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OFFER IN COMPROMISE

An offer in compromise allows you to settle your tax debt for less than the full amount you owe.

If you are unable to pay a tax debt in full, and an installment agreement is not an option, then you may be able to take advantage of the Offer in Compromise (OIC). The IRS considers factors such as: 

• Ability to pay;

• Income;

• Expenses; and

• Asset equity.

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The IRS generally approves an OIC when the amount offered represents what they think they will be able to collect in a reasonable time. You can compromise all types of taxes, penalties, and interest, even payroll taxes. The IRS accepts approximately 25% of all offers filed.

Contact the Tax Man today to help you with your individual or business Offer in Compromise settlement.