Information About Your IRS Offer in Compromise

M&M Financial provides free tax guides on its website. Here is the information contained in the IRS Offer in Compromise guide. Click here to request the following free tax guides.

• IRS Tax Liens
• Penalty Abatement
• Offer in Compromise
• IRS Levy and Garnishment
• IRS Installment Agreement

Offer in Compromise (OIC)

The Offer in Compromise is a government tax debt resolution program that allows a delinquent taxpayer to settle a tax liability for less than the full amount owed. If you don’t have the ability to pay your total tax debt through monthly payments, if paying the tax debt will cause you to suffer a financial hardship, or if you don’t believe you owe the tax debt, you may qualify for the OIC.

If you do not have equity in assets and do not show the ability to make monthly payments (considering the IRS Collection Financial Standards), you may be a good candidate for the OIC. Continue reading

Why Choose M&M? Flat Fee Tax Debt Resolution.

M&M Financial provides tax debt relief to struggling taxpayers across the country. Call (866) 487-5624 for assistance.

For taxpayers drowning in IRS back tax debt, the “pennies on the dollar” Offer in Compromise (OIC) settlement program sounds almost too good to be true. It often is. But to hear many of M&M’s unscrupulous competitors in the tax resolution industry tell it, the IRS green lights just about every struggling taxpayer’s OIC request, regardless of how much money the IRS stands to lose. Now don’t get me wrong. Some taxpayers are good candidates for the OIC, but most are not. And if someone representing you submits a botched OIC request to the IRS which likely never had a chance at being approved anyway, you could end up with an even larger back tax liability than you started with.

The kicker is that many of the crooked tax resolution companies that dot the landscape know from the day one that most OIC requests will be denied. So why would they go through the hassle of submitting all of that complicated, time-consuming OIC paperwork to the IRS as a rouse? Because the OIC, was just the set up. Now that the taxpayer is in the door, and his or her initial fee to the company has been spent chasing unicorns, the company is in a prime position to charge that taxpayer more money to pursue an IRS Installment Agreement, which they probably should have done in the first place. So why would a company engage in such dirty tricks? Because they work.

Another common trick in the tax resolution that is popular is the verbal promise of a Flat Fee, with a Client Contract that states hourly rates in the fine print. Before you sign anything, read carefully. And remember, it can be really difficult to know who to trust unless you do your homework.

At M&M we make it easy for you. We’ll direct you to our Chicago Better Business Bureau page, so you can see our A+ BBB rating and history for yourself. We give you a long list of Client References to call. We’ll let you talk to an M&M Licensed Tax Relief Expert that will be listed on your Power of Attorney to represent you, before you hire us. And every client is quoted an up-front Flat Fee for tax relief services.

Using feedback from our clients, we’ve eliminated the fear of a lump sum, one-time payment for our services. Our Flat Fee may be paid in installments to M&M allowing our clients to see us work as we guide them through the resolution process.

Unlike many of M&M’s competitors, we do not start a new client relationship with a plan to charge additional fees. We quote a flat fee to each prospective client, and our clients determine the rest. That’s right. Our clients determine whether or not they pay any additional fees to M&M. All of this is outlined verbally prior to M&M’s engagement, and in our Agreement for Professional Services.

We allow our clients to take control of their tax debt problems and their M&M Service Fee. Let us help you get rid of your IRS and State tax debt for good. Contact M&M today.

Tel: (866) 487-5624

“Oh, I See!” The Truth About The Offer In Compromise

Many prospective clients ask us if the IRS is willing to “settle” their tax debt, “Price Is Right”-style. (Probably not, Bob.) Without a doubt they’ve seen and heard ads from predatory tax resolution companies, offering a “Pennies on the Dollar” or an “80% Reduction” tax settlement. This blatant bait and switch is a reference to the IRS’ Offer in

Compromise (OIC) program. What these shady salespeople fail to articulate is that most delinquent taxpayers are more likely to be struck by lightning on the back nine at Bushwood Country Club, than to have the IRS accept their OIC request. (An OIC, by the way, is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed. Offers are usually not accepted if the IRS believes the liability can be paid in full as a lump sum, or a through an Installment Agreement.)

I imagine the Offer Mill salesman telling the potential client that his company has the inside track with the Service and has had hundreds of OICs accepted for “people just like you,” ending with “We’ll make them an offer they can’t refuse,” Godfather style. No mention of equity in assets, ability to pay monthly, IRS Collection Standards, compliance, IRS Collection Statutes… all of the bits and pieces that play key roles in the IRS’ decision to “settle.” It is almost impossible for anyone you speak with regarding your tax debt to know whether or not you qualify for an OIC without reviewing your whole financial picture beforehand.  Listening to these ads and talking to representatives from these “Offer Mill” tax resolution companies can be confusing for people in crisis mode searching for tax relief. “Offer Mill” is a term used to describe companies in our industry that sell the OIC to all of their clients, whether they qualify for it or not. The “80% Reduction” advertisement is a tool to get delinquent taxpayers to call for more information regarding the services these companies offer. This is no crime. The crime occurs, however, when the Offer Mill takes money from a taxpayer in trade for a service that is obviously not going to work, making a bad situation worse.

A few large tax resolution companies, JK Harris, Roni Deutsch, and Tax Masters, have been in the news in recent years for the atrocious, often criminal treatment of their clients. They ripped off the very people they claimed to help, citizens willing to give their last nickel for the “Pennies on the Dollar” IRS miracle cure. Unfortunately, this type of behavior has had a negative impact on the tax resolution industry as a whole, creating a bit of a bad reputation for all of us. This is something M&M Financial strives to overcome daily.

Despite Offer Mills’ attempt to derail the OIC and the tax resolution industry simultaneously, statistics show that 2012 is off to a great start for IRS Offer candidates. As of March 2012, the Offer acceptance rate of 38 percent is the highest we have seen in many years (Source: National Taxpayer Advocate, Fiscal Year 2013 Objectives Report to Congress.) The IRS’ Fresh Start Initiative is providing more flexible OIC terms, including changes to the reasonable collection potential calculation, a major component of the IRS’ Offer computation. The Service will now look at only one year of future income for offers paid in five or fewer months, down from four years, and two years of future income for offers paid in six to 24 months, down from five years. And, all offers must be fully paid within 24 months of the date the offer is accepted.

It’s important to determine whether or not you qualify for the OIC before you head down that path with the IRS. If your Offer is denied, it’s likely you’ll find yourself further behind than when you started the process, which can take up to two years. At M&M Financial, we prepare and submit OICs for our clients that qualify for the IRS program. However, we rarely begin a client relationship recommending the Offer in Compromise as the solution. That is a discussion we have with our clients after we’ve had a chance to review their financial information and we can intelligently point out the good and bad of the Offer program.

Overall, the OIC is a great way to resolve your tax liabilities, if you qualify. M&M can help you lower the risk involved in negotiating with the IRS. We specialize in resolving business and personal tax liabilities nationwide. We have perfected a unique tax resolution system that allows us to work within the strict guidelines set by the IRS and State taxing authorities, ensuring the best possible results for our clients. You’ll find a list of our services, including the Offer in Compromise, here.  Complete our contact form at, or call us at 866-487-5624 to find out how M&M’s Tax Resolution System can help you.

Be Like David and Improve Your Business

There’s an android named David in Ridley Scott’s visionary sci-fi epic “Prometheus.” Because David is a robot programmed to serve the needs of his human counterparts, it is easy to admire his fascination with and blind adherence to maintaining the order of things. He simply follows rules that work, and changes those that don’t. His only mission is to ensure the health and sustainability of his employer, following the systems programmed into his central processing unit. Never mind that David’s boss breeds alien creatures with acid for blood. That’s beside the point. What’s right on target, however, is that systems are an important part of providing a consistent service and product. It helps to have a system in place for just about every process in your business to ensure smooth operations and client/customer satisfaction.

Without systems, each of your employees will perform the same task differently, producing a different outcome each time. This can be disastrous for a business, as companies that don’t provide consistently good products don’t last. At M&M, we realized the need for consistency from day one, and began incorporating systems from the start. All of our systems are integral to our success. Many of our systems will never change, while others are “living” systems that constantly change and improve. That may sound very David-like, but that mindset has proven to be remarkably successful in our case.

There are times as a business owner when it’s beneficial to take a look at your business in a dispassionate way, analyzing in a very honest way what you’re doing right and what you’re doing wrong. Like an android would. Do this often and your business will improve.

At M&M, we’re constantly searching for ways to innovate and improve our living systems. Innovation is one of the keys to our success, which also translates to happy clients and happy employees, and more success. Stop the innovation and you’ll be left behind in the business world.

One of our living systems, that we continue to cultivate and innovate each day, is M&M’s Tax Resolution System. This allows us to work within the strict guidelines set by the IRS and State taxing authorities, ensuring the best possible results for our clients.

Step 1 –First, we’ll gather the necessary information from you to get an accurate picture of your situation. As you feed us the necessary documents, we take it from there by completing the necessary paperwork for you.

Step 2 – Next, we collect vital information from the IRS and/or State to determine the severity of your collection case, including your total balance, the total penalties you might expect to be removed, and possible resolutions that fit within your monthly budget.

Step 3 – Using the knowledge we’ve gained, we’ll implement a strategy specific to your needs.

M&M’s Tax Resolution System eliminates the fear and guesswork associated with confronting your growing tax liability, while saving you time and money in the process.
M&M’s Tax Resolution System is designed to accomplish three important tasks:

A Permanent Solution – We’ll guide you toward the resolution of your back taxes today and help you avoid the same costly troubles tomorrow. With our guidance you’ll be armed with the knowledge to maintain a permanent solution to your tax problems.

Protection Now – A formal resolution with the IRS and/or State can shield you from levies, garnishments and seizures. But you need protection now. With your participation, M&M’s Tax Resolution System will help you protect your assets throughout the negotiation process.

Time and Money – M&M’s System is designed to save you money by removing and reducing penalties. We’ll help you prepare your Penalty Abatement for review by the IRS and/or State, maximizing your likelihood of success. We also eliminate the stress and frustration of dealing directly with the IRS and State by shouldering the contact and communication burden for you.

As a group, M&M’s management and employees innovate and maintain our systems together. We believe that it is important to include input from all of our employees when discussing our systems. After all, we all use the same systems every day. To ignore an idea from the front lines would be a disservice to our clients and employees. We hold regular, Monday meetings with all employees to discuss all sorts of topics for the coming week, including M&M’s systems and how we can improve them.

We feel that the information in this blog itself is enough reason for you to contact us if you have an IRS or State tax debt that needs to be resolved. M&M provides stellar tax resolution service nationwide. Our services include IRS and State Installment Agreement negotiations, levy and garnishment negotiations, Offer in Compromise, payroll tax debt negotiations and more.  Complete our contact form at, or call us at 866-487-5624 to find out how M&M’s Tax Resolution System can help you.

10 Reasons To Hire M&M Financial For Your Back Tax Resolution

1. Reputation – M&M is accredited by the Chicago Better Business Bureau, and proudly boasts an A+ rating.

2. Clear-Cut Fees – M&M charges a start-to-finish fee, with no hidden costs or hourly rates. We’ll base your fee on the details of your specific case, and tell you your complete cost up-front.

3. Payment Options – If it’s flexibility you need, we’ll allow you to pay our fee in three equal monthly installments. This lets you to see your case progress toward resolution before your fee is paid in full.

4. We Fix Tax Problems – At M&M we specialize exclusively in tax liability resolution. Each of our tax teams is headed by a licensed tax professional trained in M&M’s Tax Resolution System. M&M’s tax teams are in-house, assuring accountability. This work is all we do, and we do it well.

5. Experience – M&M began helping taxpayers in 2005. We have more than 30 years of combined tax resolution experience. Put our knowledge and skill to work for you.

6. Superior Skill – As members of various accredited tax organizations nationwide, you can be certain that your M&M Tax Team is held to a high standard of ethics, knowledge and professionalism. All of our tax professionals are trained in M&M’s Tax Resolution System, and are required to complete continuing professional education that meets or exceeds regulatory standards.

7. Honest Advice – We realize you’ve been flooded by numerous tax firms promising the world. But now is not the time to be sold empty promises. M&M will advise you of your options to resolve your tax liabilities for good, shedding light on both the positive and negative elements of your case. Next, we’ll outline a strategy specific to your circumstances and implement the plan step by step.

8. Owner-Operated – Both Mark Mitchell and Mason Bowman take active rolls in the day-to-day operations of M&M, including client representation. We offer superior service that ensures commitment and results.

9. No Risk – Cancel your M&M agreement within two days of engaging us, and you will receive a full refund.

10. The Perfect Size Matters – M&M is a boutique firm, specializing in the niche area of tax resolution. Our manageable size ensures that our clients will always command our full attention. You won’t become a number at M&M.