If you are unable to pay the full amount of taxes you owe, you may qualify for an offer in compromise.
An offer in compromise allows you to settle your tax debt for less than the full amount you owe.
The IRS will review your personal set of circumstances, including your income, expenses and assets, to
determine your ability to pay. If the IRS determines that the amount you offer is the most it can expect
to collect within a reasonable period of time, the IRS will typically accept your offer.
Determining the amount to offer to the IRS can be a tricky process. If the offer is too low, the IRS will not
accept the offer. The IRS provides a formula to tell you what the IRS believes your offer should be.
However, this formula does not take into account the special circumstances faced by many taxpayers,
such as serial unemployment, medical conditions, disabilities, work-related injuries, and family
difficulties. All of these circumstances can affect the amount you can afford to pay to the IRS, but if they
are not presented properly, they will not be considered by the IRS in the Offer in Compromise process.
We believe that this process is simple and should be affordable. We offer our clients the option to flat rate this service for $1500 rather than pay us the hourly fees to prepare and file an Offer In Compromise. Please contact us for questions or more details.