Offer in Compromise

The IRS has a program called “Offer in Compromise”. It allows taxpayers with large tax liabilities to negotiate a tax settlement for often much less than the balance owed. Years ago some tax practitioners promised to settle back taxes for “pennies on the dollar” using this program. However, the IRS cracked down on these claims and the truth is that only some taxpayers can qualify for the Offer in Compromise program. We have processed many Offers in Compromise cases, some indeed for pennies on the dollar, but we will first have to evaluate your situation (which we do free of charge). In general, to qualify for an Offer in Compromise a taxpayer needs to have a limited ability to repay a tax debt and have few personal or business assets. Not everyone will qualify and our firm will not file an Offer in Compromise unless we feel there is a good chance the offer will be accepted by the IRS. We don’t want to take your money for a losing case. So, if you would like to see if you qualify for this program free of charge, give us a call.