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Offer in Compromise

The IRS Code states: “We 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 an enormous discount. There is no preset bottom limit that the IRS will accept to settle your debt especially if your offer is prepared properly. If done correctly your debt may be settled for only 5-15% 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.

THAT SOUNDS LIKE A FANTASTIC DEAL DOESN’T IT!!!

Well the truth of the matter is that the IRS rarely accepts an OIC from a private individual because they feel that they can get more by attacking your assets like your home or automobiles. Of course you see all of those advertisements on TV promising you the world and again … that sounds like a fantastic deal but do yourself a favor before giving any of those companies a great deal of money in hopes of making your problems disappear.

Our expertise comes into play when it is necessary to determine if an Offer in Compromise is a valid way to attack your specific situation. We will not simply file an OIC knowing full well that it will not be accepted. We know what it takes to satisfy the IRS without breaking our clients. We know when and OIC will be accepted or not.

If you don’t qualify for the IRS Offer In Compromise program, a Payment Plan may be the way to resolve your problem. Setting up a payment plan with

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Installment Agreement in place, we will work diligently to ensure that some or all of your penalties are abated.

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