If you are unable to pay your tax debt in full, you may qualify to have your debt settled for less than the full amount owed. The tax relief experts at Federal Tax Management perform this type of negotiation often. We would submit an Offer in Compromise to the IRS, showing that you have exhausted all other payment options or that your tax liability is incorrect.
In some cases, your financial situation may make it difficult for you to pay off all your tax debt, even when taking advantage of tax resolution over the long term via an installment plan. In such scenario the IRS may be willing to accept an “Offer in Compromise” and significantly lower your tax bill.
The Offer in Compromise can be a life-saving form of tax resolution for those who truly need it.
Here is how an Offer in Compromise works:
Getting Help with an Offer In Compromise :
The acceptance rate on OIC’s is fairly low due to errors or omissions on submissions. In order to have a better chance of approval, one should utilize professional assistance for this complex process. Our highly qualified and experienced staff will work very hard to see if this is the best solution for your IRS tax debt. A tax debt can be legally compromised for one of the following reasons: