Offer in Compromise
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Initial Consultation
The Initial Consultation is the fact finding phase. We want your viewpoint on where you are, what you have done and what the main issues to your tax issues are. We want to know your side of the equation and what your best case scenario goals are. we'll gather personal information that will help us build your personal case profile.
Offer in Compromise Services in California
An Offer in Compromise allows the taxpayer to settle their tax liability for less than the full amount owed. Offer in Compromise may be an option if you cannot pay your total tax liability, or if doing so creates a financial hardship.
Unique case to case facts and circumstances that are considered for an offer in Compromise:
Your ability to pay
Your income
Your Expenses
Your Asset Equity
Offer In Compromise Process
The taxpayer and the IRS mutually agree that there is no way you canpay off all of your tax liability. Either you do not have enough income to pay your bedt, you do not have enough assets to pay off the debt or you do not have enough time to pay the debt.
We make an offer to the IRS representative of the maximum amount they could expect to collect from you.
The Offer in Compromise is generally approved by the IRS when the amount offered is more than likely the most they can expect to receive within a justifiable period of time. They will essentially agree to compromise and lower the tax debt to the amount feasible for the taxpayer.
No matter what the amount of the agreed upon Offer in Compromise, once paid your total tax liability is considered paid.
Please note that an Offer in Compromise is not for everyone and will be just one of the resolution options we will consider during the Investigation Phase of your case.
You will not qualify for an Offer in Compromise if:
1) The taxpayer is not current on all tax filings and payment requirements
2) The Taxpayer is in an open bankruptcy proceeding
Other factors can and will contribute to your overall eligibility for Offer in Compromise.
Let us help you with your Offer in Compromise
Professional representation is always the best opportunity for you to get an Offer in Compromise approved by the IRS. Our team of tax experts is very experienced at submitting and settling OIC cases. Give us a call today to look at your best resolution options.