A lot of people actually have debts to pay the Internal Revenue Service or IRS. Unpaid taxes are the number one cause for these debts. If you have been found to have debts to pay by the IRS, for the most part, you are willing to do and pay whatever it takes to be rid of the problem. There are some people who have the expertise and knowledge to help you deal with these things the right way, that is in a legal way. Tax attorneys, CPAs, and enrolled agents are just some of them. They are knowledgeable in taking care of these liabilities with the use of various materials. The different materials that are used include offer in compromise, injured or innocent spouse defense, installment agreement, collection due process, collection appeal, injured or innocent spouse defense, and the like.
Based on the total amount that must be paid, taxpayers go for the offer in compromise option because they can get huge discounts from the total amount. Being clear from their obligations is an assurance with this discounted payment. If you select this option, you can enjoy a range of pros and cons. While you get the benefit of paying at a discounted amount, you have to disclose all information about your assets to the IRS. As a taxpayer, you have to understand that the IRS is paid to always monitor your taxes. Expect to get a knock from the IRS the moment your offer will not be accepted by them.
For the most part, only 20% of the submitted total offers are accepted by the IRS. What must you do to be a part of this 20% of accepted offer by the IRS? Of course, you have to use the brains of the tax expert that you have hired. Also, you need an IRS recommended tax software option.
If you are an expert of taxes and you want your clients to get the best outcome for their case, the use of an IRS recommended tax software is a must. To better analyze your current tax standing and issue, the use of this software will do as well as in giving the right diagnosis of the IRS tax problem that your client is facing. You can also make an evaluation if your client has the necessary requirements to avail of the offer. Moreover, professional software solutions are around to help in the preparation of forms that are required for your case.
According to surveys, an offer in compromise is processed with the manual work of representatives. You can only accomplish these things using a lot of your time and effort as a tax expert. Only with the use of IRS recommended tax software can you save a lot of your time and effort in dealing with the case of your client. Aside from that, this software will give you some updates on changes that are occurring in the IRS.