Offers in Compromise
Offer In Compromise Attorney
Reduce Your IRS Tax Debt Through an "OIC"
If you have no money left over at the end of the month and no significant assets, an OIC may give you a “fresh start” by wiping out your tax debt. Our lawyers can help!
Do you want to reduce your IRS tax debt? An IRS tax settlement through an “Offer In Compromise” may be the answer. What is an offer in compromise or “OIC”?
An OIC allows a taxpayer who cannot afford to fully pay an IRS (and maybe state) back tax liability the chance to settle . . . once and for all . . . for less than the amount owed!
The IRS does not accept every offer in compromise. It has certain guidelines it considers. The main thing that the IRS looks at closely is the taxpayer’s financial situation — past, present, and future.
The offer in compromise process is complicated. It involves completing several IRS forms, gathering and organizing necessary financial records, complying with the IRS tax standards, regulations and ultimately filing a complete and qualified “offer” for review with the IRS.
Unfortunately, many taxpayers who file an IRS “offer” have it returned by the IRS for “technical” reasons, like a missing form or documents. This means that the “offer” never makes it to a point of final IRS review. So, completing the maze of IRS procedural requirements is necessary for an offer in compromise to even be reviewed by the IRS.
We have successfully filed and obtained numerous OIC’s for our clients saving hundreds of thousands of dollars.
To find out whether you qualify for a tax debt settlement call us confidentially or complete our confidential contact form to schedule your FREE initial consultation.