California taxpayers can settle their unpaid tax debts through Franchise Tax Board (FTB) settlements by paying an amount that is less than their entire debt. The Offer in Compromise (OIC) program exists as a specific mechanism that helps financially struggling taxpayers resolve their debts. Before approving a settlement, the FTB examines income levels together with expenses alongside assets alongside the payment capability of taxpayers.
Exceedingly, few California taxpayers fail to acquire an OIC since the approval protects against wage garnishments, bank levies, and tax liens. Financial documentation must be detailed along with multiple requirements to complete the process. When taxpayers select a CPA or tax attorney to handle their situation their approval prospects improve while state tax compliance remains tight along with their financial burden decreasing dramatically. Contact Leading Tax Group for help in tax matters.
If you are interested in a tax settlement or if you have received a settlement offer from the IRS, now is the time to call Leading Tax Group. Our tax settlement professionals (whom include former IRS tax attorneys) are always ready to work with you and provide you with the information and representation you need.
800-900-4250
Getting accepted into the Franchise Tax Board (FTB) settlements program in California becomes highly challenging because the FTB uses strict requirements while performing rigorous financial examinations. The Offer in Compromise application will be rejected by the FTB when it detects that the taxpayer possesses sufficient assets to make higher payments. Leading Tax Group, an agency of Tax Consultants, Tax Attorneys, Enrolled Agents, and Former IRS Auditors offering help in these matters.
The improper manner of filing documentation will lead to either delayed outcomes or immediate rejection of the application. Any breach of future tax obligations will result in the FTB revoking the settlement with a taxpayer. The absence of professional help during negotiations can produce technical mistakes, delayed processing, and unsatisfactory results. Taxpayers seeking fair and effective approval should work with tax attorneys or CPAs because they enhance the odds of success and achieve fair outcomes.
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Have you thought of getting tax experts who can settle Franchise Tax Board settlements? Leading Tax Group, an agency of Tax Consultants, Tax Attorneys, Enrolled Agents, and Former IRS Auditors, helps you understand tax rules and use the Offer in Compromise method.
We will gather all the important financial information, how to prevent major mistakes and avoid rejection. Without our help, it will be difficult for you to negotiate with the officials and get the verdict in your favor. We will also ensure that you follow all the tax obligations and protect yourself from massive penalties.
Headquartered in Encino, California with multiple local branch offices in your backyard to serve you at your convenience. Leading Tax Group can schedule a face to face consultation to represent your case with the IRS, FTB, EDD, as well as CDTFA Audits.
FTB settlement, popularly known as Offer in Compromise, is a tool that can help taxpayers from California to settle tax debts with a relatively small amount. Both individuals and business enterprises can use this tool.
If you want to become eligible for FTB settlement, you must be going through some real financial hardship, during selling your assets and some other compliance reasoning.
Yes, they have the power to reject your settlement offer. There must be valid reasons behind the rejection. Usually, when they feel that you can pay more but use the settlement in your favor, they will reject your settlement offer. Leading Tax Group, an agency of Tax Consultants, Tax Attorneys, Enrolled Agents, and Former IRS Auditors, will help you out.
To make the FTB settlement process successful, you must gather a few documents. Usually, your income proof, bank statements, and expense documentation are the main items that you must deliver. Apart from them, you will also need to use the Compromise application Form FTB 4950P. Contact Leading Tax Group for help in these matters.
Yes, you should always proceed with professional tax people. Leading Tax Group has been doing this job for years and made a distinct name for itself. Our experts will check your issues, do some research, and then offer the best way possible to handle your FTB settlement.
info@LeadingTaxGroup.com
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800-900-4250