Frequently Asked Questions

Q: What is Tax Relief and Tax Resolution? What do they mean?

A: Are you in debt with the IRS or the State? We offer many services that provide tax relief and tax resolution. One of the most popular relief services is called an Offer in Compromise, also known as an OIC. An OIC is a settlement that allows a taxpayer to settle for less than the full amount owed to the government. We also provide tax relief by having your penalties and associated interest removed through a Penalty Abatement. Not only do we have experienced tax professionals on staff that can have your bank or wage levy released, we also have an IRS experienced CPA that will prepare your personal and business tax returns.

Q: So what is an Offer in Compromise (OIC)?

A: An Offer in Compromise is an agreement between you, the taxpayer, and the IRS. This agreement settles the full tax liability for a lesser amount; how much you owe has little to do with the settlement. Our Tax Professional performs complex negotiations for your successful outcome. It takes approximately 6 months to complete an OIC, but Elite Tax Relief will complete a detailed financial analysis during our FREE consultation to see if an OIC is the best possible route in solving your financial problems.

Q: Why would the IRS or State settle for so much less than what is owed?

A: The IRS has been authorized by Congress to help the taxpayers settle liabilities in order to work for a fresh start. The same Offer in Compromise program promotes voluntary compliance with future payments and filing requirements.  There are three available plans the Offer in Compromise have that you can qualify for:

  • Doubt as to Liability When you are not clear if you actually owe the money.
  • Doubt as to Collectability – This is based upon your assets and income. If you can’t afford to pay the IRS the full amount you owe in a reasonable period of time.
  • Effective Tax Administration – This when the IRS allows you to pay less if you can show that it would be unfair to require you to pay the entire amount, even though you could afford to do so. For example, this offer will apply if you are retired and can only afford to pay the IRS if you sell your home.

Q: Why hire a Tax Attorney or a tax resolution company?

A: Taxpayers may always represent themselves before the IRS to resolve taxes and IRS problems, but this is often times frustrating, time-consuming, and intimidating. Our tax resolution firm specializes in this field of IRS negotiating. While no tax resolution company  can guarantee any specific outcome, our team has been extremely successful in getting the results we discuss during our FREE Consultation.

Q: Haven’t filled out tax returns in years? It’s not too late to reach a settlement!

A: Filing your return is the first step in the settlement process. Taxpayers must be in compliance in order to negotiate with the IRS, but after your returns are processed, Elite Tax Relief will evaluate all of the possible solutions for your particular case so you can make a fresh start!

Q: Talking to the IRS:

A: In most cases, when you hire Elite Tax Relief, we will file our Power of Attorney, and our Tax Professionals will handle all correspondence within the different divisions in the IRS. This includes agents, officers, and auditors.

Have our tax experts solve your tax problems so you can get back to concentrating on the important things: your job, business and family! Call 479-242-7499 or 855-4-IRS-DEBT for a FREE consultation.