< iframe width=" 480" elevation=" 320" src=" https://www.youtube.com/embed/-p11o8KvWPE?rel=0" frameborder=" 0" allowfullscreen >< img style=" float: left; margin:0 5px 5px 0;" src=" http://taxdr.org/wp-content/uploads/2021/07/Xp8EXb.jpg"/ > http://irshelpchicago.com/taxhelp/offer-in-compromise-rules-tax-debt-settlement-chicago/ Chicago IL: Why the Internal Revenue Service is breaking down There is one method of leaving financial debt with the IRS that's been abused much more than any other. This method, offers-in-compromise, has actually ended up being downright controversial- a lot to ensure that the IRS made adjustments to the" regulations" regarding this financial debt alleviation approach for both taxpayers as well as tax relief professionals. When the act that enabled Offer-in-Compromise passed, it was like a gigantic Pandora's box opened. Suddenly, late night TELEVISION became loaded with commercials from Offer-In-Compromise" Pros" appealing distressed taxpayers the chance to" pay cents on the buck to the Internal Revenue Service". These" pros" would certainly fill up out the OIC documents as well as send it to the IRS, sometimes ignoring whether a customer fulfilled the standards for being accepted or otherwise. In any case, the" pros" obtained their cash ... even if the client never had much of an opportunity of being accepted. Not only did this method create a massive variety of individuals getting ripped-off, it may have created a decrease in the variety of Offers-in-Compromise that are in fact being accepted by the IRS. On November 1, 2003, the IRS started charging a$ 150 handling fee for many Offer-In-Compromise proposals. Likewise, in February of 2004, they formally released" a consumer sharp advising taxpayers to beware of marketers 'insurance claims that tax obligation debts can be cleared up for' pennies on the dollar' with the Offer in Compromise Program." It appears that "pointless" propositions- and also lots of grievances by consumers -had been installing ... sufficient to warrant concern by the Internal Revenue Service. The IRS has broken down. Offers-in-Compromise currently only have a 15 % opportunity of success. An offer-in-compromise might still be the right choice for you, or there might be much better alternatives. Do not lose your time , if you remain in difficulty with the IRS or have gotten notices that you owe tax obligations, we can assist. Most likely to www.IRSHelpChicago.com or call our skilled tax specialists at( 312 ) 664-6649 to schedule your cost-free 30-minute appointment. http://www.youtube.com/watch?v=-p11o8KvWPE