An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship. Not everyone qualifies for the offer in compromise program. We review your unique set of facts and circumstances to evaluate if you would qualify for the program or if other payment options are better suited for your situation. When evaluating your offer we will review the following:
- Income
- Expenses
- Asset equity
- Lump Sum Cash: Submit an initial payment of 20 percent of the total offer amount with your application. Wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.
- Periodic Payment: Submit your initial payment with your application. Continue to pay the remaining balance in monthly installments while the IRS considers your offer. If accepted, continue to pay monthly until it is paid in full.
- Your non-refundable payments and fees will be applied to the tax liability
- A Notice of Federal Tax Lien may be filed
- Other collection activities are suspended
- The legal assessment and collection period is extended
- Make all required payments associated with your offer
- You are not required to make payments on an existing installment agreement
- Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date
We provide tax relief across the United States
Call Toll-Free 877-522-1800
Call Toll-Free 877-522-1800