Subscribe to our newsletter for monthly tax tips:

Offer In Compromise

Did you know that you may be able to settle your debt with the IRS for just pennies on the dollar with their Offer in Compromise program? The program allows taxpayers to settle with the IRS on tax debt that has been incorrectly assessed or for liabilities they cannot afford to pay.

The IRS will accept an Offer in Compromise when it is unlikely that we can collect the full amount owed and the amount you offer reasonably reflects the collection potential (Internal Revenue Code section 7122).

Often it is possible to fully and completely eliminate the taxes you owe - including all penalties and interest - at a discount. There is no preset bottom limit that the IRS will accept to settle your debt especially if your offer is prepared correctly.

If done correctly your debt may be settled for less than 100% of what you presently owe. The key is to determine the least amount that the IRS will accept from you before you make the offer.

Get a no cost consultation regarding the solutions to your tax problems by completing the form below.

Name
Phone
Email
Best Time To Call
Comments