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Offers in Compromise and Installment Agreements

June 8, 2011

An Offer in Compromise is an agreement between the taxpayer and IRS to settle the taxes for amount less than the full liability.  An Offer in Compromise is a complicated process which requires the submission of a Collection Information Statement and the supporting documentation that must be submitted with the Offer.  Patricia Beary has extensive experience with Offers in Compromise and can analyze your financial situation and advise you on whether you quality for an Offer and what the minimum amount of the Offer must be in order for the IRS to consider approving it.

If you do not qualify for an Offer in Compromise,  Attorney Beary will recommend a Request for an Installment Agreement or suggest other alternatives.  The substantiation requirement for an Installment Agreement is similar to an Offer in Compromise.  The major difference is that, with an Installment Agreement, the taxpayer pays off the entire taxbility making installment payments for a certain number of months.  With an Offer in Compromise, payments can also be made in installments or in a lump some.  The total amount to be paid under an Offer, however, is less than the total amount owed.

Ms. Beary has handled successful submissions of Offers in Compromise, as well as negotiated Installments Agreements maximizing the monthly income available to the taxpayer for living expenses.

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Welcome to Beary Law PLC

Welcome to Beary Law PLC where you will find a rare combination of expertise in tax and bankruptcy law as well as substantial litigation experience. The scope of Patricia Beary's experience in federal practice for over 25 years distinguishes her from other attorneys.
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Real Results

Ms. Beary's expertise has led to the removal of liens and levies in the amount of $110,000 and a reduction of the tax liability to zero. In bankruptcy, Ms. Beary successfully represented the debtor/defendant in a suit filed by a subsidiary of Fidelity Financial objecting to discharge of an assessed debt in excess of $600,000. After contentious pre-trial litigation, plaintiff dismissed its complaint against Ms. Beary’s client. Currently, Ms. Beary is negotiating a settlement of a tax liability of approximately $6 million. She has also filed a petition in tax court where the disputed liability is approximately $600,000.
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Firm Profile

With a focus on federal tax issues and taxpayers in bankruptcy, Attorney Beary, a former IRS trial attorney and Assistant United States Trustee, has tried cases in the U.S. Tax Court in Arizona and in the U.S. Bankruptcy Court in the District of Arizona, District of Connecticut, and Central District of California. Her experience includes appeals of federal tax and bankruptcy decisions, as well as resolving tax debt by payment plans and offers in compromise.
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