In an IRS offer in compromise, the IRS agrees to settle a taxpayer’s federal tax liability for less than the full amount owed.
The IRS performs a very intensive review before accepting an offer in compromise. All of a taxpayer’s financial information – including assets and anticipated future earnings – will be examined and analyzed.
Not everyone qualifies for an IRS offer in compromise. If you have an outstanding federal tax balance and are interested in learning whether relief through this program is suitable to your situation, give our office a call. We’ll be able to ascertain whether making an offer in compromise is right at this time. If it is, we will represent you through the process. If it is not, we will look at how best to handle your tax liability.