Couple Reducing Debt - Palm Beach Gardens, FL

Reduce Debt with an Offer in Compromise in Palm Beach Gardens, FL

When you owe the IRS a huge tax debt settlement, don’t assume you must pay in full. In some cases, the IRS will accept a much smaller settlement if you apply through their compromise program. Let Tax Help MD be your guide to Offer in Compromise in Palm Beach Gardens, FL.

Our tax negotiation team has resolved cases in which a client has owed the IRS over $100,000 and settled with the IRS for less than $1,000. Not all clients are eligible for such profound savings, and each client's tax situation is unique. However, it is more than worthwhile to investigate if you are eligible and work with a professional to boost your chances as much as possible.

Tax Professionals - Palm Beach Gardens, FL

How We Help

You shouldn’t attempt to apply for the Offer in Compromise program on your own. The process is quite complex, and there are numerous ways that an amateur might inadvertently hurt their case. Not to mention -- unless you already have extensive experience preparing their types of tax statements like our team -- you will find it difficult to secure the best possible settlement. You must prove beyond any reasonable doubt that you are incapable of meeting their necessary living expenses after paying the outstanding tax debt through a conventional installment agreement.

Work with us for help in reducing your debt as much as possible. We will not only explain the guidelines for applying for the program but also walk you through the entire process. Count on us to present your case effectively and demonstrate that you meet the IRS’s criteria for debt reduction. Our process follows these three steps:

Submit an Application:

The first step toward eligibility is to submit a properly prepared application. Our IRS tax settlement experts will prepare this document with you to ensure everything is in order.

Prove Insufficient Funds:

Next, you must demonstrate that you will not have any funds left over after your living expenses to pay the IRS. Our tax professionals help you present your proof in the best possible light.

Receive a Settlement:

After we’ve submitted your application, the IRS will grant you a smaller settlement rather than the actual amount of back taxes you owe -- assuming you’re eligible. We ensure this final step goes smoothly and answer any questions you may have.

Disclosing Your Assets, Income, and Expenses

To apply to the IRS’ Offer in Compromise program, you must submit a financial statement known as Form 433-A. In this statement, you disclose all of your assets and income, as well as your necessary living expenses.

Based on this information, the IRS determines how much money you must pay to support yourself and your family, if relevant. These support cost will be deducted from your income to determine how much income remains for fulfilling your back tax obligations.

Count on our staff to help you complete Form 433-A correctly to better your chances of reducing debt. We’ll help you determine what is and isn’t necessary living expenses and ensure your application presents your case effectively.

Request a Free Consultation Today

Find out if you’re a good candidate for back tax reduction by requesting a consultation from our team. We’ll answer your questions about the program and explain how we help clients like you settle your debt with the IRS.

Contact us to learn more about how we solve your back tax problems. We’re located in Palm Gardens, Florida, and serve clients from throughout the surrounding area.