Offer in Compromise Scams – Watch Out! They’re Still Out There.
Just because JK Harris and TaxMasters are gone does not mean there are not scammers out there. You would think the tax scammers who know what happened to JK Harris and TaxMaster would be fearful but that is not the case. Even some of the “reputable” tax resolution companies have really exaggerated the possibilities in their marketing.
Remember you’re giving away a lot of information on an Offer application
Remember, when you submit the information with an Offer in Compromise application, you are giving away some extremely sensitive information. Everything a scammer would need to steal your identity and scam you out of money. Spend the time doing a background check on the firm with whom you are considering working.
60% failure rate
Did you know only about 40% of all accepted applications are approved? Scammers know these statistics and will use this as an excuse for why your Offer was not accepted. We have heard of a few taxpayers that decided to contact the IRS themselves to check on the status of the Offer in Compromise, only to find out, one was not submitted. When they questioned the company that submitted the offer, they received nothing but denials.
Why is our success rate with offers in the high 90 percentile?
Since an Offer In Compromise is a very mathematical calculation it is easy to determine if someone qualifies. That is the reason why our Offer success rate is so high. We only take cases we believe will have a higher likelihood of being approved.
If it is so mechanical, why don’t I just do it myself?
I have seen many people try to prepare their own OIC and fail because they do not fully understand the art of dealing with the IRS. Yes, you can submit an Offer in Compromise yourself, but if you are trying to considerably reduce your debt, I recommend you rethink your position.
An “accepted” OIC is not the same as a “successful” OIC.
There is more to it. Sure, the average taxpayer can fill out the forms and after spending hours reading and rereading the instructions provide the substantiation needed for an application to be accepted. How do you measure success? To me, success is measured with an approval on the LOWEST DOLLAR AMOUNT the IRS will accept.
If you feel that you may be in over your head, or just want to get a second opinion, let’s set up a short call. To avoid the back and forth emails and phone tag, I have included a link to my Calendar https://calendly.com/taxman/tax-problem-resolution-initial-consultation. Let’s set up a 30 min. phone conference to get to know each other. The phone number to call is 855-829-5877 and my extension is 203.