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Offer in Compromise

Congress developed this system to help collect outstanding tax in a relatively short period of time. They wanted to offer taxpayers an opportunity to eliminate debt for a fraction of what was originally owed. This way they can close millions of costly cases with a much shorter process. While the program continues to be improved upon, it is the most effective way for the taxpayers and IRS to bring quick and final resolve to each outstanding case.
“Offer in compromise” is an agreement between the taxpayer and IRS that concludes the taxpayer's tax debt. The IRS can decide to settle, or "compromise," federal tax liabilities by agreeing to accept a lot less from the full amount originally owed under certain circumstances. Legally, tax debt can be settled for any of the below 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

Being able to qualify for this program is pretty straightforward: when a financial hardship and the amount owed is larger than the taxpayer's ability to reasonably dissolve the debt in five years, the IRS is willing to compromise for tiny fractions of  what was originally owed. Taxpayers that fit this criteria  usually pay thousands less than originally owed, while the IRS is also able to end the costly collection process and benefits from a compliant taxpayer.
Literally millions of ill-prepared cases use to be submitted, choking and stalling the system. Because of that, every taxpayer's submission is put under the magnifying glass for accuracy. Any tiny mistake and the figure that the IRS offers to compromise with will be very poor, or even denied.  Fortunately for you, Tax Relief Specialists' seasoned professionals have years of proven experience and knowledge about the “ins and outs” of the system. We use the exact same process as the IRS, so we know how to calculate the smallest number that the IRS will agree to before we even submit your case, this way we can get rid of any question or concern you may have. Call us right now and any one of our tax professionals will explain the entire process to you.  They will give you a free and private consultation about your specific situation at hand.  Feel free to ask them about any questions or concerns you may have.

Call now at 1-800-405-8360
We promise it will be a painless and beneficial experience!

As soon as you call, a personal tax professional will be attached specifically to your account from start to finish. Your assigned tax professional will go over the particulars of your account and outline the  best path to take for your situation. Please tell them about any certified mail, or any other concerning forms of communication you may have received, so they can prepare your account and address all of the issues that you currently have.  Do not second guess this opportunity. Now is the time to get that tax relief you need.  Give us a call and help is on the way!

 

Free Offer In Compromise Consultation
 

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