Here's Why You Likely WON'T QUALIFY For an Offer in Compromise 😭

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  • Опубликовано: 7 фев 2025

Комментарии • 20

  • @hughwhitledge8032
    @hughwhitledge8032 Год назад +6

    Bravo for pushing back against the companies that say, "Come pay us thousands of dollars to file an OIC you probably won't get."
    Oh, and did we forget to mention that our fee is not refundable should you not be approved.

    • @LoganAllec
      @LoganAllec  Год назад

      Unfortunately, that’s the name of the game of too many of the tax relief chop shops out there! I have, however, anecdotally heard that some are changing their sales practices for the better and actually walking the prospect through a financial analysis before making the sale.

  • @Ayojaz1996
    @Ayojaz1996 2 месяца назад +1

    What happens if you go on fmla after making an installment agreement and can’t afford to make tht full payment

    • @LoganAllec
      @LoganAllec  2 месяца назад +1

      Some thoughts here for you: ruclips.net/video/CY6G4BU2mhM/видео.html

  • @G_Money_
    @G_Money_ Месяц назад

    If my housing and monthly expenses exceed the national irs standards, will the irs force me to sell my home and live in a lower housing so it can meet the national standards ?

    • @LoganAllec
      @LoganAllec  Месяц назад

      In general, no. I answered your question more fully in this video I just recorded: ruclips.net/video/v6EPbZpEBw8/видео.html

  • @sagcap7927
    @sagcap7927 10 дней назад

    Good morning Logan. Have you ever heard of a company called TRA. If so, should I roll with them?

    • @LoganAllec
      @LoganAllec  10 дней назад

      I've definitely heard of them and have my opinions. What did they quote you and what did they say they could do for you?

    • @sagcap7927
      @sagcap7927 10 дней назад

      @ 6,000 to get stated and promised they could get 30,000 of back taxes down to 3,000 or a little more. But I don’t trust all the promises. Me and the wife were quoted a $695 fee to get started and then after when they told us all the good things they can do with us they gave us a quote for $5450 to keep going..

    • @sagcap7927
      @sagcap7927 5 дней назад

      @ they gave me a quote for 6,000 and they made promises to get my back taxes down to 80% less.

    • @LoganAllec
      @LoganAllec  5 дней назад

      @@sagcap7927 Yikes. Did they at least do a very detailed analysis of your financial situation before making those promises?

    • @sagcap7927
      @sagcap7927 4 дня назад

      @ Yeah, after the retainer fee was paid, they did an “ investigation “ and told me everything I know already, for 695.00 dollars lol. 🤦🏾‍♂️ then made the promises. And, for them to get started, they needed another start up fee of 5,405 dollars. That’s when I knew something sounded off to me. Actually, the whole thing seemed off. But I proceeded to give it a try.

  • @QueenQMichele
    @QueenQMichele Год назад +1

    Does the amount you pay on credit card debt (minimums) count as far as monthly expenses?

    • @LoganAllec
      @LoganAllec  Год назад +1

      Not typically, no…the IRS’ position is the at credit card minimum payments are included in the miscellaneous allowance within the national standard: “Taxpayers can use the miscellaneous allowance to pay for expenses that exceed the standards, or for other expenses such as credit card payments, bank fees and charges, reading material and school supplies.”
      Source: www.irs.gov/businesses/small-businesses-self-employed/national-standards-food-clothing-and-other-items

  • @rexodeuce5035
    @rexodeuce5035 5 месяцев назад +1

    Many, many retired people on fixed incomes can't afford the thousands of $$$ for this type of quality service. I don't blame them, they deserve to make money, but cheap help they can afford is really no help at all.

  • @tamekadavis9051
    @tamekadavis9051 Год назад +2

    Good morning

    • @LoganAllec
      @LoganAllec  Год назад

      Good morning! Happy last day of July!!!!

  • @HavingCoffieWithMrSatan
    @HavingCoffieWithMrSatan Год назад +1

    Mr Satan reeeeeeee

    • @LoganAllec
      @LoganAllec  Год назад +1

      good morning sir

    • @HavingCoffieWithMrSatan
      @HavingCoffieWithMrSatan Год назад

      @@LoganAllec good morning it’s a little bit past noon here in Ohio. as Ohio is the home of the political immigrant community.