Video instructions and help with filling out and completing Can Form 944 Pr Toll

Instructions and Help about Can Form 944 Pr Toll

Eris you'll find it but then and you differentiate yourself from from that that whole group of people who do those types of settlements because you go deeper than just this step layer one well we have more to answer to in a sense we're CPA I'm a CPA and counts we're licensed by the state so we're not interested in losing oh is it because it takes so much to get it just not hanging out what they say hey iris work or I do tax work right you do a County morgue this is certified public accountant is a licensed person who works for a Republican is designed to give opinions on companies as well as handle tax returns and so on so our our ability goes a lot deeper then kind of like a surgeon and a nurse maybe or a surgeon and a health practitioner the depth of our knowledge goes far deeper than a regular routine tax preparer right attach something through you guys yeah well it's gonna be more effective we don't promise results you know we don't promise that their case will get resolved good examples you know I I did a golf pro that old $35,000 when we settle this case for 1,000 that was just a little while ago yeah it's thirty five thousand now one mm-hmm okay that's pretty good settlement but then again I had a elderly lady who owned ninety thousand and the best I was able to get was 49 well you'd say it you know looking at that you should got around for three well it doesn't work that way there's so much that enters into it and most of the pivots off of what is your financial status of your financial status is good well the IRS doesn't want to give you a break say somebody owed you money and let's say hey I'm dead broke don't have a job and I'm moving to Texas and I owe you ten grand but I'll give you one right now alright call it even right well you're making an executive decision right well I may not ever see this guy again maybe I should take the one and be thankful I got it or maybe I'll pursuing for the other ten I'm not saying which one you'll do but I'm pointing out to you that this is pretty much what the offering compromise settlements are with IRS but there are other ones do you know first thing the IRS wants is you to pay it sure if you can't pay well then what do you got well you've got the installment arrangement well one time can you bacon coming okay 60 months baby or the statute of limitations which is ten years can you pay it out over that period time maybe not and if you can't well then it's called a partial stall arrangement whereby you'll still make payments and but at the end of ten years the statute runs out and the IRS doesn't collect from you anymore because there's a statute of limitations on collections then you have the penalty abatement which is getting today be fairly hopeless but I've resolved some cases well with in fact I just did one today was a fellow fourteen thousand we said you settled for about eleven and that was because it was a three thousand dollar penalty abatement okay it's not all the is better than no loaf at all you know what's the other things bankruptcy many people don't know you can bankrupt yourself out of income taxes assuming me to do on a forty day rule to you the three-year-old so I don't do packed up seas however I know about them and if it's best for a client to come back well see as well as limiting older civil debt why not hardship uncollectible okay I arrest save the money but now I'm barely making enough to eat beans around my pool you know those crackers or something you know that's all I've got to eat if that's the case I don't know then the IRS gives kind of a hiatus for a couple of years until you get back on your feet that's what hardship uncollectible or currently not collectible and no it's a proper financial statements you can get one of those so it doesn't illuminate the problem loans it and it's you still bear chicken two years well maybe then you do it again for another two years the end results if you do it or not the statute runs out you go look currently not collectible the statute does not call tolling tol ing it doesn't talk it doesn't add up to ten years but an offer and compromise does which just sounds a lot like a hardship on collectible but it's not offer and compromise is IRS I owe you the money and will you take less and here's how much I'm offering and if your financial statements point to that and the IRS feels that that's all they're gonna get out of the deal and get you back into the system you know keep you current those are stick your 5-year compliance issues someone with offers if that's the case well then the IRS is that's more incentive to accept your offer and of course the third thing is if you took the IRS for ten years they've got to pay him anything that is a long time to hold your breath most people don't want to do that because doing that period of time you want to marry right get a home on radar so so eventually they need to serve sky like whales they can stay pretty low for a long time basically do have to come on you know where that Japanese Whaler you know so it could be it could be a little bit risky so those have usually the ways that.