The Mission Statement of the Tax Resolution Blog?

We created the Tax Problem Resolution Blog to aid the average person to become more discerning buyers of tax resolution and tax representation services. Please read the index of articles below to learn more about the tax resolution industry and to assist you in solving your specific tax problem.

Jay Freeborne, Enrolled Agent at Washington Tax Services, open for business since 1989

Tuesday, August 3, 2010

The Collection Process and the Offer in Compromise

Happy summer, folks.

A common question I get from clients and prospective clients:  "I am in IRS collections.  What happens if I file an Offer - will that stop the collection process?"

1. If you are receiving "intents to levy,"  your Offer will automatically suspend the collection process.

2. If you are being levied - wage garnishment or bank levy, for example - you will have to resolve that issue with IRS collections separately from the Offer in Compromise by providing the IRS financial statements (orally or written).

In 2012 - the Offer in Compromise had their most DRAMATIC rule changes to date Offer in Compromise Rule Changes - HUGE!

If you want an HONEST AND INEXPENSIVE solution to your tax problem please call me or my staff at Washington Tax Services:  My direct line is 1-866-525-7302 or email me at jfreeborne@watax.com.  

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