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What’s the Deal With IRS Form 656?

You’re ready to ditch your IRS tax debt for good — and you believe that the offer in compromise program is your best option. Before you can take advantage of this option, however, you’ll need to complete IRS Form 656. Thoroughness and accuracy are critical, as a single mistake could lead to rejection. Keep the […]

What Is a Doubt as to Liability Offer in Compromise?

Offers in compromise provide a valuable means of reducing your total debt owed to the IRS. Unfortunately, this approach is not nearly as straightforward as it may initially appear. Depending on your situation, you could be forced to overcome a variety of hurdles before finally achieving OIC relief. Chief among them? Proving a ‘doubt’ to […]

5 Things You Can Do (Accidentally) to Mess Up Your IRS Offer in Compromise

The IRS offer in compromise can dramatically lighten your tax burden, but you shouldn’t rest easy just yet. Far too few offers are accepted, with the following mistakes often standing in the way. Skipping Financial Details Attention to detail is critical when you apply for an OIC. Plan to submit extensive information about your earnings, […]

The Most Common Questions People Have About the IRS Offer in Compromise Program

The IRS offer in compromise provides the promise of a fresh start, complete with considerable tax savings. Unfortunately, this arrangement is notoriously difficult to achieve. Given this program’s high rejection rates, there is no room for error. It’s in your best interest to clarify the following questions well before you apply: What if my offer […]

Fall 2019 Best Practices for Scoring an Offer in Compromise from the IRS

An IRS offer in compromise could be the ultimate solution to your current tax woes. This arrangement allows you to settle your current tax debt for far less than what you actually owe. It’s not exactly easy to achieve, however. Below, we’ve highlighted a few up-to-date options for scoring an offer in compromise in 2019. […]

James M., Colorado

Mike and his staff at Highland Tax Group, Inc. were great communicators throughout the process, which ended with an amazingly successful outcome! I was very impressed with their ability to explain all the options concerning the problem and keep us informed throughout. I would recommend them to any who needs their services.

Appealing a Rejected Offer in Compromise: The Right Way Versus the Wrong Way

The IRS offer in compromise may be an excellent option for resolving tax debt, but it’s never a sure thing. Typically, less than half of the applications are accepted. In 2014, for example, just 27,000 of the 68,000 offers the IRS received were ultimately accepted. You’re certainly not alone if you’ve suffered rejection at the […]

Offer in Compromise — Resources to Help You Understand This IRS Option

The IRS Offer in Compromise can prove a valuable source of tax relief, but it’s not ideal in every situation. This program is inherently difficult for the average taxpayer to understand. Confusion surrounding eligibility standards and application procedures could ultimately lead to rejection. The more you know, the better prepared you’ll feel for the difficulties […]

What Does Doubt As to Collectibility Mean?

You’ve determined that an offer in compromise is your best bet for resolving your tax issues. Unfortunately, the hard work is only about to begin. As you launch into the OIC application process, you will quickly discover that a lot depends on whether you possess a doubt as to collectibility or doubt as to liability. […]

Does your Accepted Offer in Compromise Become Public Record?

A variety of factors may go into your decision to pursue or avoid an IRS offer in compromise. For some candidates, privacy is a chief consideration. If you count yourself among this growing group of taxpayers, it’s important to understand: offers in compromise are far from private. Accepted offers are a matter of public record, […]