Item: Mike Habib, EA
Rating: 5
Author: April S.

How to Save Money in Taxes, Penalties, and Interest in Kansas City, MO Through the IRS Offer in Compromise Program

Metro Area- Kansas city

Due to IRS problems such as overwhelming back tax debt, more and more taxpayers are trying to qualify for the offer in compromise (OIC) program of the IRS. Taxpayers are interested in this program because not only does it solve your tax problems and finding resolution to your tax problems but it also could reduce the total amount you need to pay the IRS.

OIC programs not only reduce the back taxes due but also reduce taxes, penalties and interests accrued on the taxes due. Due to the benefits it provides, thousands of taxpayers every year apply for the OIC program, but only a small portion of them are accepted by the IRS. In the next few years, the number of such applications will continue to increase and so it'll be more competitive to negotiate OIC for taxpayers.

What do I have to do to be eligible for an Offer In Compromise?

You'll be eligible for an Offer In Compromise, if you have already filed your tax returns and cannot afford to pay the entire tax due. As a taxpayer, you will have to prove to the IRS that you cannot pay the taxes due to qualify for an Offer in Compromise. The OIC is a complicated process. It may take up to nine months and longer to get it approved by the IRS.

It is advisable to use the service of an experienced and expert tax relief provider such as an IRS licensed enrolled agent, tax attorney, or CPA for filing for an OIC. Any mistake in the process can increase to the possibility of rejection of your OIC.

Can IRS tax debt be settled by offering a fraction of what is owed?

The Offer in Compromise program is a breeze for the taxpayers who owe more tax than they can afford to pay. The offer amount that you propose to pay should be equal to or greater than the taxpayer's reasonable collection potential (RCP). It is not a percentage of the debt or 10 cents on the dollar as advertised by many tax resolution services.

However, the OIC is not a program for every taxpayer with financial problems. You cannot use it as a means of avoiding paying taxes.

The reasonable collection potential (RCP) is a calculated total of the taxpayer's realizable value in real and personal assets and his/her future income.

You should not file an Offer In Compromise solely to hinder or delay collection actions by the IRS. If they find out, your OIC will be rejected without any other consideration and without the right to appeal against the rejection. It is better to let a tax relief expert handle the process on your behalf if you really want your proposed OIC to be accepted.

Get expert tax help today by calling Mike Habib, EA at 877-788-2937

Tax problem resolution, IRS tax help and tax relief services in Kansas City, Overland Park, Independence, Olathe, Lee's Summit, Shawnee, Blue Springs, Lenexa, Kansas State and Missouri State tax relief services

★★★★★

Mike has given us peace of mind! He helped negotiate down a large balance and get us on a payment plan that we can afford with no worries! The stress of dealing with the IRS is huge and Mike helped us through it all. The peace of mind is invaluable, thank you Mike! April S.

Mike Habib - Thank you for being so professional and honest and taking care of my brothers IRS situation. We are so relieved it is over and the offer in compromise process went just as you said. Mike is very professional and will give you honest answers to the OIC process and you can really trust him. You won't be sorry you chose him! Joe and Deborah V.

Mike is a true professional. He really came thru for me and my business. Dealing with the IRS is very scary. I'm a small business person who works hard and Mike helped me see that they are not that scary after all. He was always there with the answers I needed and was very good about calling me back which I appreciated since your first reaction is to freak out and ask a million questions. He solved a messy case and worked very hard to resolve it. His rates are VERY reasonable for the amount of work he does! I give him my highest recommendation! Marcie R.

Mike was incredibly responsive to my IRS issues. Once I decided to go with him (after interviewing numerous other tax professionals), he got on the phone with the IRS immediately (as in the same day I signed with him) to squash an impending issue. And he worked directly with them to quickly come to a resolution I am very happy with. I'd highly recommend reaching out to Mike to see if he can help you with any IRS issues. I'm very satisfied! Marshall W.

I’ve seen and heard plenty of commercials on TV and radio for businesses offering tax help. I did my research on many of them only to discover numerous complaints and unresolved tax issues. I found Mike Habib through my own online search and contacted him. He was very professional with great communication, always answering my questions and concerns. Mike resolved my complicated tax problem just as he said he would. I would definitely recommend his services to family and friends. Nancy & Sal V.

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