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| *Ostroff, Fair and Company>>>United States Taxes |
A law firm advertises that they can reduce your IRS debt to pennies on the dollar? |
an ad on TV. What pull do they have with the IRS to cut a deal when they wont' give the average taxpayer the time of day. How much is the lawyers fee, what %. They have no more "pull" than any competent CPA or tax attorney. (And probably would cost a lot more since they have to cover those advertising costs.) The relief that they are pushing is called an Offer in Compromise. Here's a link to read up on what it's all about and the costs involved: http://www.irs.gov/pub/irs-pdf/f656.pdf... You can google the term on the IRS website for a lot more information. The fee that they charge will be based upon the amount of time involved in preparing the offer and the supporting schedules and documentation. Any fee based upon the amout of any relief is illegal, by the way. The amount of relief you can get and the costs involved will depend upon your individual situation. There's no way to predict what that might be although the link provided will give you some insight into the process. Don't forget that there are 100 pennies in a dollar. If they get approval of an OIC for 95 cents on the dollar, they've delivered on their promise -- and your total out-of-pocket costs have probalby gone UP instead of DOWN. contact the firm and find out; it's easy to reduce IRS debt by putting bogus info on the return, but there's no guarantee you won't get audited; be careful when you do smth like that Uh-huh, I've seen the ads - do they ever say how MANY pennies on the dollar? Could be 100. Offers in Compromise are not that easy to get approved, and the IRS will want to know EVERYTHING about your financial situation, and I mean EVERYTHING. |
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