Question 1

What is an Offer in Compromise?

Accepted Answer

An Offer in Compromise is an IRS program that allows qualifying taxpayers to settle their tax debt for significantly less than the full amount owed. The IRS considers your income, expenses, asset equity, and ability to pay. Not everyone qualifies, but for those who do, the savings can be dramatic. Contact Settled Tax Relief for a free consultation to find out if you qualify.

Question 2

How long does the tax resolution process take?

Accepted Answer

It depends on the complexity of your case. Simple installment agreements or penalty abatement requests can be resolved in weeks. An Offer in Compromise typically takes 6-12 months to process once submitted to the IRS. Once you hire us, we can immediately stop collections and protect your assets while we work toward resolution.

Question 3

Can the IRS garnish my wages or seize my bank account?

Accepted Answer

Yes — the IRS has broad authority to garnish wages, freeze bank accounts, file tax liens, and seize assets. However, these actions can be stopped or reversed with professional representation. Once we establish a resolution plan, the IRS is typically required to halt aggressive collection activity. If you've received a levy or garnishment notice, call us immediately at 405-616-9026.

Question 4

What is the difference between an Enrolled Agent and a CPA?

Accepted Answer

Enrolled Agents are federally licensed by the U.S. Department of the Treasury specifically for tax representation and can represent taxpayers in all 50 states. CPAs are state-licensed accounting professionals whose primary expertise is tax preparation and financial accounting. When dealing with IRS collections, audits, or back taxes, an Enrolled Agent is the specialist you want in your corner.

Question 5

Why should I hire Settled Tax Relief instead of dealing with the IRS myself?

Accepted Answer

The IRS negotiates with tax professionals every day and knows how to use your own words against you. As your licensed Enrolled Agent, Jacob Fullerton handles every IRS communication on your behalf — you never speak with them directly. Most clients find the cost of professional representation is a fraction of what they save on their final settlement.

Question 6

Do I qualify for an Offer in Compromise?

Accepted Answer

Qualification depends on your income, expenses, asset equity, and ability to pay. The IRS uses a specific formula to determine your Reasonable Collection Potential (RCP). If your RCP is less than what you owe, you may qualify. The best way to find out is a free consultation with Jacob Fullerton, EA at Settled Tax Relief.

Question 7

What happens if I ignore IRS notices?

Accepted Answer

Ignoring IRS notices escalates the situation significantly. The IRS will progress from letters to notices of intent to levy, then to actual wage garnishments, bank levies, and tax liens on your property. The longer you wait, the fewer options you have and the more penalties and interest accumulate. If you've received IRS notices, call Settled Tax Relief at 405-616-9026 immediately.

Oklahoma City IRS Tax Resolution & Representation

Professional IRS Representation & Tax Relief Services

Our 5-Step Defensive Tax Resolution Process

Contact Us for a Free Consultation