Nothing gets me madder than hucksters taking advantage of people, (first name) and this is no exception!
Maybe you’ve heard those folks on the radio, or television, who are pitching how their company can settle tax debts for “pennies on the dollar?” Well, here’s my take on that…
They can’t. The truth is, the IRS makes an “Offer in Compromise” (also known as an OIC) in less than one third of one percent of ALL tax situations, and if they decide you can pay the debt you owe via a series of installment payments stretching out for years?
That’s what they’re going to do. The IRS even says so much right on their website…
“An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles a taxpayer’s tax liabilities for less than the full amount owed. Taxpayers who can fully pay the liabilities through an installment agreement or other means, generally won’t qualify for an OIC in most cases.”
So why do these big companies make it sound as though they can take your tax bill and get it reduced? Simple: That’s how they make money. Now, it’s important to understand I’m NOT specifically pointing out a singular company that does these types of predatory representation, because frankly, their lawyers are always on the lookout for folks like me calling them out on their shady dealings, but they WILL take your money – a lot of it – and they will NOT lower your tax bill.
You’ll end up paying the IRS exactly what you owe them except you’ll have wasted a lot of money trying (vainly) to get that bill to be lowered.
Here’s my take on it… If you owe the IRS anything, you have a duty to repay that debt. There are a lot of ways to mitigate that debt, or to set up payment plans that make it a little easier to swallow, but going to those national companies to try to get the tax bill lower is a surefire way to spend even more.
If you’re stuck with a bill, then let’s talk about your options. We might be able to get things sorted, or we might have to do a little legwork, but either way?
You’ll get the truth from my team and I and you’ll keep more money in your pocket.
Let me know how we can help!
All the best,