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Sheppard Law Offices, Co.
Call Toll-Free
1 (877) 505-9455
Columbus Office (Main)
450 Alkyre Run Drive, Suite 330
Westerville, OH 43082-6911
Telephone (614) 523-3106
Fax (614) 523-3108
Newark Office
North Third Tower, Suite 304
51 North Third Street
Newark, OH 43055
Telephone (740) 345-7138 |
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For many people, especially self-employed
individuals, taxes fall to the bottom of the list of
creditors to pay. Typically, and for good reason, priority
is given to the payment of mortgages, rent, food, medicine
and other necessities of life. Often times, it can be tough
to save enough money from your income every month to pay
personal and/or business taxes. At Sheppard Law Offices, we
are the tax professionals who when it comes to tax
negotiations with the IRS.
For these individuals, there may be relief through an
Offer in Compromise.
An Offer in Compromise (OIC) is an agreement between
the taxpayer and the government that settles a tax liability
for payment of less than the full amount owed. The IRS will
generally accept an Offer in Compromise when it is
likely that the tax can be collected in full and the amount
offered, reasonably reflects collection potential. An “OIC”
is a legitimate alternative to declaring a case currently
not collectible or to an installment agreement. The goal is
to achieve collection of what is potentially collectible at
the earliest possible time and at the least cost to the
government. The success of the Offer in Compromise
program will be assured ONLY if the taxpayer
makes an adequate compromise proposal that is consistent
with their ability to pay and the Internal Revenue Service
makes prompt and reasonable decisions. Taxpayers are
expected to provide reasonable documentation to verify their
ability to pay. The ultimate goal is a compromise which is
in the best interest of both the taxpayer and the Internal
Revenue Service. Acceptance of an adequate offer will also
result in creating for the taxpayer an expectation of, and a
fresh start toward, compliance with all future filings and
payment requirements.
In other words, an Offer in Compromise, or “OIC”, is
a Federal IRS tax relief program designed to allow certain
individuals and businesses who qualify, to settle their tax
liabilities.
Should you qualify, Tax Attorney Ken Sheppard can file your
Offer in Compromise and begin negotiations to reduce
your total tax debt to an amount that you can afford. We
understand the U.S. Tax Code, and we know how to utilize the
formulas when calculating your settlement so that they
appear attractive to the IRS. Call us to find out how we can
use our tax negotiation skills and knowledge to assist you
in resolving your tax dilemmas for the least amount
possible.
Many businesses, including law firms, repeatedly proclaim
that they can help individuals and businesses “Save Pennies
on the Dollar’ through the acceptance of an Offer in
Compromise. We do not make such a claim. Here’s our
approach:
At Sheppard Law Offices, we take a realistic approach in
helping you resolve your federal tax problems with the IRS.
This realistic approach involves a careful and in-depth
evaluation of your current financial condition. The
acceptance of an offer in compromise is based upon your
ability to pay, not the amount of the tax debt, including
the tax liability, penalties, and interest. Therefore, Tax
Attorney Kenneth Sheppard focuses on preparing your “OIC”
with a comprehensive analysis of your current financial
status.
What Makes Our Tax Law Firm Unique?
One of the qualifications that individuals and business
owners must meet in order to have an Offer in Compromise
accepted by the IRS is that all required tax returns
(including all prior years’ returns) must be filed with the
IRS. You do not have to make any payment on those filed tax
returns; you are just required to file them.
At Sheppard Law Offices, we offer a unique legal, tax, and
accounting service not found in law firms across the United
States. In most law firms, tax attorneys “refer out” your
tax returns to be prepared, or, in the alternative, they
work with your accountant or C.P.A. in the preparation of
your tax returns. This is not the case at our law firm.
Tax Attorney Kenneth Sheppard, Jr. works alongside with his
father, Kenneth Sheppard, Sr., in the preparation of
business and individual tax returns. This means that if you
have tax returns that need to be prepared, we will prepare
them in-house. Then, we can immediately assist you with
resolving your tax problem with the IRS. In other words,
Sheppard Law Offices is your "One-Stop-Shop" to resolve
all of your
tax issues.
There are three (3) ways in which an "OIC" may be accepted
by the IRS.
1. First, you may challenge the IRS by stating that you
doubt the liability being imposed against you.
2. Second, and most commonly used, is that there is doubt
that the IRS would be able to collect the tax liability from
you.
3. Finally, an Offer in Compromise may be accepted,
if it is in the best interests of “effective tax
administration”. Thus, a tax liability, including penalties
and interest, can be settled with the IRS, even if you are
considered to be “collectible” by IRS standards. If you can
show that you possess “special circumstances”, then you will
be successful in having your Offer in Compromise
accepted. Common examples of “special circumstances”
include:
a. The taxpayer has assets sufficient to satisfy the tax
liability, but has a dependant with a serious long-term
illness, which prevents them from paying the full amount
due, and meeting basic living expenses.
b. The taxpayer is retired, and the only income he or she
has, is from a pension and an IRA. Use of the pension or the
IRA to satisfy the tax liability will leave him without
adequate means to provide for his or her basic living
expenses.
c. The taxpayer is disabled and lives on a fixed income.
Full payment would not allow the taxpayer to meet basic
living expenses.
If you believe that you may have a “special circumstance”,
then Tax Attorney Ken Sheppard can help you file for
acceptance of an Offer in Compromise under the
“effective tax administration” option.
In the event you have been unsuccessful in having your
“OIC” accepted in the past, we strongly suggest that you
should consider identifying your special circumstance(s) in
the request for an appeal of your Offer in Compromise.
You will need to provide adequate documentation to support
these special circumstances.
OFFER IN
COMPROMISE SETTLEMENT
Contact
Tax Lawyer Kenneth L. Sheppard, Jr.,
for a free one-half (1/2) hour initial consultation in
person or by phone. We help people nationwide solve their
federal tax problems.
CALL
1-877-505-9455
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