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FLNovice · Mar 22, 2007, 06:15 PM

How does it work a company says they can reduce your IRS debt to pennies on the dollar. What connection do they have with the IRS that they can cut a deal when they won't even give the average taxpayer the time of day. What % does the law firm keep for their fee?

excon · Mar 22, 2007, 06:23 PM

Hello FL:

I don't know. Call 'em up and ask. I'm sure it's not a secret. I can tell you this, though; they don't have any connections with the government. They don't do anything that you couldn't do yourself.

I don't know what you mean by the time of day. Do you have a debt with the IRS? Have you called them on the telephone? Have you told them that you want to settle your debt?? You did, and they won't give you the time of day?? They don't want your money??

Dude, you're fibbing.

excon

Fr_Chuck · Mar 22, 2007, 07:09 PM

Many that I have seen have ex IRS attorneys that work for them.

There are actually many programs that allow for tax write offs, but normally you have to owe 10,000 or more in back taxes to even qualify.
** I found out when my wife and I marreid, she had some tax issues from a business she closed.

But this is basically nothing that a attorney could not do, if they knew the tax code, but the tax code is so complex, almost no normal attorney or person knows them.

So bascicly instead of knowing they will be tied up in hearings and motions and courts for years, they settle.

But it is basically people using their own red tape against them

RichardBondMan · Mar 22, 2007, 07:28 PM

Be really careful of companies, even CPA's or even attorney's who CALL YOU and offer to try to reduce your tax liability to "pennies on the dollar" - it's a very difficult thing to accomplish even with their help, rare the IRS does this, very, very rare ! You might end up paying a very high fee then to be told "well, we tried". If you really want to pursue this with the IRS, then YOU make the call to a legit CPA or tax attorney and YOU get their opinion. Do not fall for companies, ads on TV, or other that CALL YOU - you make the call not them but to a qualified trained professional that has not called you. See if you can get a straight answer/ opinion. That's my two cents.