromise – Glendale Debt Relief Lawyer
Legal Help When You Cannot Repay Your Tax Debt
It is not uncommon for Americans in all walks of life to feel overwhelmed by their tax debt. Discovering a way out can be difficult, if you go through this process alone. At RJB Law Offices, our Glendale tax lawyer can explore the option of using an offer in compromise with the Internal Revenue Service (IRS) to resolve your debt more easily.
Offer in Compromise Processes
Not everyone will be approved to use an offer in compromise when facing overbearing tax debt. The IRS will analyze each offer on a case-by-case basis, considering the petitioner’s ability to pay off the complete debt, how much income is earned in an average month, and necessary living expenses. The procedure first begins with an application, which cannot be submitted if any filing and payment requirements are currently not met. The offer package you present must also be paired with a Form 433-A and Form 656.
Key points of interest to consider are:
- Nonrefundable fees and payments count towards tax liability
- Filing a Notice of Federal Tax Lien could be necessary
- Secondary collection processes are halted
- Extension granted for collections and legal assessment
- IRS has two years to decide, or else decision defaults in your favor
If your offer in compromise is accepted by the IRS, you will need to choose what sort of payment option you would like to use: lump sum cash or period payment. In a lump sum cash solution, you are expected to pay 20% of the offer amount upfront and the remaining 80% in five or less subsequent payments; depending on your tax situation, you may be expected to make only one subsequent payment a year. For period payments, you pay an initial payment amount followed by monthly payments until the IRS responds to your compromise offer.
Regain Your Footing with Our Tax Law Professionals
It is important for you to begin looking for solutions to your tax debt sooner than later. Our tax resolution attorneys in Glendale earnestly want to see you standing on solid ground again, having found a way through the stress and pressure of tax debt. We can deliver personalized attention to your case paired by compassion and top-tier legal knowledge.
Contact us today to begin your free online consultation.
REAL STORIES FROM REAL PEOPLE
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Past Client
Discussing my situation with Ray was incredibly helpful.
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Past Client
My husband and I are very pleased with how RJB Law Office helped us in our financial situation and appreciate the continues tips to better ourselves in our finances and building up our credit.
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Past Client
Excellent service and very good advice.
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Past Client
Genuine, capable and kind.
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Past Client
Ray and his firm took great care of us during difficult times.
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Past Client
Attorney Bulaon was attentive, personable, professional, and clearly explained all the available options.
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I would like to take a moment to say that I am truly grateful for your professional and personal assistance in this matter.
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I just want to thank you for helping me through this difficult time. My life is finally moving forward.
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We are as grateful as those who have sought your help and are now enjoying a debt-free life.
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Thank you for helping us in time of need. Now we can start a new life.
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Thank you so much for accommodating us and your sound advice.
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You were all very caring, professional and understanding through it all. Thank God that we came across Atty. Ray Bulaon.
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I am telling all my friends, if they have financial problems, go to RJB Law Offices and surely, they will be helped.
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Thank you for everything. You will always be included in our prayers.
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We can breathe easier now. We wish to thank you and all the members of your office.
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Your help has made me emotionally and financially stable. Now I have the chance to move forward.
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The experience, honesty and integrity of your law firm have helped me and many others get that chance to build a better financial future.