Tag Archives: Offer In Compromise

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. […]

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, […]

Offer in Compromise Payment Agreements: What You Need to Know

The idea of an offer in compromise may be appealing, but what if you still struggle to pay off your tax debt or negotiated to offer amount? It’s in the best interest of the IRS to grant you a viable means to pay up, so thankfully, payment plans are available beyond the recommended lump sum […]

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 […]

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 […]

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 […]