Offer in Compromise

You work hard to enjoy the fruits of your labor – start a family, raise kids, buy your dream home, go on a dream vacation… Sometimes life can deal you the bad cards. The money may slip through your fingers faster than you think, or an unexpected life event may come with a huge price tag.  You may not have any money after all to pay taxes and be afraid to even open envelopes with IRS notices.  Are there any options left when you are pressed into the corner?  Is there any relief available so you can move on with your life and not look back?

Fortunately, there is a way to dispose of your tax debt in a way that does not involve paying it in full.  This way is called Offer in Compromise. Basically, if you qualify by showing that your future income and current assets are not adequate to repay your IRS debt, then IRS is likely to reduce your tax debt by 20% to 90%.  The process is not easy and we do not recommend that you try to handle this on your own as it is much more difficult to repeat the process once your filing has been rejected.

We will collect all necessary data from you, analyze your chances for success, and then, if we believe there is a good likelihood of IRS approval, we prepare the filing package.  IRS may take around six months to work out a resolution so you need to be patient.  We handle the entire process from start to finish, including phone calls, faxes and letters to IRS, all under the Power of Attorney you sign.

In our experience, OIC is a viable option if you lost your job, change careers, go through life-changing events such as divorce, go on a disability, are diagnosed with the terminal illness, or any time you have crushing debt and seemingly no way to repay it in the foreseeable future.  Do not let it get to you – contact us at once for a free assessment.