In this episode, I discuss offer mills, one of the IRS' dirty dozen tax scams.
Did you know only 33% of all offers-in-compromise are accepted (offers are the IRS' debt settlement programs). Of 53,000 offers made in 2019, only 18,000 were accepted. If you listen to the radio and TV ads you'd think the IRS was settling cases left and right for "pennies on the dollar" Not true.
Offer mills are nothing more than snake oil salesmen who prey on desperate taxpayers. In this episode, I discuss what you should look out when talking with a tax resolution firm. Watch out for the warning signs!
Be wary of promises that seem too good to be true. The IRS is not in the business of settling tax debts, it is in the business of collecting as much as possible from taxpayers. An offer will only be accepted if it is in the IRS' best interest, not yours!
I hope you enjoy this episode and let me know if you have any questions or show ideas.
IRS DIrty Dozen: https://www.irs.gov/newsroom/irs-unveils-dirty-dozen-list-of-tax-scams-for-2020-americans-urged-to-be-vigilant-to-these-threats-during-the-pandemic-and-its-aftermath
IRS Prequalifier Tool: https://irs.treasury.gov/oic_pre_qualifier/
If you or someone you know has a tax problem, call our office at 207-502-7181 or email us at jwade@jdwadelaw.com. We will be glad to help you. Otherwise, please enjoy our content and let us know if there are topics you'd like us to discuss.
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