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.
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Bradley R. Bailyn, Esq. , Founder
Bailyn Law provides comprehensive legal and advisory services to closely held and family businesses seeking to capitalize on opportunities, avoid or mitigate risks and create long-term stability through good management and diligent business decisions. We help owners and directors structure successful transactions to improve profitability and liquidity including purchasing and selling entire companies or certain assets, restructuring the ownership, management and operations of the business, raising capital or entering joint venture agreements. We serve as general counsel for our clients, fulfilling daily needs and building long-term relationships of trust and confidence.
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The Bailyn Law Firm, P.C
6301 Mill Lane
Brooklyn, NY 11234
One Rockefeller Plaza, Tenth Floor
New York, NY 10020
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