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Offer In Compromise Page | Tax Resolution | Florida

Updated: Nov 11


Offer In Compromise - IRS Tax Settlement

Did you know that you can settle your tax bill with the IRS for a dramatically reduced amount? An Offer in Compromise (#OfferinCompromise)is the tax settlement program that allows taxpayers to settle with the IRS on tax debt that has been incorrectly assessed or for liabilities they cannot afford to pay.

A taxpayer doesn't need to be "destitute" in order to be eligible and qualified to settle with the IRS. There are some rules that need to be followed but nothing that is impossible. You must owe $10,000 or more. You need to have the last six (6) tax returns filed. You must have little to nothing left over after paying your monthly allowable expenses. There are a few more.

The IRS has been approving approximately 42% of the 80,000 yearly Offer in Compromise submissions.

The tax professionals at Flat Fee Tax relief has a 96% Offer in Compromise success rate. The IRS Code states: "We will accept an Offer in Compromise when it is unlikely that we can collect the full amount owed and the amount you offer reasonably reflects the collection potential..." (Internal Revenue Code section 7122). The IRS wants to accomplish two (2) goals. One goal is to collect money. Collecting money doesn't necessarily mean "all the money." The IRS must show a collection so the IRS will never accept zero dollars. We have many clients who have settled for as little as $100.

The second goal is the most important goal. The IRS wants to close cases. Approving an Offer in Compromise accomplishes both IRS goals. The IRS always has new cases being added to the old cases. The IRS has a never ending supply of cases and tax debt.

It's our job to prove to the IRS that our clients need a Fresh Start and it's in the best interest of the IRS to settle. When you have completed as many successful Offer in Compromise settlements as our IRS Tax Attorneys have, you have a very good idea what settlements will likely sail through the system. There is no preset bottom limit that the IRS will accept to settle your debt especially if your offer is done "right." Every Offer in Compromise will be a little different as no two (2) taxpayers are exactly alike. If done correctly your debt may be settled for a tiny percentage of what you presently owe. The key is to have an experienced tax professional handling the IRS settlement (#IRSsettlement) from start to finish.

The above article is written by the tax professionals at Flat Fee Tax Relief who have been providing valuable IRS tax debt help at a very affordable fee for more than a decade. Our teams are strategically located in Clearwater, Florida, and San Diego, California. This allows our IRS Tax Attorneys to be available to our clients and the IRS from 8 A.M. Eastern to 6 P.M. Pacific time. This is a tremendous advantage when preventing an IRS levy.

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IRS Tax Relief Programs

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IRS Tax Relief Programs