You have tax debt and need help. We’re here to walk you through the tax collections process and develop a personalized plan to address your tax situation.
Let’s review our debt resolution process.
To begin with we can assist at any stage of the process:
- Are you about to file your tax returns but don’t have enough money to send in payment - we can help
- Are you receiving notices from the IRS about your tax debt - we can help
- Did the IRS notify you that they intend to file a Notice of Tax Lien - we can help
- Were you just notified that the IRS intends to seize / levy your property - we can help
- Has the IRS already started taking your property - we can help
In other words it’s never too early or too late for us to help.
First up - who am I / why should you trust me to resolve your tax debt. I’m a sole practitioner with my office in Plymouth MA. I use software services in all aspects of my practice so that I’m able to provide services to clients across the country. I have over thirty five years of professional experience which included over twenty five years at Deloitte Tax where I was a partner. My education includes a Bachelor of Science in Business Administration - Accounting from Boston University and a Masters in Taxation from Bentley University. I also completed the IRS Representation Certificate Program at the University of Connecticut.
In addition to providing professional services I served as an Adjunct Professor at Suffolk University where I taught a Masters level course in taxation as well serving as a technical resource in the area of partnership taxation working and consulting with the Deloitte Tax Washington National Tax Group
Now let’s discuss pricing. As of July, 2022 we charge $1,500 for an analysis / consultation - from there we charge a total fee of $5,000 for an Offer In Compromise (net payment of $3,500 after applying the amount paid for the consultation) and $3,500 for an Installment Arrangement or Currently Not Collectible status (net payment of $2,000). Fees are payable in advance of services being provided.
These fees include preparation of all IRS forms and compilation of supporting documentation. It includes submission of all forms and documents to the IRS and dealing with them throughout their processing of your case through their determination. Note that in our experience many Offer In Compromise submissions benefit from review of the IRS “Appeals” office -i.e. a better deal can be struck after the IRS has made their initial determination - at the Appeals level. Fees for this appeal process are not included in the fee noted above. Fees for this work are done at our standard hourly rate - $350. A retainer of $2,500 is required. In our experience over half of Offers are taken to Appeals.
OK so now what do your get for the initial consultation? In this process we review your individual situation - using your income / expenses, asset / debt information. You provide us with a “Power of Attorney” form so that we can access your tax information directly from the IRS (contained in your tax records - “transcripts”).
We then utilize software to analyze the transcript information as well as information provided by you and we apply relevant IRS rules (i.e. the “quick-sale” rule applicable to assets, local and national standards that apply to expense items, special rules that apply to automobile values and operating expenses, etc.).
We then present you with specific alternatives available to you - which could include an Offer In Compromise (reduction in tax debt), Installment Agreement (payment of debt over time), status as Currently Not Collectible (the IRS ceases collection activities for a period of time), etc. At the end of the consultation you’ll have an understanding of debt resolution alternatives specifically relating to your debt.
Should you choose a debt solution alternative we will then go though the process of preparing the appropriate tax forms and we’ll gather documentation relating to your assets, debts, income, and expenses. We’ll then complete a package for submission to the IRS. Once the filling has been received and logged by the IRS we will communicate with IRS personnel - where we will describe your particular situation, answer any questions, and provide any additional requested documentation. During this process we’ll be in contact with you as your case progresses.
This process is significantly different than the process that we go through with preparing a tax return. For return purposes Congress has enacted a huge volume laws and the IRS has issued countless regulations that describe the application of these laws. With respect to the collection of outstanding taxes Congress provided the IRS with significant authority relating to implementing the law.
The IRS does provide an outline of their practice and procedures related to the collection process - through a series of documents referred to as the Internal Revenue Manual. The broad goal of the collection process is to collect outstanding tax debts while taking into consideration a taxpayers particular facts and circumstances. With respect to collection activities Congress instructed the IRS to ensure that taxpayers “have an adequate means to provide for basic living expenses”.
Since the debt collection process differs from the tax compliance process you benefit from a professional with experience dealing specifically with the collection process as well as an understanding of IRS practice and procedure and a knowledge of tax law.
We represent our clients in the collection process. Our objective is to provide a clear picture of your finances to the IRS - your assets and debts, your income and expenses. We apply IRS rules that relate to making this determination. We take into account your particular circumstances in presenting your information to the IRS. Throughout the process we use our knowledge and experience in dealing with the collection / resolution process.
We also provide tax return preparation services as well as assistance with business accounting. In addressing any collection situation the IRS requires that you are current with your tax filing obligations - you’ve filed all tax returns that are due and you are making payments towards your current year tax obligation (through wage withholding and/or the payment of estimated taxes). Before considering any collection alternative the IRS needs to know your total tax obligation. They will not discuss collection alternatives until you are in “compliance”. Many of our clients have outstanding tax returns. We are available to prepare and file tax returns before we begin our efforts in the collection area.
Link to Outline Slides: Keynote Outline - Our Process
Link to Video: Tax Debt Resolution
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