INTERNAL REVENUE SERVICE

Understand and Meet Your Tax Obligations

We have worked with thousands of clients to help them resolve their IRS Issues. The IRS is the most aggressive creditor out there. Their entire focus is to instill fear in taxpayers to force them to comply. You never want to operate or make decisions out of a state of fear. We routinely help clients setup affordable payments plans, reduce penalties and interest through abatement requests, resolve secured lien issues, and negotiate offers and compromises with the IRS, which can often allow a tax payer to pay cents on the dollar to resolve their tax debt.

Installment Agreements

For many of our clients, we are able to get affordable payment plans setup with the IRS. Usually the IRS will allow 72 months to repay the debt. In addition, for some clients we are able to get monthly payments as low as $50.00 per month. The process is fast and we can get an installment agreement completed in 30 to 60 days for most clients.

Office in Compromise

This can be one of the most powerful tools at your disposable. The IRS allows taxpayers to make offers to resolve their tax debt through the offer in compromise process. This allows a consumer to make an offer to the IRS to resolve their entire tax obligation. For example, if you owe $50,000 to the IRS, an offer in compromise would allow you to make an offer to pay $5,000 to resolve the total obligation. In order to have an offer approved, you must show that you don’t have the resources to pay the entire obligation in full

Abatement Request

Sometimes, you trust the wrong person. I have worked with hundreds of clients who had accountants/cpas who have made mistake after mistake. The IRS doesn’t seem to care and charges you for the penalties and interest for those mistakes. The abatement request process is where you can ask the IRS to forgive the penalties and some of the interest. Often times a CPA makes an error that the client had no idea about, and you can use that to your advantage to have the penalties and interest removed. 

The IRS evaluates abatement requests on a case-by-case basis, the key to having an abatement request approved is showing that the error was a one-time event and that since, you have been in compliance with your tax obligations.

Bankruptcy

In some cases, bankruptcy can help eliminate all of your IRS debt. The general rule in bankruptcy is that the IRS debt must be older than 3 years, and the tax return must have been filed timely. If those conditions apply, you may be able to discharge the entire obligation in a bankruptcy proceeding.

Recent Results for Clients

We submitted the Offer in Compromise in May, offering to pay the IRS $4,994.93 in 5 installments. Client’s offer was approved in November (6 months). The client saved over $54,000 in taxes!

We submitted the Offer in Compromise in September, offering top pay the IRS $29,309.52 in 5 installments. The IRS accepted the offer 10 months later. The client saved over $90,000 in taxes!

We submitted an offer of $5,736. The IRS rejected our offer, however, we appealed it and provided clarity on certain deductions. The IRS was only given the taxpayer a deduction of $540 for his work truck. Debtor’s work truck payment was $1250 per month. We explained to the IRS that his truck was necessary for his job and they allowed the higher deduction. The Offer was approved in 5 months. The client saved over $42,000 in taxes!

We submitted an offer of $2,581.00 to be paid in 5 installments. The IRS first rejected the offer, but we were able to appeal it and get it approved in 9 months. The client saved over $47,000 in taxes!

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Herrin Law, PLLC,
4925 Greenville Ave.,
Suite 455
Dallas, Texas 75206
469-607-8552

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