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Offer In Compromise
Offer in Compromise program helps you settle your debt with the IRS for just pennies on the dollar. The program admits taxpayers to settle with the IRS on tax debt that has been incorrectly assessed or for liabilities they cannot afford to pay.
The IRS rules state that they will accept an Offer in Compromise when it is unlikely that they can collect the full amount owed and the amount offered reasonably reflects the collection potential (Internal Revenue Code section 7122).
Usually, it is possible to fully and completely eliminate the taxes you owe – including all penalties and interest – at an enormous discount. There is no pre-defined bottom limit that the IRS will accept to settle your debt especially if your offer is done “right.”
If done properly your debt may be settled for only 5-15% of what you presently owe. The basic thing is to determine the least amount that the IRS will accept from you before you make the offer.
Feel free to contact us today and get a free consultation on the solutions to your tax problems.
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