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IRS OFFER IN COMPROMISE | TAX RELIEF PROGRAMS | FLORIDA

IRS Raises Offer in Compromise Fee to $205, Offers Some Waivers

The Internal Revenue Service (IRS) has announced the release of new regulations that increase the Offer in Compromise application fee to $205. The agency provides an additional way for the IRS to waive the Offer in Compromise application fee for low-income taxpayers. The IRS has announced the release of final regulations that increase the Offer in Compromise application fee to $205. The IRS will waive the Offer in Compromise application fee for low-income taxpayers, based on their adjusted gross income (AGI).

An Offer in Compromise (OIC) is a settlement agreement between a taxpayer and the IRS to reduce a tax debt for less than the full amount owed. An Offer in Compromise is the ultimate tax relief program for taxpayers who can't pay their full tax debt and doing so would create a financial hardship.



The IRS takes into account the taxpayer's overall financial circumstances when considering an OIC in an effort to administratively resolve the tax bill. You need to know this: The IRS wants to accomplish two (2) goals always. One goal is to collect money ($). Even if the settlement is for $100, the collection goes into the collection statistics as a paid tax debt. The second (2nd) goal is to close a file. There is an endless amount of IRS files that need closure. An Offer in Compromise accomplishes both IRS goals. The task of Flat Fee Tax Relief is to show the IRS all of the reasons why it's in their best interest to settle..

Applicants who meet the definition of a "low-income taxpayer" receive a waiver of their OIC application fee. A new provision from the Taxpayer First Act provides an additional way for low-income taxpayers to qualify for a waiver of the OIC application fee.

Normally, the IRS determines if taxpayers fall at or below 250% of the poverty level by looking at their household's size and gross monthly income. The new law provides an additional standard for the IRS to use in making the calculation. The IRS will now also look at a taxpayer's AGI from the most recent tax return to determine whether it is at or below 250% of the poverty level. Our tax pros feel that many taxpayers will qualify for the waiver due to the COVID-19 lock-downs. That is our opinion.


The number one reason the IRS rejects an Offer in Compromise is because the taxpayer tried a "Do It Yourself" (DIY) approach. It would be easier and more effective to have an experienced tax professional prepare and submit the IRS settlement.


This article was written by the tax professionals at Flat fee Tax Relief. Our teams have a 96% Offer in Compromise success rate. For over a decade, we have been providing valuable IRS tax debt help at a very affordable fee for more than a decade.


Flat Fee Tax Relief is strategically located in Clearwater, Florida, and San Diego, CA. This allows our teams to be available from 8 A.M. Eastern to 6 P.M. Pacific time. The extra time always proves invaluable when stopping an IRS levy in one day is of paramount importance.



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