Steve
Bradenton,#2Consumer Suggestion
Thu, October 26, 2006
Greg, that was good information. Of that percentage of people approved for the OIC program, it is actually less than 1% that get settled for "pennies on the dollar" as these firms advertise so fraudulently. Most OIC plans that are accepted are at least half of the total tax debt, and usually involves a very long payment plan. Most of what this OIC plan does is eliminate penalties and interest. That is usually all. I had a freind who worked for many years in the Las Vegas IRS office and worked these plans every day. Also, I entered into one of these plans after a well known tax preparer made major errors on my return 3 years in a row, and 8 years later I am audited. I was in the military on active duty and that is the main reason they accepted me into the plan. I ended up paying about 70% of the tax debt with no penalties or interest over a 5 year payment plan. My advice to anyone considering one of these companies is to run real fast and don't look back! However, if you are really suicidal and decide to go for it, get everything in writing from them BEFORE you give them any money. If they cannot/will not put exactly what they can accomplish for you in writing, they are running a scam. OR, agree to pay their fee ONLY after success. I bet they turn down this request. Run fast from any representative of JK Harris and/or Ronnie Lynn Deutsch.
Greg
Omaha,#3Consumer Comment
Thu, October 26, 2006
This is the IRS warning regarding promoters of settling tax debts for "pennies on the dollar". The Roni Lynn Deutch advertisements do and/or did in the past make the claim that they can help you settle for "pennies on the dollar", so, per the IRS alert, the firm mislead clients http://www.irs.gov/ businesses/small/article/0,,id=108356,00.html ___________________ Can taxes be settled by offering pennies on the dollar? OICs must include an amount equal to or greater than the total value of all assets, plus future income. That total is generally the reasonable collection potential amount, and not simply an offer of ten cents on the dollar, or a percentage of the debt. A consumer alert has been issued advising taxpayers to beware of promoters' claims that tax debts can be settled for "pennies on the dollar." The IRS cautions that the OIC program is not designated to be a program for everyone with financial problems, and it should not be viewed as an invitation to avoid paying taxes. Can I file an offer in compromise to delay collection action? Once it is determined an OIC was filed solely to hinder and/or delay collection actions, the IRS will return the OIC without any further consideration. Taxpayers will not be afforded the right to appeal this decision. ________________________ A few other things OIC promoters do not disclose: The IRS only approves 10-16% of offers submitted. On average, it takes 380 days for the IRS to process an application for an offer.
Priscilla
Merrimack,#4Consumer Comment
Wed, October 25, 2006
ANOTHER BUSINESS that "claims" they can help us!! FALSE ADVERTISING!!! JUST like JK HARRIS!!! HEY... anyone one want to buy a waterfront property in arizona????