Offer in Compromise | Tax Settlement | Flat Fee Tax Service
Updated: Nov 22, 2019
Learn more about an Offer in Compromise and how it can help your tax situation. There is much you need to know.
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An Offer in Compromise Can Be Your Answer
An Offer in Compromise is one of the programs the IRS offers that allows you to settle your tax debt for less than the full amount you owe. You may qualify for this tax settlement option if doing so would create a significant financial hardship.
To determine eligibility, the IRS analyzes the taxpayer’s income, expenses, and assets, which allows them to see a snapshot of your ability to pay the debt. The IRS accepts settlement offers that they perceive as the most they can reasonably collect on the debt in a practical period of time. Qualifying for an Offer in Compromise may be tricky but rest assured that if an Offer in Compromise isn’t the right program for you, there may be other tax relief options and strategies.
Hire a tax professional to help you gather the necessary documents, construct an offer and present it to the IRS. A licensed and knowledgeable tax professional on your side increases the likelihood of your approval. FLAT FEE TAX SERVICE CLIENTS HAVE, ON AVERAGE, SAVED 96% OF THEIR TAX DEBT AND HAVE A 95% OFFER IN COMPROMISE SUCCESS RATE.
FLAT FEE TAX SERVICE HAS THE HIGHEST RATE OF OFFER IN COMPROMISE SUCCESS NATIONWIDE.
The Basics of an Offer in Compromise
Make no mistake that the IRS will certainly attempt to collect the full value of the debt you owe, however; they have a rational understanding that financial hardships may occur, making a large tax debt insurmountable for some taxpayers. The IRS wants to do 2 things: Collect money and close cases. An Offer in Compromise accomplishes both IRS goals. Even if a taxpayer pays a $100 or $500 settlement, the IRS would have collected money and thus closed the case.