Post Offer In Compromise Process

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Many of my clients seem to get extremely anxious when it comes to following up on their Offer In Compromise once they have satisfied the terms of the Offer In Compromise. However, I always inform my clients that with the IRS, everything takes time. Below are some steps to help you know you have satisfied your Offer In Compromise, and when to expect the process to be over with, for good!

– Initially when making offer payments make sure you write out certified checks or money orders. Doing this will help with faster processing of the payment

– Keep track of every payment you make along with the offer voucher slip, write down the date you remitted the payment, and use a tracking number or certified mail delivery service for each payment

– Once you have satisfied the terms of the offer in compromise, or all payments have been made, wait 30 – 45 days to follow up with the IRS

– You should receive a satisfactory letter regarding your offer in compromise

– Liens will be released shortly thereafter

– You must remain current and compliant with ALL tax obligations going forward for a period of 5 years after the acceptance and satisfaction of your offer in compromise

– The IRS will take any and all tax refunds for a period of 2 years following the offer (1st year within the offer acceptance range, and the following April 15th filing deadline).

If you have filed an offer in compromise, or are unsure as to how the filing process works, the follow up process works, let us know. We would be happy to see if you qualify for an offer in compromise. As always we can be reached at 720-398-6088.