You wouldn't want to get in an argument with our lawyers. They're tenacious and they don't back down from anybody - especially the IRS. When the government tries to take your money... our lawyers take it personally.
As a focused tax controversy advocate firm that strives to protect you. Every tax controversy is unique; almost all are urgent and inconvenient. Precisely for this reason is why our team offers a tailored solution specifically to your needs.
The IRS has broad statutory authority to examine taxpayers and make tax assessments, levy or lien assets, and assess penalties. If you're facing an IRS examination or need representation, leverage our firm's technical expertise to help you better understand potential issues. We can provide guidance and representation that protects your interests at every step of the process.
Appeals. Tax, penalty, and interest assessments are becoming much harder to resolve administratively. We can provide representation to expedite resolution and help reduce your tax exposure.
Collection matters. The IRS is increasingly employing its enforcement tools to collect unpaid tax and penalties. We can help determine if the underlying liability is valid, explore administrative remedies, and help remove liens and prevent levies.
Private-letter rulings. You can use a OTL to obtain an administrative ruling on a particular tax position. They’re also useful for obtaining late election relief. We can draft the OTL and guide it through the submission process.
Taxpayer Advocate requests. We can engage the Taxpayer Advocate Service on your behalf to help resolve procedural issues with the IRS, such as refund delays or denials or correcting erroneous records.
Proactive planning. We can identify and help mitigate issues before they become disputes, including areas specific to pass-through entities, passive activity losses, foreign reporting requirements, and substantiation of high-scrutiny business deductions and accountable plans.
CURRENTLY NOT COLLECTIBLE (“CNC”)
This is a very popular option for those taxpayers who can’t afford monthly payments but may have assets of value that they do not want to sell or have taken from them. If your current monthly income is less than your monthly expenses, this is a good place to start when choosing a resolution path. Use Form 433-F to calculate your monthly income and expenses and show that you have no disposable income at the end of the month.
PARTIAL PAY INSTALLMENT AGREEMENT (“PPIA”)
The PPIA is a bit more complicated to manage from a records perspective, but can save taxpayers a substantial amount on their tax balances. Taxpayers following this plan have to disclose all financial information and documents to the IRS to be accepted. Optimum negotiates a hardship payment based off the taxpayer’s current financial information. This hardship payment is less than the monthly payment needed to satisfy the tax debt in full. The IRS has a 10-Year Statute of Limitations in which they can collect on past due tax debt. The PPIA payment will be made for the duration of that 10-year period, but will not pay the tax balance in full by the time the IRS can no longer collect on the tax debt.
IRS WAGE GARNISHMENT RELEASE
A continuous garnishment on your paycheck that remains in place until your employer receives notice of release. A wage garnishment can only be released by submitting full financial information. Once released, consider entering into an installment agreement to avoid future collections.
IRS BANK LEVY RELEASE
The IRS issues a one-time levy to your bank account and has rights to all of the funds in your accounts, up to the total balance due. A bank levy can only be released within 21 days from the date it was issued. If you have a bank levy please call us immediately due to the strict release deadlines
INNOCENT SPOUSE RELIEF
Many married taxpayers choose to file a joint tax return because of certain benefits this filing status allows. Both taxpayers are jointly and individually responsible for the tax and any interest or penalty due on the joint return even if they later divorce. This is true even if a divorce decree states that a former spouse will be responsible for any amounts due on previously filed joint returns. One spouse may be held responsible for all the tax due even if all the income was earned by the other spouse.
In some cases, a spouse will be relieved of the tax, interest, and penalties on a joint tax return.
OFFER IN COMPROMISE (“OIC”)
The majority of taxpayers seeking assistance with their tax debt want to go down this path. The OIC program is geared towards taxpayers in financial hardship or with certain exceptional circumstances that would create financial hardship if required to pay the past due tax. The process can take on average between 4-8 months, but the result of a fresh start is worth the wait. Over 1000 clients have already saved over $60 million dollars using the tax professionals at Optimum.
PENALTY ABATEMENT (“PA”)
Penalties can quickly turn a tax debt situation from bad to worse. With our penalty abatement assistance, the added penalties to tax obligations may be removed. Remember, a penalty abatement only applies to penalties. The IRS does not currently abate interest. To accomplish a penalty abatement, an individual can submit proof that they missed payments or filing deadlines or other non-compliant behavior for uncontrollable reasons. In addition, they must show that they are working to rectify the problem by filing any missing forms or returns and paying the required balances.