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Non-Rep Financial Review Package


What is the Financial Review Package?


This is a non-representation service where our professionals will obtain all necessary tax account records directly from the IRS (using a non-representation authorization form), review, analyze and prepare the IRS Form 433-F or 433-A on your behalf, provide you with an in depth analysis of your financial situation as it relates to your tax liability, and advise you on the best direction to take based on your specific tax situation.  We will also provide you with a complete, organized, and accurate financial analysis package that can be used for your proposal to the IRS or State and provide you with a one-hour post analysis consultation.

Why would this Financial Review Package be helpful for my tax situation?
When a taxpayer owes taxes to the IRS, they may be required to provide what is known as a Collection Information Statement to the IRS for review.  The New York State Tax Department conforms to this process as well.  The financials are a means for the IRS or State to determine the maximum amount a taxpayer can reasonably afford to pay towards their delinquent tax debt.  The IRS will require you to complete either a Form 433-F, 433-A, or Form 433-B depending on your tax type and circumstances.  These forms are information gathering tools that ask you to provide everything about your finances – all information on your income, expenses, assets, and liabilities.  The IRS also requires supporting documents to verify what you’ve inputted on the form.

The goal of the IRS is to collect the debt in the shortest amount of time.  Therefore, the financial review is crucial in determining how much the taxpayer's monthly obligation should be when paying back their taxes.  There are many rules for establishing payment plans and it is not as easy as calling in and stating a specific amount that you want to pay.  Rather, it becomes a skill of negotiations based on your understanding of the regulations.  With this in mind, we developed this service to help taxpayers get the upper hand when attempting to resolve their tax debts.  When taxpayers are oblivious to the rules of collections, they may acquiesce to the demands of the IRS and many end up struggling to pay the monthly obligations they’ve agreed to make with the IRS or State, when they could have entered into more favorable arrangements.

The Financial Review Package was designed with the idea that taxpayers need guidance and direction before they tackle on the task of discussing their tax debt with the IRS.

The Financial Review Package includes:

  • Complete analysis of financial position to establish best direction for resolution.
  • Tax professional with expert knowledge of collection rules & regulations preparing and communicating with taxpayer during the analysis process.
  • You provide all raw materials and we will decipher, find out if there’s any specific data that’s missing, complete analysis, prepare tax forms, and discuss with you the outcomes and direct you how to proceed.
  • You give us authorization (by signing a Form 8821) to get information from the IRS to verify your tax problem and use such information to analyze your financials in the same fashion that IRS does.
  • Get your financial situation analyzed by a tax professional capable of catching incongruities of your supporting documents, and able to determine the most realistic resolution to your tax problem.
  • We mail back to you an organized, completed package which includes the original documents that you provided to us organized and analyzed, ready to be mailed to the IRS or State.
  • We provide you with thorough advice which is based on a complete review of your financials and tax situation. We provide you direction, instructions, scenarios on how the IRS is going to review your information and how to defend your proposal to them.
  • We provide you with a one-hour post submission consultation for advice on moving your proposal along with the IRS after you’ve submitted the information package to them.  This is a consultation with one of our licensed professionals offering you advice and direction based on the financial package that was prepared.

By letting us work on your financials and analyzing every aspect of your economic situation, you will benefit in many ways.  We will tell you how best to protect yourself, your family, and your assets.  We will explain your rights, and we will give you a thorough analysis on the best direction to take on your case.  Your financial situation will be reviewed by a knowledgeable tax professional who will prepare these documents with your best interest in mind.  You will also be given the answer to the most commonly asked question: Can I settle with the IRS or State with an Offer In Compromise?

The Financial Review Package will help you find out if you qualify for an Offer in Compromise!
One of the most common questions taxpayer’s ask us is whether or not they can get a settlement with the IRS or State?  The answer to that may not always be clear if we speak with you for only 15 minutes. There will be taxpayer that meet some of the criteria for an Offer, but without a full analysis of the situation we cannot give you an accurate answer.  The Financial Review provides a professional and  in depth review of your financial situation.  If you appear to qualify for an Offer, you will receive completed forms and instructions ready to be submitted to the IRS or state.  If we do not believe you qualify, we will not sell you on an unreasonable proposal.  You will also be given the opportunity to obtain our full service representation.  If you elect to hire us for full services, you will receive a credit (in the amount of the purchase price of the Financial Review Package) on the full service quote we provide to you.

Reasons to consider the Financial Review Package:

  • By understanding the rules of collections based on your specific financial information, you can have a level playing field in discussions with IRS and State collection officers.
  • Provide your completed paperwork to the IRS after understanding how they will interpret its contents.
  • IRS Publications and Instructions are cumbersome and time-consuming to research and digest.  Give us all the raw materials we need and we will do the rest.
  • Obtain advice from a tax attorney who performs collection analysis on a day to day basis and will give you thorough advice based on a completed analysis.

Take advantage of our Financial Review Package, you will be glad you did!

$700 for Wage Earners or Self-Employed Individuals

Who does a Financial Review Package Benefit?

  • Taxpayer’s who would like to handle an IRS audit, etc. themselves in an efficient way but simply need a clear picture of their tax position and sound advice on what to expect from the IRS.
  • Taxpayers interested in hiring representation, but want to know if they can try to handle it on their own.
  • Taxpayers interested in hiring representation, but want to know the direction their representative will take on their case.
  • Taxpayers that have already hired representation elsewhere, but are not satisfied with performance or believe they need a second opinion. This is true for taxpayers that are in situations where they do not know or understand how their representative is representing them, or should be representing them.
  • Taxpayer’s that have current payment plans with IRS or State but
    • Are concerned the resolution was unreasonable.  This may a case where taxpayer does not believe they were treated fairly and may have missed opportunities to have negotiated better.
    • Feel they are paying a monthly payment plan that is above what they can really afford currently.  They need to know if there’s another way to approach the IRS.
    • Want to know if an Offer in Compromise is available to them now.

Who is suited to take advantage of non-representation Financial Review Package?

  • If you are NOT disputing the underlying tax owed to the IRS or State.
  • If you do NOT have a dire emergency in collections (not at threat of garnishment or levy actions or you know there is a hold on collections). If you are in collections, and receiving threatening letters, you should consider our Full Services so that we can stop collections and deal with all issues of the IRS.
  • If you are in COMPLIANCE with all tax return filings with the IRS or State. This means that you have filed all your tax returns to the most recent tax year.

Is there someone representing me if I purchase the Financial Review Package?

  • Our professionals do not officially represent you with the IRS or State.  The Financial Review Package is a relative inexpensive method of obtaining professional help without representation.
  • We do ask that you sign a Tax Authorization Form 8821 giving us the authority to request information from the IRS that would allow us to thoroughly analyze your case.  This form does not give us any authority to act on your behalf (only the IRS Form 2848 Power of Attorney has the ability to give us that control).  
  • We perform the financial analysis as we would our full service clients and provide you with complete advice and direction on how to approach your situation with the IRS.  
  • We give you all the information you need to empower you to deal with the IRS with a sense of security and balance.  You can utilize up to one hour of telephone assistance for any additional questions you have.  You can use this time to ask questions on the conversation you had with and IRS official, discuss letters being received by the IRS, or any other related matter. We will provide you with additional advice and review any additional pieces of information you wish us to advise you on.

How long does it take to complete the analysis and provide me with the direction I need to take action?

  • Provided that you send us all necessary supporting documents, we can complete our analysis review within 3 business days or less.  However, some taxpayers may not send us all necessary paperwork and, therefore, we will need to clarify and request the missing data so that our analysis is accurate and complete.  Based on taxpayer’s response time, the entire process can take up to 30 days to complete.  Rest assured that we will work diligently with you to get the required information and keep the financial package as accurate as possible.  The completed package should have the most current financial information that the state or IRS needs to make a decision on your case.

Is there any guarantee that the financial paperwork and the advice you provide is guaranteed to work once I submit things and work it on my own?

  • We are confident that the analysis that is provided to you will point towards a reasonable proposal that has a high probability of acceptance with the IRS, but negotiating with the IRS is not easy, even if you have proper financial tools.  
  • We do not guarantee that a specific outcome is going to be approved to the exact dollar.  However, if you do not receive a reasonable outcome based on the analysis and advice that we have provided to you and, provided that you have utilized the hour post-analysis consultation time, we will treat you fairly and offer you a partial refund based on the specifics of the situation. Our company’s success is based on the satisfactory experience our clients receive from us.

What if I would like to obtain representation for my tax problem after I purchase the Financial Review?

  • There are some circumstances that would be beneficial for you to retain a tax professional to represent you.  We know that many taxpayers simply do not want to speak with the IRS or State agents and we are happy to take on that difficult task for you.  We can quote you our full service representation fee and credit you for the amount that you have already paid from your Financial Review purchase!