Archive / Offer In Compromise

RSS feed for this section

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 the 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 […]

What Forms Do You Need for an IRS Offer in Compromise?

You’ve decided that the IRS offer in compromise (OIC) is the best solution to your current tax issues. If your OIC is accepted, you could settle your current tax debt for far less than you actually owe. First, however, you will need to get through a considerable amount of paperwork. The exact forms you need […]

5 Essentials Things to Remember About the IRS Offer in Compromise Program

Mired in tax debt? The IRS offer in compromise could be your path to a fresh start. This program allows select taxpayers to settle their bill for far less than they actually owe. Whether you intend on seeking an OIC or simply would like to know more about your options, you’ll want to keep the following five […]

Innocent Mistakes That Could Disqualify You From Getting An IRS Offer in Compromise

An IRS Offer in Compromise may seem like your best bet for escaping the burden of tax debt that currently dominates your life — but it’s by no means guaranteed. One wrong move on the long road ahead, and you could inadvertently disqualify yourself from this valuable program. As you proceed, make every effort to […]

Tax Statutes Expire Saving Client $100,000!!

Our client hired us in 2016 for a State of NY tax issue. At the time he owed the State of New York for a closed business in the amount of $100,000 give or take, including penalty and interest! The original assessment was $49,000. The State of New York has a personal tax assessment process […]

Do You Qualify for an Offer in Compromise?

What is the Internal Revenue Service’s Offer In Compromise (OIC) program, and what does it take to qualify for this relief? This IRS program allows someone who owes federal taxes to pay less than the full amount that’s due, provided that certain conditions are met. The Offer in Compromise program reviews the best interests of […]

IRS OIC Saves Client $54,000!!!

There have been many exciting stories concerning our clients tax issues this year. The most recent settlement took place for one of our favorite clients. He came to us with a large IRS tax issue in January of 2016 and he didn’t know how to fix the problem. He had been dealing with this tax […]

Fascinating Facts About the IRS Offer In Compromise Program

What happens if you owe the IRS more money than you can possibly pay, even over an extended period like 6 years? (That’s the current maximum for the agency’s repayment installment plan.) To deal with these cases, the IRS has developed an IRS Offer in Compromise (OIC) Program that allows you to repay less than […]

5 Reasons To Be Grateful to the IRS—Even If You Owe Them Money

Few Americans have kind thoughts about the IRS around tax time. But—looking on the slightly brighter side—things could be a lot worse. As long as you file on time, the IRS won’t pile on additional penalties—just interest. Don’t delay filing even if you can’t pay up front. The IRS will charge interest on any money […]