An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can’t pay your full tax liability in a reasonable time horizon or doing so creates a financial hardship. For being approved for this solution, the IRS consider your unique set of facts and circumstances:

• Ability to pay
• Income;
• Expenses;
• Asset equity

How does it affect me?

This solution allows you to pay your tax while not paying its full amount which could put you into a financial hardship. Generally speaking, you will offer to the IRS the maximum amount you are able to pay or collect during the prescribed period of time. If your offer is accepted, you will be listed as a taxpayer who paid their tax successfully; as a consequence, you will avoid possible issue of future penalties, liens and levies.

 We can help!

Although this solution might seem appealing, it is usually recommended to check also different payment options before choosing an offer in compromise. We will gladly provide you with professional consulting, reviewing your case and checking all possible way to pay your tax. When offer in compromise will be found as the most suitable by our experts, we will choose the most suitable payment option for you, calculating amount that should be offered to the IRS.