Offer in Compromise

I Want to Settle My Tax Debt for Less Than What I Owe

An Offer in Compromise is a means to settle tax debt for less than what you owe. We have extensive experience with Offers in Compromise.

The IRS will accept an Offer in Compromise when the tax liability is unlikely to be paid and the offer represents a good deal for the IRS. Alternatively, an Offer in Compromise is method of attacking a tax debt when the taxpayer does not owe the tax.

Offers in Compromise can result in taxpayers settling their tax debts for pennies on the dollar.

Once the Offers in Compromise has been accepted for processing by the IRS, the IRS will not continue with its enforced collection activities. No more wage garnishment or bank account levies  while the offer is being reviewed by the IRS.

If the Offer in Compromise is based on the taxpayer’s inability to pay, the IRS will take into  account the taxpayer’s income and the value of most of the taxpayer’s assets realized in a “quick” sale. To compute the value of the offer, you must take into consideration the IRS’ view of what are the necessary costs of housing, transportation, food, clothing, childcare, and healthcare. We have access to the statutes, cases, IRS rulings, and internal revenue manuals that the IRS uses in analyzing offers.

Beware that there are many firms cranking out Offers in Compromises that have  little or no chance of being accepted by the IRS.  Not everybody qualifies.

These companies are not operated by tax  lawyers. They are fee churning mills that simply take your money for a useless service. In fact, the IRS is now  warning people to beware of these operators.  We stand behind our service and  advice because of the level of education and experience we can provide for you.

IRS Consumer Alert About Offer-in-Compromise Promoters

The Internal Revenue Service issued a consumer alert advising taxpayers to beware of claims by promoters that tax debts can be settled for pennies on the dollar through the Offer in Compromise  Program.  Dishonest promoters charge a large amount of money by selling taxpayers false promises of settling their IRS debt for pennies on the dollar.  Part of the IRS consumer alert reads as follows:

IR-2004-17, Feb. 3, 2004WASHINGTON — The Internal Revenue Service today issued a consumer alert advising  taxpayers to beware of promoters’ claims that tax debts can be settled for “pennies on the dollar”  through the Offer in Compromise Program.Some promoters are inappropriately advising indebted taxpayers to file an Offer in Compromise  (OIC) application with the IRS. This bad advice costs taxpayers money and time. An Offer In  Compromise is an agreement between a taxpayer and the IRS that resolves the taxpayer’s tax  debt. The IRS has the authority to settle, or “compromise,” federal tax liabilities by accepting less  than full payment under certain circumstances.”This program serves an important purpose for a select group of taxpayers. But we are increasingly concerned about unscrupulous promoters charging excessive fees to taxpayers who  have no chance of meeting the program’s requirements,” said IRS Commissioner Mark W.Everson. “We urge taxpayers not to be duped by high-priced promises.”

Remember that if you can’t talk directly with a Tax Attorney you should not hire the firm.

Reduced Fee Analysis

For a reduced fee, we will review your situation and tell you whether you are candidate for an Offer in Compromise.  You do have not have to hire us to complete your Offer in Compromise.  This way you can avoid paying high fees without knowing whether of Offer in Compromise is a good idea.  Call us for more information.