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How to Frame Your Tax Settlement Offer in Compromise for Success | Florida

Updated: Nov 11


The Offer in Compromise program may represent a valuable method of tax debt help for taxpayers struggling with a tax bill, but it’s easy to see why so many neglect to apply: the IRS settlement process can be confusing, stressful and time-consuming. The IRS designs all of their tax relief programs to be confusing, stressful and time-consuming. Doing do is to their advantage. Offer in Compromise (OIC) standards are confusing to the point that many potential applicants simply assume that they won’t be eligible or qualify. This is simply untrue.

The IRS approves approximately 42% of all Offer in Compromise (OIC) submissions. The IRS receives approximately 80,000 IRS settlement requests per year. While an OIC acceptance can never be guaranteed, a surprising variety of factors can influence the likelihood of success. These go well beyond the basic eligibility standards set in place by the IRS. How a Tax Settlement Offer in Compromise request is framed may matter nearly as much as the numbers and evidence cited within the offer application.

The Need for Transparency

When evaluating all OIC requests, the first stage of OIC approval has the IRS looking to reject the settlement application based on paperwork problems. The IRS will have agents looking for an "i" not dotted or a "t" not crossed. If the do, the IRS will return the OIC application and mark it as "unprocessable" without an explanation. You will have to start all over again. When you get past the first stage, the IRS will seek to verify whether applicants can afford to pay their taxes. A desirable outcome is often well within reach for those who come across as honest. This means outlining "allowable" expenses and assets in detail.

The moment it looks like an applicant has something to hide, rejection becomes far more likely. For this reason, it’s important to include relevant information even if you worry about its impact on your offer.

Don’t Rely on Emotional Appeals

Using emotion can serve as the cherry on top for an effective OIC application, but they alone will not produce a success story. Such details should only be referenced after you’ve double-checked your numbers and provided ample evidence of your financial situation. If you have medical issues, this can be the deciding factor to back up your financial hardship

Heart-wrenching details of hardship will do little good if the facts and figures contained within an OIC application tell a different story. When in doubt, a straightforward, detail-oriented application is your best bet.

You need to be aware of this fact. The IRS has 2 goals always. The first goal is to collect money. The collection can be as little as $100. Any collection goes into their "collected accounts" statistics. The second goal is close a file. The IRS has a never ending supply of cases. The agency has a pragmatic need to clear out cases. An Offer in Compromise accomplishes both goals. The key to a successful OIC is to give the IRS a reason to say yes to the settlement offer.

This article is written by the tax professionals at Flat Fee Tax Relief. Our tax pros have been providing valuable IRS tax debt help at a very affordable fee for a decade. Ours IRS Tax Attorneys have a 96% OIC success rate. Our teams are strategically located in Clearwater, Florida, and San Diego, California. this allows our clients and the IRS to access Flat Fee Tax relief from 8 A.M. Eastern to 6 P.M. Pacific time. Our hours of service are huge advantage when stopping an IRS levy in one day.

Given the important role presentation plays in the OIC process, there’s little room for error. Guidance from an experienced tax resolution service is absolutely essential. Contact the Flat Fee Tax Relief for your free no obligation consultation. Learn how we can increase the likelihood of OIC acceptance. FLAT FEE TAX RELIEF - FLAT FEE TAX SERVICE


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