Top Legal and Financial Services in Colorado Springs, CO
Perferred
Recent Reviews View all
Phil Long Lincoln
By garmonml@aol.com January 31, 2019
Great job ...read more
Phil Long Lincoln
By garmonml@aol.com January 31, 2019
Great job ...read more
Phil Long Ford at Chapel Hills
By Patricia Fair December 05, 2018
Big shout out to Ean, Sonny, and Justin, at Phil Long Ford of Chapel Hills in Colorado Springs. Instead of always buying used cars for the wife, was able to get her into a new 2018 Ford Ecosport. I am disabled, and it was a fast pleasant experience. Will definitely be a return customer. ...read more
New Photos 490 photos
Blogs View more
Process of an Offer in Compromise
There are 2 reasons you can make an Offer in Compromise: Doubt as to Collectibility & Doubt as to Liability, or both. To start the process of an Offer in Compromise for Doubt as to Collectibility you must complete Form 656, which is included in the Form 656-B booklet. To start the process of an Offer in Compromise for Doubt as to Liability use Form 656L, included in the Form 656L booklet. To see if you can “pre-qualify” use the IRS OIC Prequalifier tool. You must not be in a bankruptcy, have filed all tax returns, made any estimated payments required & made all required employee tax deposits, including the supplement. However, in order to complete the Pre-Qualifier you have to complete Form 433(OIC), which is essentially the same as the Form 433A, used in general IRS collections. You can make a lump-sum offer (preferred) or a payment plan which will extend for 5 years, based on the bankruptcy rules. During the offer the IRS may file a lien but they will suspend collection activities. However, just by making an offer (regardless of whether it is accepted or not) all applicable statutes of limitations will be extended by the time period the offer is being considered plus 1 year. Given the IRS rate of rejection, it should be anticipated that you will have to Appeal an unfavorable ruling. (See Form 13711. For Offers based on Doubt as to Collectibility you goal is to show you can’t pay and won’t be able to pay in the foreseeable future. For offers based on Doubt as to Liability you must show you don’t owe it, much like an Audit Reconsideration. Please take our Webinar for Form 433A to prepare you to make an Offer in Compromise. Every case requires different levels of proof & different qualifications. For Doubt as to Collectibility in general, be prepared to show you have a lot of on-going bills or support obligations. It helps if you have some kind of medical or physical malady. So, please obtain any doctor or medical reports you have on yourself or family member to give to the IRS. For Doubt as to Liability you may have to dig deep into your old records to get the evidence. Fortunately our online Audit Defense Program shows you how to get your evidence and present it to the IRS to win! In either event it is helpful to have legal advice PRIOR to making an Offer with the IRS. An offer is only 1 tool to be used to reduce or erase your IRS debt. ALL options should be explored before making a decision. So, you need to obtain your Account Transcripts from the IRS, gather your tax returns, your credit report, any divorce or bankruptcy papers & all IRS notices you have received. Call our office so we can sit down & create an Action Plan to fight the IRS! J. David Hopkins ...read more
By Hopkins J David LLM-Tax Help Law December 13, 2016
Team Strategty Inc. | The "Four Pillar" Management Company.
By providing a wide array of services, Team Strategy is uniquely qualified to provide low cost, value-added, services to its clients. Visit our website today. http://teamstrategyinc.com ...read more
By Team Strategy Inc | Homeowner Association and Real Asset Property Management October 12, 2016
Blowfrog
Contact Fitzsimmons at (719) 301-6512 in Colorado Springs, CO, to get financial advising on an accounting program in order to claim your money. ...read more
By Blowfrog July 16, 2015