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Offer In Compromise
We Solve IRS Tax Problems

Do you owe the IRS money and are having trouble making ends meet?

Don’t worry! There is a solution!

The IRS knows that not everyone can afford to pay off their tax debts in full, right away.  That is why they have created several programs that can help people experiencing financial trouble reduce their tax debts.  They offer payment installment plans and a way to reduce your overall tax debt, called an offer in compromise.

An offer in compromise (OIC) is an agreement, in which the IRS agrees to settle your debts for less than you owe. Based on your income potential, you will present an offer of the amount you propose to pay the IRS to settle your tax debt.

Types of Settlements

  1. Cash Offer—is due within 5 months of when the offer is accepted
  2. Short Term Deferred Offer—is due within 24 months from time of offer, paid in equal monthly installments
  3. Long Term Deferred Offer—is due before the Collection Statute expires, paid in equal monthly installments

Offer In Compromise Qualifications

Typically, an offer in compromise is a last resort option.  The IRS uses criteria to assess who qualifies for an offer in compromise. These criteria will assess your financial situation and whether you have the ability to repay your debt through other payment options. You must be able to prove that your offer in compromise is equal to or greater than the reasonable collection potential, or the amount you are able to pay.