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IRS Offer in Compromise Program: January 2017 Edition

According to a proposed rule set published in October 2016, the Internal Revenue Service (IRS) could soon increase the fee for its tax liability IRS offer-in-compromise (OIC) settlement program. By hiking its cost from $186 to $300 after February 27, 2017, the agency aims to lose less money on the program. However, the IRS would […]

The Modernization of the IRS Offer in Compromise Process: What’s Happening and What it Might Mean for You if You Want an OIC!

The Internal Revenue Service (IRS) will make all IRS offers in compromise cases available online instead of just having hard copies available at local offices, according to a new report from the Treasury Inspector General for Tax Administration (TIGTA). Following several high-profile scandals throughout the early 1950s, the IRS was forced to provide the public […]

IRS Offer In Compromise Saves $20,000!!

Our client came to with a tax bill totaling just over $22,000. He needed to file a few tax returns and also needed to deal with the outstanding issues facing him from the IRS. He was scared, unsure as to where to go, and moreover what to do about his IRS tax situation. He knew […]

IRS Offer in Compromise Settled for $8,000!!

I had a client come to me in the spring with tattered copies of IRS notifications, an IRS offer in compromise booklet, and several other pieces of paper he couldn’t make sense of. Turns out, he had filed an IRS Offer in Compromise on his own, and it was immediately denied. Fortunately, for our client, […]

7 Fascinating Statistics About the IRS Offer in Compromise

If you’re struggling under the burden of significant tax debt, it may be possible to achieve a clean slate without paying significant penalties or late fees, and settle with an IRS Offer in Compromise. If you’re suffering economic hardship or you are otherwise able to prove a “doubt as to collectability,” you may be eligible for […]

After Your Offer in Compromise Success: How to Stay Out of Trouble with the IRS Going Forward

After months of waiting, you just received the notification via snail mail that you have been waiting for: The Internal Revenue Service has agree to accept your Offer in Compromise, drastically cutting your tax liability and removing a huge burden from your proverbial shoulders. One thing is certain – despite a favorable outcome, you never […]

Why Is It So Hard to Understand the Rules for IRS Offer in Compromise?

Why Is It So Hard to Understand the Rules for IRS Offer in Compromise? Media ads blast through the airwaves, promising that you can settle your outstanding tax bill for just pennies on the dollar. However, these commercials make it seem as though anyone will qualify for these ridiculously low payments. While it’s true that […]

Why Do So Few Americans in Debt to the IRS Win Their Offer in Compromise Cases?

While the Internal Revenue Service (IRS) made changes to its Offer in Compromise (OIC) program in 2012 and enacted more flexible terms, many Americans still struggle to win their cases. Why? And what can you do to win yours or at least position yourself for best results? Understanding how the IRS evaluates OICs might help […]

6 Critical Insights about the IRS Offer In Compromise Program

The Internal Revenue Service’s Offers In Compromise (OIC) program helps qualified taxpayers reduce what they owe to the federal government. However, the IRS will not make an OIC agreement if the taxpayer can pay his or her debt in full through a payment plan. The following tips can help you as you prepare and submit […]