We Prepare Tax Returns!

We prepare most type of tax returns:

Individual. 

S Corporation.

C Corporation.

Partnership.

Payroll.

Amended.

Gary Bode, CPA is a Master's Degreed, nation wide accountant offering tax and business services. Member of AICPA and NCACPA. Our virtual office provides excellent service to long distance and international clients. Call (910) 399-2705 for a free phone consult.

Client Video Testimonials

Click here to watch some of our clients in their video testimonials!

Client Testimonials

I became totally and permanently disabled after a working for 44 years. I returned to college late in life (while working full-time) to fulfill my dream of becoming an RN and at that time found it necessary to secure student loans. Three years after being declared totally and permanently disabled my student loans were discharged. In January 2013 we received a 1099-C form declaring said student loans that were discharged however that amount could be considered as income for 2012. This was a large amount of money and we live on two pensions and social security income.

I started looking on the internet for information regarding 1099-C and felt that this was something that we could not handle alone. I made phone calls locally to a very reputable tax group in a city near us and they said it would cost $500 for an appointment and that they really prefer to do corporate taxes and they referred me to a local person who had worked for them at one time, we called and explained the situation and an appointment was made and then the comment was made that "I will have to do some research on this" and flags immediately went up and we called back and cancelled that appointment. I had been researching the IRSwebsite and every place else I could think of and I was not comfortable doing our own taxes this year. We called another local tax preparer that we had used in the past and made an appointment, however prior to the appointment, while still seeking information regarding our situation,

I came across a website for Gary l. Bode, MSA, CPA, PC in Wilmington, NC. I called Mr. Bodeand explained our situation and asked if he could help. He spoke very knowledgeably regarding the situation and stated that yes; he felt he could help us. As Mr. Bode was in North Carolina and we were in New York I scanned all of our documents including back-up documents for all of our claims and forwarded all to him. Mr. Bode kept in touch with us via email; we have spoken on the telephone several times and have become very comfortable with his knowledge and professionalism. Also, as I am a true "worrier" I have continued looking into information regarding our tax situation and I came upon another web page for Mr. Bode that included testimonials which spoke of his experience with this type of tax situation as it became prevalent during the recession. This reinforced in our minds that we had made the right decision in hiring this person as our tax preparer.

I share all of this as our taxes are now ready to be filed (we do owe tax for 2012 but not the astronomical figure we thought we were facing), and we are confident that they have been prepared with the utmost care by a gentleman who has an excellent working knowledge of the situation we faced and the tax laws that were applicable to said situation.

 

Bill and Carol

Free Consult

Even though Gary enjoys helping colleagues, we no longer provide free consults to other tax preparers. He's happy to consult on an hourly billing basis if our schedule allows.

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IRS Offer in Compromise CPA discusses reducing back taxes through Form 656 and Form 433a

IRS Offer in Compromise CPA discusses Form 656 to cut back taxes

An IRS Offer in Compromise CPA looks at all the techniques available to solve your back tax problems. (910) 392-2705.

Form 656 CPAs know the IRS Offer in Compromise program is popular again after qualifications relaxed during the Recession. An IRS Offer in Compromise means the IRS accepts less than you what you owe in back taxes as payment in full. The OIC is just one back tax technique. From my experience with providing free consults, many potential clients want to go straight to the OIC. Here’s how an IRS Offer in Compromise approaches a back tax case in general.

How Does an IRS Offer in Compromise CPA approach solving your Back Tax case?

  • I start with listening to your story. Why? It helps the client emotionally and often reveals legitimate factors on which to base a tax strategy. The IRS sometimes takes a person’s circumstances into account like being past 60 years old, folks with medical conditions etc.
  • Most back tax CPAs automatically request more time to work your case. I’ve never had the IRS deny this request.
  • Next I look at the IRS version of your back tax situation. Usually that includes obtaining a Power of Attorney for you and pulling your back tax IRS transcripts.
  • Next I look at the tax returns in question.
    • If you haven’t filed your back tax returns the IRS assumes you owe taxes on your entire income. Any back tax CPA will tell you filing a correct original return always decreases the IRS demand.
    • If you have filed all back tax returns, an Offer in Compromise CPA would first look to see if amending a return would cut your back tax liability.
  • State taxes have to be factored into your back tax situation. I’ve seen folks forget about this crucial step.
  • I look at all available avenues of attack like:
    • Filing or amending your back tax returns.
    • Putting your account into IRS “currently uncollectable” status. This buys time and may allow me to better position you for a future OIC.
    • Form 9465; an IRS Installment Agreement.
    • Offer in Compromise via IRS Form 656 or 656-L.
    • Asking for penalty abatement.
  • If I think an OIC could work, I begin to collect the financial information required from the Client.
    • Typically a relative offers to pay the back taxes as reduced by the OIC.
    • The IRS may accept a payment plan with an accepted Offer in Compromise, so understanding your cash flow is vital.
    • All this culminates in preparing Form 656 or 656-L.

“I see the IRS Offer in Compromise program as one weapon in a back tax arsenal.” 
– Gary Bode, Form 656 CPA and back tax accountant

What’s the IRS basis for accepting an Offer in Compromise?

Components include:

  • “Realizable Value” of your assets the IRS could seize with a levy.
  • Your future net income available to the IRS.
  • An information Form like 433a.
  • Extensive documentation.

Here experience helps, and using a CPA knowledgeable in the IRS Offer in Compromise is prudent. However I’m sure some Folks succeed on their own. Of course, CPAs aim low knowing the IRS will likely counter-offer.

Our free phone consult is a legitimate offer. The CPA license is national, so my virtual office can serve you wherever you live. I try to be helpful. I understand the call is a step in your due diligence with a back tax issue. It also helps establish whether I’m the right IRS Offer in Compromise CPA for you. (910) 399-2705.

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