Settle Irs Debt
Q.I have seen commercials on tv by an attorney who states that their office can settle your IRS debt for "pennies on the dollar" Is this possible, and if so, do I need to hire an attorney to do it for me?
A.Yes it is possible to settle for pennies on the dollar -- if your circumstances fit the program. If you have few assets and live hand to mouth, you may qualify. You do not need an attorney, many practitioners can help. Avoid Offer mills like the one you are referring to. Offers is all they sell and you will find yourself lost in a bureacracy. Might be possible, depending on the answers to a lot of questions regarding your assets, ability to borrow money and potential for future earnings. Can you do it yourself? Maybe. Should you do it yourself? Probably not. Should you hire an attorney? Maybe. The very least you should do is talk to an attorney, enrolled agent or CPA who has experience handling offers in compromise. Yes it is possible and maybe you'll need an attorney. It will depend on the actual facts and circumstances of your particular situation. The best thing you can do is to go see someone who does taxpayer representation work - NOT ALL TAX PREPARERS DO THIS INCLUDING CPAs, EAs, or Attorneys do rep work -and have them go over your case with you. This will give you a fair analysis of whether you qualify and what it would cost to proceed.
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