Tuesday April 29, 2014
Cable tv and talk radio are chock a block full of ads claiming miracle tax solutions. Tax hucksters claim that Client X owed six figures to the IRS but we got them a settlement for oh say $4,295. Is this possible?
This article explains the Offer in Compromise procedure. As the author states, the ads make it sound very discretionary but that is not the case, there is a strict formula. And no surprise, most clients do not qualify for vastly reduced OICs.
There are two things I don't understand.
1. How does a Taxpayer Solution Firm stay in business if it promises such outlandish settlements but most clients probably just end up with a pay out schedule?
2. If your client only has $500 a month in disposable income, how do you, the CCPA, get paid?
Professor Elam 
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