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Offer In Compromise

The Offer in Compromise is the most effective method for seriously reducing your IRS tax debt. If you qualify you will only be required to pay a small fraction of what you currently owe to settle your tax debt for good. To find out for sure if you qualify - Contact us for a Free Tax Consultation.

offer in compromise Before attempting to submit an Offer in Compromise, it is important that you understand how the Offer in Compromise (OIC) program works. First off, an OIC is not a giveaway - accepting a settlement is a business decision on the part of the IRS. It costs the IRS a lot of money to keep hounding people who owe taxes, trying to get them to pay. For people who don't have the means to pay their tax debt in full, the IRS has determined that it is more cost effective (and politically acceptable) for them to take a discounted settlement now, rather than waste resources trying to collect from taxpayers who will probably never have the money to pay in full anyway.

offer in compromise It is also important to realize that making an Offer in Compromise is not a negotiation. The IRS has designed a complex series of formulas that reflect what they could legally collect from you over the next several years. This amount is generally what is offered to the IRS. These formulas are very sensitive to a number of factors; for example, overlooking an allowed monthly expense of as little as $100 can increase your Offer amount by as much $5,000. What we do is make sure that you take advantage of all the options available to make sure that your Offer in Compromise is for the lowest amount possible. 

Finally, the IRS wants to encourage future compliance. When you make an Offer in Compromise, you must sign a firm contract with the IRS, the basic terms of which state that the IRS is willing to forgive your entire tax debt so long as you agree to pay them the amount of your Offer settlement and agree to file and pay your future taxes on time for at least the next five years. The great part about this is that once your Offer in Compromise is signed and accepted, the IRS cannot come back and change your payments or charge you additional interest or penalties for the tax years you settled on.

National Tax Relief has been preparing Offers in Compromise for over 15 years; we are the best in the business at making sure that you get the lowest offer possible.

Should you decide to hire us, National Tax Relief will analyze your tax situation and complete all of the paperwork required by the IRS to submit an Offer in Compromise. If necessary, we will also complete all of the additional paperwork required to suspend IRS collections on your case. When your paperwork is complete, it will be forwarded on to you to review, sign and send off to the IRS. We will work diligently on your behalf and see to it that your IRS liability is resolved for the lowest amount possible under IRS guidelines.

After you submit your Offer in Compromise, it generally takes the IRS six to nine months to process, investigate and accept it. This will give you time to put together the money to pay your settlement if needed. Recently the IRS has begun accepting Payment Plans on Offer in Compromise settlements, so you will not necessarily need to come up with all of the money at once.

Once your Offer in Compromise is paid in full to the IRS, you will be absolved of your entire tax debt permanently and all Federal Tax Liens held against your name, credit, and property will be released. All you have to do from there is stay current on your taxes and payments for the next five years and hopefully you will never have to worry about an IRS tax debt again.


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