Quick Fact

The IRS Collection Officer has enormous power and latitude. They cannot correct or change information, their only job is to take your money and/or assets. There are few IRS guidelines to limit the parameters of their discretion and job function.
 
Offer In Compromise
An offer in compromise is an agreement between a taxpayer and the IRS that resolves the taxpayer's tax debt. The IRS has the authority to settle, or "compromise," federal tax liabilities by accepting less than full payment under certain circumstances. A tax debt can be legally compromised for one of the following reasons:
  • Doubt as to Liability - Doubt exists that the assessed tax is correct.
  • Doubt as to Collectibility - Doubt exists that you could ever pay the full amount of tax owed.
  • Effective Tax Administration - There is no doubt the tax is correct, and no doubt that the amount owed could be collected, but an exceptional circumstance exists that allows the IRS to consider a taxpayer's OIC. To be eligible for a compromise on this basis, the taxpayer must demonstrate that collection of the tax would create an economic hardship or would be unfair and inequitable. - Source IRS
Qualifying for this program is relatively straightforward: when there is a financial hardship and the amount owed exceeds one's ability to realistically pay off the debt in five years, the IRS is willing to settle for literally pennies on the dollar. On average, the qualified taxpayer saves thousands of dollars, and the IRS, in turn, ends their costly collection process and gets a compliant taxpayer.

For sound advice and clear cut answers to your offer in compromise questions, call us today at 1-800-410-8605 or fill out our on-line application and one of our certified partners will contact you quickly to get the tax resolution process started fast.

Back to Services

HOME  |  ABOUT US  |  SERVICES  |  FAQ  |  FORMS  |  TESTIMONIALS  |  CONTACT US
Web design by Gecko Media.