Tax Help: Five Fatal Errors to Avoid during the IRS Offer in Compromise Process in Bakersfield California
Metro Area: Bakersfield-Delano CA MSA
If you are a taxpayer in Bakersfield or Delano in California, you must be aware of the pitfalls encountered while dealing with the IRS. This article describes the five common mistakes made by the taxpayers during the IRS Offer in Compromise (OIC) process. Make sure you don’t repeat these mistakes or you will find yourself in a deeper mess.
1- Doing It Yourself
Cost of doing it on your own is much more than the cost you might have to pay for a tax professional. Offer in Compromise or any other debt consolidation program offered by the IRS is a legal and technical process which involves a lot of paperwork. One minor mistake can put you in a bigger trouble. It is a fact that a very small mistake in OIC form can result in the refusal of your request. Typically only 23 percent of the OIC requests are accepted by IRS i.e. one out of four. However, when you hire a tax professional these chances are amplified five times.
2- Not Filing a Tax Return When Due
You must always file your tax return even when you don’t have enough money to pay the tax. This will not only save you from penalties but also enhance your credibility. IRS will not always bail you out; it is just one time favor. You must file your tax returns and make on time payments in future in order to convince them of your good intentions.
3- Not Making on Time OIC Payments
If you do no make on time payments during the OIC process, IRS will not take it seriously at all. You must fully comply with the terms and conditions agreed upon; file tax returns and make on time payments. The OIC process may continue for five years or until the full amount owed by you has been paid. Remember, IRS tax is not a joke – it can put you behind bars.
4- Trying To Deceive IRS and Hiding Information Or Documents
Don’t fall for enchanting movies’ scenes with tycoons hiding their money in the Swiss banks. The IRS knows all your money hiding secrets. Sooner or later they will uncover all of your financial secrets. Cheating or bluffing the IRS will only aggravate them and they will come after you even strongly. Likewise, don’t try to hide any information or documents you are being asked for.
5- Acting Aggressively Toward Anyone At The IRS
You may not find the IRS officers or agents very polite or cooperative. They may be harsh and even bullying sometime. However, you must be gentle with them because fighting fire with fire will cost you, not the IRS. This is where your tax professional i.e. an enrolled agent comes in. IRS agents will be reasonable with your tax representative and will deal in a professional way.
To get rid of your IRS tax problems and start your OIC process in Bakersfield or Delano all you have to do is call Mike Habib, EA at 1-877-78-TAXES.
Tax problem resolution services, IRS tax help and tax relief services in Bakersfield, Delano, Arvin, McFarland, Ridgecrest, Shafter, Tehachapi, Wasco, California City, Maricopa, Taft, Oildale, Lamont, Rosamond, Kern County tax help and other cities in the state of California.