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Best Offer in Compromise Service in Los Angeles   

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Xero Tax Relief ™

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Learning More About Offer In Compromise

Offer in Compromise helps thousands of taxpayers in Los Angeles who struggle with tax debt every year. It provides an opportunity to negotiate with the IRS and settle outstanding tax debt. You can get the IRS to agree to pay a lower amount than what you owe. While paying a lesser amount than you owe, you will also get the flexibility to make your payments.

Assume you are dealing with a tax debt of $60,000 with the IRS in Los Angeles. This can be challenging because you don’t have a bank balance or assets worth $60,000. This is where you reach out to the IRS and request relief, stating that you are not in a position to make the payments. The IRS will then offer you an opportunity to pay a lower amount in installments. You will be given 3 years to complete the payment. If you find it difficult to make the total payment within that time, you can pursue an Offer in Compromise. You will need to provide proof of your financial situation to demonstrate that you are an eligible candidate for this IRS program.

This is where you will need to contact the IRS and plead the case. For that, you will need to show proof for your income and assets. Moreover, you need to come to convince IRS that making the total amount you owe will lead you to extreme economic hardships. This is where you can negotiate and conclude that you will pay $20,000 to settle the outstanding amount of $60,000. If IRS agrees to it, you will be getting an Offer in Compromise.

Struggling Under Tax Debt? You May Qualify For An Offer In Compromise.

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IRS Offer

Working With The IRS Can Be Tricky

Getting into an agreement with the IRS for an Offer in Compromise Los Angeles can be tricky. That’s mainly because you don’t have any legal obligations to settle the tax debt you owe by making a lesser payment. As per the laws, you are entitled to pay the full amount that you owe in taxes. It is only up to the IRS to decide whether you are given an Offer in Compromise or not.

This is where you need to reach out to the IRS with a killer argument. It all depends on how successful you are with the argument. A professional can assist you with building such a solid argument. You can also get assistance with collecting all the documents that you need to show proof. This will help you to settle for a better agreement, where you will pay less than what you owe. We at XeroTax Strategies can help you with it.
Connect with us and we will help you to approach the IRS with a solid argument. We will increase your chances of getting an Offer in Compromise.

Agreement

What If You Agree To The Notice Of Deficiency?

If you noticed that the IRS is correct, you should not challenge it. All you have to do is complete Form 5564, which is the Notice of Deficiency. Then you can send it to the agency that issued the IRS Notice of Deficiency in Los Angeles. After that, you will receive a bill, which will contain the amount equivalent to your unpaid taxes. On top of that, you will have to pay IRS tax penalties in Los Angeles and IRS late payment penalties in Los Angeles for your late tax payment. You will also receive this bill if you don’t respond to the IRS Notice of Deficiency within 90 days. To ease your situation, you can also explore options for IRS tax relief in Los Angeles.

It is better if you can contact us at XeroTax Strategies after getting your Notice of Deficiency. We will evaluate your situation and provide information on what you should do. Give us a call today.

Deficiency

What Is A Notice Of Deficiency?

The Notice of Deficiency is a legal notice sent by IRS to inform taxpayers about their previous deficient tax payments. It can also inform taxpayers about lack of necessary funds. When the IRS discovers that the tax return of a taxpayer has omitted income information, they send the Notice of Deficiency. It clearly indicates that the tax payment made to the IRS is smaller than what it should be.

How can I possibly get a Notice of Deficiency? For each and every tax document you receive from financial institutions, employers, and lenders, the IRS will have a corresponding record. In other words, the IRS has completed and detailed information about your financials for the year. Once you go ahead and file for taxes, the IRS will cross-check your reporting along with records that they have. This is where they determine whether you have successfully reported all your tax obligations or not. If you fail to report all information, you will end up with getting a Notice of Deficiency.

The Notice of Deficiency can act in the form of a reminder document about forthcoming taxes. The IRS is usually sending this notice before assessing additional tax.

If you get a Notice of Deficiency, you will be confused on what to do next. Feel free to get in touch with us. We will help you to deal with the situation.

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How It Work

How Does A Notice Of Deficiency Work?

The IRS will cross-check your tax filing and determine whether there is a deficiency. If a deficiency is noticed, they will go ahead and issue you with a pre-assessment letter. This pre-assessment letter is also called as the 30-day letter. It would inform a taxpayer like you that there is a deficiency in your filing. You can use it to appeal the assessment. If you decide to go ahead with the appeal, you will need to send it within 30 days of receiving the letter.

But if you don’t respond within 30 days, the IRS will go ahead and issue a Notice of Deficiency. The IRS will clearly outline all important details related to the deficient payment. You can find your unreported payments and all other calculations that determined the deficiency in it.

When you receive a Notice of Deficiency, you will have 90 days from the mailing date to challenge it by taking the case to the US Tax Court. Because of this, the Notice of Deficiency is often called as the 90-day letter. You will need to file a petition at the Tax Court, challenging the notice you received. In case if you have additional information to back up the claim, you will need to send them to the IRS as well. The IRS will not be able to proceed with any action during this 90 day period.

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What People Say

“I cannot express how grateful I am to Mr. Noel and his team for their incredible help with my tax debt. I was drowning in over $180,000.00 of debt and felt completely hopeless. The team at Xerotax was not only professional and knowledgeable but also compassionate and understanding of my situation.
They worked tirelessly to negotiate with the IRS on my behalf, and to my amazement, they were able to settle my entire debt for just $3,800.00 this outcome was beyond my wildest dreams and has given me a fresh start financially.
Thanks to Mr. Noel, I can now focus on rebuilding my life without the constant stress and anxiety of overwhelming debt. I highly recommend their services to anyone facing tax issues. They truly are lifesavers”

 

-F Perez – El Segundo, California

 

“I am incredibly thankful for the help I received from Noel and his outstanding team at Xerotax Strategies. For far too long, I struggled with an IRS debt exceeding $200,000.00, which weighed heavily on my shoulders. I felt overwhelmed and unsure of where to turn, despite consulting multiple professionals who could not find a viable path forward.
When I connected with Noel and his team, everything changed. From the start, they approached my situation with genuine empathy and a clear, actionable plan. Their expertise and understanding of the complexities surrounding my debt were evident. They worked tirelessly on my behalf, providing guidance every step of the way.
Thanks to their dedication and skillful negotiation, I was able to settle my IRS debt for only $15,000.00! This result is nothing short of miraculous and has completely transformed my financial outlook.
I cannot recommend Xerotax Strategies highly enough. Noel and his team truly care about their clients and deliver on their promises. If you’re facing IRS challenges, do yourself a favor and reach out to them—you’ll be glad you did!
Thank you, Noel and the Xerotax team, for your incredible support!”

 

– E. Corpuz – Cerritos California

“I was drowning in debt, owing over $250,000 to the IRS. My health was deteriorating, and my wife had just suffered a stroke. We were overwhelmed and didn’t know where to turn. That’s when we found Noel Anderson and the team at XeroTax Strategies. They were compassionate and understanding of our situation. The team worked tirelessly to negotiate with the IRS on our behalf. In the end, they were able to settle our debt for just $5,000. This incredible outcome lifted a huge burden off our shoulders and gave us a fresh start. We are forever grateful to Noel and his team for their expertise and support during such a difficult time.”

 

– F Lopez – Long Beach, California

“I cannot express enough gratitude for Noel and his exceptional team at Xerotax Strategies. For years, I was burdened by an overwhelming IRS debt of over $200,000.00. I tried working with various lawyers and CPAs, but each time, I felt more frustrated and hopeless as I saw no real solutions to my problem.
Then I met the team at Xerotax Strategies. From my very first interaction, it was clear that they genuinely cared about my situation and were dedicated to finding a resolution. Their expertise, professionalism, and personalized approach made all the difference. They took the time to understand my financial landscape and worked diligently to negotiate a settlement.
With their help, I was able to settle my IRS debt for just $52,000.00! It was a life-changing outcome that seemed impossible before I found Xerotax. I can finally move forward without the constant weight of debt hanging over my head.
Thank you, Noel, and the entire Xerotax team, for your incredible support and dedication. I wholeheartedly recommend Xerotax Strategies to anyone facing similar challenges with the IRS. You will not be disappointed”

 

-A Kelly – Los Angeles, California