From the very first phone conversation I was treated as if my case was the only case that existed and was the most important thing in the world. Where I felt unsure and fear, they assured me that I had their support and they would fight until the end, which they did.
Settle Your Taxes and Get the IRS Out of Your Life and Business!
If you owe $10k or more to the IRS or your state and are unable to pay the tax balance, an Offer in Compromise (OIC) allows you to settle back taxes for less than the full amount owed.
Speak to a real tax pro to get answers, a plan and tax relief. It’s free to get started.
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How Hard is it to Get an Offer in Compromise with the IRS?
Only about 40% of the Offers in Compromise submitted to the IRS are eventually accepted. Most OIC offers are rejected on the first attempt due to technical errors in the paperwork.
If this happens, a case can appeal the rejection within 30 days of receiving the rejection notice.
Who Qualifies for an IRS Offer in Compromise?
Generally, the IRS will accept an OIC when the amount offered represents the most that they can reasonably expect to collect within the statute of limitations or some reasonable time frame.
If you have the ability to pay the amount owed through other means such as installment agreements, you will not be accepted for an OIC.
Speak to a Tax Pro Now at 855-893-2310 to See if You Qualify.
Important Points to Consider Before Filing an IRS Offer in Compromise
- To begin the Offer in Compromise process, you must be current with all your tax return filing requirements. If you have not filed your current year’s return, the IRS will consider your account up to date if a valid extension was filed. Additionally, you must be current with all required estimated tax payments or have sufficient withholding. If you are an employer, you must have your tax deposits for both the current and past two payroll quarters before filing.
- An application fee must be paid with the submission of the application, unless you qualify under the provisions available for “low income” taxpayers, generally defined as someone whose income falls below poverty levels. Low income certification is included in the application process.
- If you have already initiated bankruptcy proceedings you would not be eligible for an Offer in Compromise, although you may be able to settle your tax debt through the bankruptcy court.
- The statute of limitations on collection is extended by the period it takes for the IRS to consider your offer.
- OICs are not available for tax years or tax periods that have not been assessed.
- To apply for an Offer in Compromise you are required to provide extensive and detailed personal and financial information to the IRS by completing a Collection Information Statement.
How to Get an IRS Offer in Compromise Approved
Dealing with the IRS can be scary and intimidating. You don’t have to face them alone.
Our tax professionals have handled thousands of cases with the IRS and have the expertise and know-how to file the Offer in Compromise correctly.
When you call for your free initial consultation, we will ask you a few questions about your financial situation that will help us determine your likelihood of qualifying for an Offer in Compromise or any other type of tax relief.
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The Best Tax Representation from Qualified Tax Professionals
- The right IRS representation from a team of more than 140 caring tax professionals who are federally licensed enrolled agents, CPAs, or attorneys
- Extensive experience with IRS tax relief and knowledge to help with back taxes
- 350,000+ clients helped with tax representative services
- Up-to-date on the latest tax code
- Ready resources to perform in-depth assessment and analysis
- Honest answers, no surprises pricing, and personalized attention to your unique tax situation.
See If You Qualify for an IRS Offer in Compromise
Review your current tax situation on a confidential call with your tax professional.
Develop a plan to get you tax relief.
Our Service Promise to You
We will be there for you.
Get consistent communication from our team throughout your case and vigorous representation until your case is closed.
We will be truthful.
Get a realistic evaluation of your situation and know what to expect next.
Your Privacy & Security is our top priority.
Rest assured your personal information and data will be protected with strict security protocols.
Our experience was fantastic. Mary did an excellent job from day 1 explaining the process, explaining how she was going to help us and really made us feel very comfortable. The IRS letters are very confusing and scary but Mary put us at ease and handled everything.
Offer in Compromise FAQ’s
How much will the IRS usually settle for?
The IRS decreases the tax obligation owed in exchange for a lump sum settlement. The settlement is based on the amount you owe, your income, allowable living expenses and what they think you can pay every month in an installment agreement.
Does an IRS offer in compromise hurt your credit?
After an offer in compromise is complete, the IRS will release all tax liens filed against you. This should improve your credit score.
Do you provide state tax relief services as well as IRS tax help?
Tax relief options vary from state to state. TaxAudit licensed tax professionals are qualified to help you with tax resolution in every state.
How long does it take to get a decision on an offer in compromise?
Generally it can take the IRS between six – twelve months to decide whether to accept or reject your offer in compromise. Dispute and appeal processes can take much longer.
Do you help resolve business tax issues?
Businesses may face harsh penalties on top of the burden of unpaid back taxes. We can help you find a solution for business tax issues.
How much does it cost to get started?
For most clients, the average case costs between $2,500 and $7,500. However, an initial consultation is free, so it is free to get started and no obligation.