Offer in Compromise

Sign saying You owe the IRS SSSYou owe the IRS. You can’t afford to pay the IRS. You’re in a bind.

The good news is you may qualify for the Offer in Compromise program through the IRS. What is an Offer in Compromise?

An Offer in Compromise is an agreement between the taxpayer and the IRS that resolves the taxpayer’s debt for less than what is actually owed. Yes, the IRS does have the authority to “compromise” or settle tax liabilities, under certain financial circumstances. The most common circumstance is when it is unlikely the taxpayer will ever be able to pay the liability in full, and the amount offered reflects what the taxpayer can realistically pay.

The Offer in Compromise is a win-win situation for all involved — the taxpayer and the IRS. The taxpayer can finally breathe a sigh of relief knowing their tax debt has been taken care of. The IRS can find relief in knowing, in more cases than not, they collected more on the debt with an Offer in Compromise than they would have without it. Also, the taxpayer is more likely to stay in compliance when it comes to filing and paying future taxes as part of the condition of the Offer in Compromise agreement.

At Tax Pros Plus, we never advise any taxpayer to deal with the IRS themselves. Tax Pros Plus has an experienced team of tax experts to help negotiate an Offer in Compromise for taxpayers that qualify for the program. The Offer in Compromise program is very complex and time-consuming, sometimes taking as little as six months and other times as much as two years. Results are not the same for all taxpayers, but you can be assured that you can face the IRS with confidence when you have the enrolled agents at Tax Pros Plus on your side. Give us a call today and take the first step towards getting peace of mind.