Offers in Compromise

What is an Offer in Compromise?

Offers in Compromise provide a procedure by which a taxpayer is allowed to settle outstanding tax debt for a compromised amount other than the full amount owed.  There are several preliminary requirements that must be met before one is eligible to compromise tax debt.  This option is a realistic alternative for persons who cannot pay their entire tax liability.  Several factors are considered to determine a taxpayer's eligibility. The taxpayer's income and expenses, along with assets, and the taxpayer's ability to pay the debt.  A general rule considered in accepting an offer is the amount that the Government can expect to collect in a reasonable amount of time. We will determine your eligibility to submit an offer and prepare all required paperwork and, submit it to the Internal Revenue Service for consideration.

We will discuss the procedures in submitting an offer to the IRS, as well as the possible responses to your offer.  A taxpayer is generally required to submit documentation with any offer.  Our office will assist you in providing this documentation and also will negotiate with the IRS to reach the best result for you.