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TAX RESOLUTION
Beacon Solution, understands the our mission is to empower individuals and businesses with knowledge and resources for effective tax preparation.
We believe in guiding our clients through the complexities of tax decisions to ensure they make informed choices.
A Tax Resolution Relief allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can't pay your full tax liability or doing so creates a financial hardship. We consider your unique set of facts and circumstances:
- Ability to pay
- Income
- Expenses
- Asset equity
When approved for an amount you offer represents the most we can expect to collect within a reasonable period of time. Explore all other payment options before you submit an offer in compromise. The Tax Resolution is not for everyone. Be sure to check the qualifications of any tax professional you hire to help you file an offer.
Who is Eligible
You're eligible to apply for an offer in compromise if you:
- Filed all required tax returns and made all required estimated payments.
- Aren't in an open bankruptcy proceeding.
- Have a valid extension for a current year return (if applying for the current year).
- Are an employer and made tax deposits for the current and past 2 quarters before you apply.
If you apply and are not eligible
If you apply for an Debt Resolution and we can’t process your offer, we'll:
- Return your application and offer application fee.
- Apply any offer payment you included to your balance due.
Select a payment option
Your initial payment varies based on your offer and the payment option you choose:
- Lump sum: Submit an initial payment of 20% of the total offer amount with your application. If we accept your offer, you'll receive written confirmation. You must pay any remaining balance due on the offer in five or fewer payments.
- Periodic payment: Submit your initial payment with your application. Continue to pay the remaining balance in monthly installments while the IRS considers your offer. If IRS accepts your offer, continue to pay monthly until it is paid in full.