Offers in Compromise
Established by the Internal Revenue Service, the Offer in Compromise Program is a formal application to the IRS requesting that it accept less than full payment for what you owe in taxes, interest, and penalties.
An offer in compromise may allow you to settle back taxes or IRS liability at a substantial discount on the basis of doubt as to collectability, liability, or effective tax administration. In addition, while your offer is under consideration, the Internal Revenue Service is prohibited from instituting any levies of your assets and wages.
While an offer in compromise can help pay IRS debt for less, most people do not have the necessary skills or knowledge of the IRS collection process to make an offer in compromise that is in their best interest.
Many people fill out the forms incorrectly, overstate their assets and income, and offer too much. Government figures show that 75% of offers are returned at the beginning due to forms being filled out incorrectly, and of the 25% that are processed, approximately 50% are rejected.
Complete the form to the right of this page to set up your FREE, no-obligation consultation today. We can then review your situation, explain your options, and answer your questions about tax debt relief.
As an alternative, with our Tax Advisory Service we can conduct a evaluation of your current tax situation and make some recommendations. If we find an area of concern, you can rest assured that by engaging our services, our office will act as your advocate and seek to resolve your IRS problems.
For prompt evaluation of your case, we encourage you to click here to register for our Tax Advisory Service. You may also contact us using our toll-free number at 866.494.6829
Click here for FAQ's on Offer In Compromise.