IRS Tax Offer in Compromise

With the IRS Offer in Compromise program, a taxpayer can potentially save thousands of dollars on their tax debt. However, the IRS Tax Offer in Compromise is neither a give-away nor an amnesty program – It is a business decision on the part of the IRS. Through a formal written process, the taxpayer must demonstrate that the amount he or she owes will not reasonably be collectable within the next five years, or that doubt exists that the tax liability was ever incurred in the first place. Basically, the taxpayer must prove that it is in the best interest of the IRS to accept a lower amount as settlement, rather than chase that person around for years without ever collecting the entire debt.

It is also important to realize that an IRS Tax Offer in Compromise is not a negotiation. Instead, the IRS uses a specific set of formulas to determine what they could legally collect from you over the next several years after subtracting out allowable living expenses (such as rent, car payments, etc.) We use the same software the IRS does in order to analyze all your allowable expenses and ensure that your IRS Tax Offer in Compromise is submitted for the lowest amount possible. 

Submitting an IRS Tax Offer in Compromise

Submitting an IRS Tax Offer in Compromise begins with a free consultation from an experienced Fresh Start Tax Resolution tax specialist who will conduct a brief interview regarding your financial situation and, in as little as ten minutes, determine if you qualify. If you do, we will send you our questionnaire that asks you to provide information similar to that which you gave us in the initial interview, only in greater detail. Once we have received this back from you, we take care of the rest! 
While the IRS is considering your IRS Tax Offer in Compromise, all collection action is put on hold, therefore you will not have to send them any money during this period. It normally takes the IRS between 6 to 12 months to approve an IRS Tax Offer in Compromise, so you’ll have some time to put together the amount of your settlement. It may even be possible to obtain a payment plan on your IRS Tax Offer in Compromise if you can’t come up with the full settlement amount right away. The IRS Tax Offer in Compromise is an excellent program that has helped many thousands of taxpayers get a clean slate with the IRS. HOWEVER, the IRS is not obligated to accept every IRS Tax Offer in Compromise that they receive. In fact, many, many more IRS Tax Offer in Compromise submissions are rejected than are accepted, either because the taxpayer submitted it incorrectly or because they did not qualify in the first place. Fresh Start Tax Resolution has the expertise to get your IRS Tax Offer in Compromise done right, and we will never file an IRS Tax Offer in Compromise for someone unless we know for certain they qualify. 

To find out if the IRS Tax Offer in Compromise program is right for you, CLICK HERE, or call  (888) 282-4697 today.

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