Sunday, June 2, 2013

Offers in Compromise

If you owe the IRS money an Offer in Compromise is definitely one of the tools you have available to settle your tax debt.  An Offer in Compromise is the only program available with the IRS that allows you to pay less than you actually owe to completely settle your tax debt.

The first thing that needs to be done is determine whether an Offer in Compromise is a viable alternative for you.  Your financial situation and the amount of tax that you owe must be evaluated.  You have to owe enough to the IRS to make an offer practical.  It will cost you several thousand dollars to have an offer professionally prepared and negotiated.  If you don't owe at least  $15,000 or more, an offer may not make sense.  We offer a Free Consultation to determine if you should attempt an offer.

You must also be in current compliance or an offer to be submitted.  Otherwise, it will just be rejected.  This means all your tax filing are current and you are current with any estimated tax payments. 

If you qualify financially and you are in compliance, an Offer in Compromise is one of the best alternatives to settle your tax debt.  You can literally pay pennies on the dollar if your numbers work out this way.

We are very experienced at preparing, submitting, and negotiating Offers in Compromise.  However, we will not take you on as a client unless you meet our initial screening standards to determine that you may qualify for an Offer.  Many other tax professionals cannot make this statement.  Call us today if you would like a Free Initial Consultation to evaluate whether you may qualify for an offer.

2 comments:

  1. Thanks for sharing your knowledge and experience. I had no idea that an Offer in Compromise was an option. I don't know much about taxes, but I am interested in learning more about the IRS. Do you have any advice that applies to small business owners? http://kimmittconsulting.com

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  2. This is one of the best and easy writings related to taxation. Thanks a tonne! I found this blog.
    Tax Planning in Essex

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