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IRS Offer In Compromise
Are you in debt to the IRS? Are you unable to pay everything that you owe? You may be eligible for an Offer in Compromise.
An Offer in Compromise is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the full amount owed. In certain circumstances, the IRS may be willing to settle your tax debt for a reduced amount if it determines that it is unlikely that you will be able to pay the full liability within the statutory period.
There are certain conditions that must be met in order for an Offer in Compromise to be considered. For those that do qualify, the IRS will consider their offer by taking into account the taxpayer’s unique financial situation. The IRS will measure the taxpayer’s ability to pay as well as the value of his or her assets before determining whether to accept the Offer in Compromise.
With a free consultation, we can help you determine if you are eligible to submit an Offer in Compromise. If you are eligible, we can assist you in preparing an offer by completing the necessary forms, assembling the necessary financial records, and determining a proposed settlement that is likely to be accepted by the IRS.