Offers In Compromise

An Offer in Compromise (OIC) is a written settlement agreement with the IRS for less than the full amount owed. Generally, it is based on “doubt as to collectibility “(financial evidence that you do not have the ability to pay your tax debts in full within a reasonable amount of time). The IRS uses a strict formula to determine an acceptable settlement amount. A cash offer can be made where the taxpayer pays the settlement amount in full within 90 days of an IRS acceptance. Short term and long term deferred payment plans are also available if the taxpayer is unable to pay the settlement amount in full within 90 days of an IRS acceptance.

You may qualify for an OIC and not know it. IRS Collection Agents might not tell you that you qualify. Or, a seemingly friendly IRS Agent may offer to “help” you prepare and process your own OIC only to discover the whereabouts of any remaining personal assets. Then, the IRS will use its own formula against you, reject your OIC and demand payment in full or simply seize your remaining assets (e.g. money in your bank account, paycheck etc.) through various collection tools, such as a bank or wage levy.

The Tax Attorneys at ProTecT Law Group screen all of our clients for an OIC. We need to see if an OIC is even an option as this may be the only vehicle that saves you a lot of money. If you qualify, we will professionally prepare your OIC and aggressively advocate your interests until a final resolution is reached. More often than not, the IRS commonly rejects OICs, hoping that once rejected, you’ll just pay. We go the extra mile and file a Notice of Appeal Response after the OIC examination as most OIC settlements are usually negotiated and successfully resolved before the IRS Appeals Office.

Speak With An Attorney…..Not a Salesman!

Contact Us today at 888-756-9969 or fill out the form on the right to receive a free consultation!