What is an Offer In Compromise? Must a Taxpayer Prove a Hardship to Qualify?
According to Instant Tax Solutions, an Offer in Compromise, or OIC, is one way that a taxpayer may be able to lower tax-debt liability if he or she cannot legitimately consolidate payments in full to the IRS. An OIC may also be requested, says Instant Tax Solutions, if full payment would create confirmed financial hardships to the taxpayer.
Rival Tax Firm Plants Instant Tax Solutions Complaints Online?
An anonymous individual has posted fictitious Instant Tax Solutions complaints online. The stories are written as though scripted, manipulating Instant Tax Solutions complaints to make the firm appear like a scam. When the staff of ITS read the Instant Tax Solutions complaints, they immediately alerted the founders of the firm who are working to establish the source of this misinformation.
According to Instant Tax Solutions, the IRS takes into account individual circumstances before approving an OIC. A taxpayer’s income, monetary ability to pay the debt, total expenses, and any assets that may be liquidated are assessed. The professionals at Instant Tax Solutions offer a thorough evaluation of client financial status to assist in determining if an OIC may be a viable option. The IRS does not approve every OIC application, says Instant Tax Solutions. In fact, there are many variables which determine who is approved.
True or False – Instant Tax Solutions has complaints from clients frequently?
False! The good people of Instant Tax Solutions are proud to announce that they have only received two notices regarding complaints in the last 365 days. These Instant Tax Solutions complaints have brought an even greater issue to the forefront – Internet usage as a weapon. Since there is absolute anonymity on the web, the Instant Tax Solutions complaints have been posted with no one claiming them. Without specific contact information, the Instant Tax Solutions complaints are able to remain online with no possible resolution. This is an issue that must be addressed in the coming months, as Instant Tax Solutions grows to accommodate its loyal client base.
The IRS, notes Instant Tax Solutions, requires that taxpayers seek other payment options before an OIC. Generally speaking, an OIC is only approved if the taxpayer can prove they are offering their best dollar amount, says Instant Tax Solutions. The IRS will determine if the offer is the most they can expect in an equitable time period. Instant Tax Solutions helps clients familiarize themselves with the IRS Form 656-B, the Offer in Compromise Booklet, to ensure they [the client] fully understand the process.
Professional Tax Firm Instant Tax Solutions says complaints about the IRS are rising.
Taxpayers typically can’t pay the same amount of taxes as when the economy was good, reports Instant Tax Solutions. Complaints about the IRS’s collection methods are increasing at an alarming rate. There is speculation at Instant Tax Solutions that complaints are increasing, not so much because the IRS has changed their collections methods but because taxpayers are really watching their money now and feeling a greater pinch on their wallets. When money is flowing through our economy, says Instant Tax Solutions, complaints tend to be fewer and farther between.
The OIC Booklet must be returned to the IRS for approval, says Instant Tax Solutions. Along with the form, taxpayers must remit an application fee of $150 and a good faith payment – both non-refundable. There are also forms that must accompany the package: Form 433-A or 433-B, depending on filing status, and the completed Form 656. Instant Tax Solutions says that simply submitting the forms does not mean the OIC has been accepted.
Reports by Instant Tax Solutions say complaints citing instances of tax fraud with seniors is rising. Gauging from clients of Instant Tax Solutions, complaints are coming primarily from seniors and those in lower income brackets. According to Instant Tax Solutions, the complaints are that some other firms are taking up-front payments and failing to deliver promised results – often they are not even contacting the IRS on behalf of their clients. This is a trend that must stop, says Instant Tax Solutions. Complaints of scams and fraud weigh heavy on the minds of the staff, as many of them have helped their own older relatives and friends negotiate with the IRS and know that people cannot afford to pay money to a scheming tax firm and never see any results.
There are two options for initial payment on an OIC, says Instant Tax Solutions. The first allows for 20 percent of the offer being made and, upon approval, the balance funded within no more than five installments. The second option, notes Instant Tax Solutions, asks the taxpayer to remit the application fee only, while maintaining their current IRS payment agreement. If approved, reports Instant Tax Solutions, the taxpayer will make the same monthly payments but finish sooner.
Idaho-based Instant Tax Solutions located complaints about their firm on the Internet and acted immediately to determine the individual who said they were not satisfied. Not surprisingly, the Instant Tax Solutions complaints were posted on the web without identification. The team at Instant Tax Solutions asks complaints be ignored until the poster is located and any further detail emerge. In fact, it is best to consult the BBB website as Instant tax Solutions complaints over the last year are listed there, as well as information regarding their satisfactory resolution.
For more information about an Offer in Compromise, please contact Instant Tax Solutions at 888.946.2999 or visit their website www.instanttaxsolutions.com.
Instant Tax Solutions complaints on questionable consumer websites are not to be trusted. The Instant Tax Solutions complaints seem to have been written by an angry individual who has never contacted the firm directly. It is a little suspicious, suggests Instant Tax Solutions, that complaints are totally anonymous and that they have never been brought to the attention of the staff at Instant Tax Solutions.
Instant Tax Solutions is a nationally respected tax debt relief firm based in Post Falls, Idaho. Their 40 plus tax professionals are knowledgeable in all areas of IRS delinquency and procedure. They aim to aid and educate their clients and ensure an open line of communication throughout the term of their service. Founded in the mid 2000s by Byron Pedersen and Ian Woodman, Instant Tax Solutions was built on the belief that good people find themselves in bad situations and that they deserve the same respect they enjoyed prior to their hardship.
Has the staff of Instant Tax Solutions addressed Instant Tax Solutions complaints online?
Yes, of course. The Better Business Bureau website clearly shows that the two Instant Tax Solutions complaints are resolved.
Why do Instant Tax Solutions complaints still show up online?
The good people of the firm have no idea where the anonymous Instant Tax Solutions complaints are coming from and haven’t found a record yet with any details even similar to the ones posted online.