Many taxpayers are desperate for IRS offers in compromise — and for good reason: this program provides relief by making it possible to settle for less than the total amount owed. It’s an enticing option for those dealing with the heavy burden of tax debt.
Unfortunately, in their eagerness to bring stressful tax issues to a close, many people place themselves at the mercy of less than reputable companies known as OIC mills. These scammers offer wild promises of favorable OIC deals but fail to actually deliver.
What Is an Offer in Compromise Mill?
A variety of tax services promise to streamline the offer in compromise application process. Some are more trustworthy than others. Those referred to as ‘mills’ prioritize quantity over quality, striving to take on as many OIC cases as possible without actually giving any particular application the attention it warrants.
How to Spot an Offer in Compromise Mill
Many tax services guarantee OIC acceptance. This promise should be the first source of alarm. While a skilled tax agent can dramatically increase the likelihood of obtaining an OIC, it’s possible to be rejected even when you and your representative do everything right. Some accounts simply do not qualify, no matter how thorough the application or how reasonable the offer may seem.
The other key sign of suspicion: unrealistic promises regarding offer amounts. Some services will claim that it’s possible to settle for pennies on the dollar, but this is rarely realistic. If an OIC seems too good to be true, it probably is.
Are you currently on the hunt for a reputable tax resolution service? As you strive for an OIC, be wary of any company that guarantees success. The Highland Tax Group boasts a strong reputation among taxpayers and the IRS alike. Contact us today to learn more about our background and our approach to OIC application.