Loss of Personal Assets 14. Loss of Business Assets 15. Levies
and Wage Garnishments 16. Cash Receivership( aka Blocked Bank
Account)
17. Offer In Compromise
An (OIC) is an agreement between a taxpayer and the Internal
Revenue Service that settles the taxpayers tax liabilities for less
than the full amount owed. Absent special circumstances, an offer
will not be accepted if the IRS believes that the liability can be
paid in full as a lump sum or through apayment agreement .
18. Three Types of OICs
Doubt as to Collectability
Doubt as to Liability
Effective Tax Administration
19. Doubt as to Collectability
Doubt exists that the taxpayer could ever pay the full amount
of tax liability owed within the remainder of the statutory period
for collection
20. Doubt as to Liability
A legitimate doubt exists that the assessed tax liability is
correct. Possible reasons to submit a doubt as to liability offer
include: (1) the examiner made a mistake interpreting the law, (2)
the examiner failed to consider the taxpayers evidence or (3) the
taxpayer has new evidence.
21. Effective Tax Administration
There is no doubt that the tax is correct and there is
potential to collect the full amount of the tax owed, but an
exceptional circumstance exists that would allow the IRS to
consider an OIC. To be eligible for compromise on this basis, a
taxpayer must demonstrate that the collection of the tax would
create an economic hardship or would be unfair and
inequitable.
22. OIC Payment Options
Lump Sum Cash Offer 23. Short Term Periodic Payment Offer 24.
Deferred Periodic Payment Offer
25. Who Can Help??? 26. Why Choose Solutions?
Other organizations plagued with complaints 27. Solutions is
the only organization that provides other accounting services 28.
Solutions offers financing options for services rendered 29.
Solutions is locally owned and operated
30. IRS Warning
Taxpayers should beware ofpromoters claimsthat tax debts can be
settled through the offer in compromise program for "pennies on the
dollar".
31. Other Services We Provide
Monthly & Quarterly Financial Statement Preparation and
Analysis 32. Payroll Administration 33. Installation &
Maintenance of Computerized Accounting Systems and Networks 34.
Business Plans and Loan Packaging 35. Corporate, Partnership,
Fiduciary & Individual Income Tax Preparation.
Business Set-Up, Acquisitions & Dispositions 36. Grant
Writing & Proposals 37. Incorporations (C-Corporations,
S-Corporations, LLC, LLP, PA) 38. Financial Analyses and
Forecasting 39. Efficiency Improvement 40. Other Services (designed
to fit your needs)
41. OurClientele
Health Care (Hospitals & SNF) 42. Professional Services
(Legal, Real Estate, & Insurance) 43. Retail 44. Not For
Profits (Churches, Schools, Civic Organizations) 45. Entertainment
(Artists, Musicians, Producers) 46. Independent Contractors (Mary
Kay, Avon,etc.) 47. Construction & Property Management 48.
Investors (Real Estate, Stock, & Other)
Individuals and /or Business with Tax Problems (i.e.
Garnishments, Levies, Liens, etc.) 56. Businesses Experiencing
Growth 57. Businesses with 3 or more employees on payroll 58.
Businesses wanting to secure financing 59. Individuals desiring to
go into business 60. Anyone Required that wants aRELATIONSHIP WITH
THEIR ACCOUNTANT!!!!
