Offer in Compromise

Offer in Compromise

Do you owe back taxes to the IRS? Did you know that you are able to settle the tax debt for less money with an Offer in Compromise? It’s true! For example, you can turn a $150,000 tax debt into a $150 tax debt. If you can relate to this scenario, Offer in Compromise is certainly the right IRS tax resolution for your needs. At Tax Defense Partners, we specialize in OIC. You can count on us to produce a favorable outcome for you.

Understanding Offer in Compromise

An OIC is a type of out of court agreement between a taxpayer and the IRS. OICs are designed to negotiate a resolution to the taxpayer’s liability and place collection efforts on hold. Do keep in mind that the IRS has the power to compromise or settle federal tax liabilities by accepting less than full payment, provided the taxpayer can provide valid reasons.

Offer in Compromise

Offer In Compromise Experts

At Tax Defense Partners, we employ an array of strategies to structure IRS payment plans. Our team evaluates the transcripts of your tax account to understand what the IRS sees. Next, we develop a tax resolution strategy designed to resolve the totality of your tax problem.

Our experts will proceed to evaluate your personal economic circumstances. We will find out what you can afford to pay, as well as when and how you can facilitate the payments. With this information and our expertise in tax law and regulations, our company negotiates a settlement that satisfies IRS guidelines and legal requirements.

Once both parties can live with the proposed solution, your tax problem will no longer exist. You can then pay the lowest amount allowed by law.

What Happens If You Opt for Offer in Compromise?

If you qualify for an OIC and meet the IRS criteria, our veteran tax specialists, enrolled agents, and tax attorneys will contact the IRS on your behalf to negotiate the best OIC settlement.

As the negotiations usually center on your living expenses, monthly income, and valuation of your assets, be prepared to disclose your full financial information to the IRS. You may be required to provide supporting documents to verify expenses and income claimed.

Do note that the process can take anywhere from three to six months from the time of submittal. In some cases, an OIC settlement may take up to a year to conclude. Once your proposal is accepted by the IRS, you have approximately five to 12 months to pay the settlement amount.

Offer in Compromise

Choose Tax Defense Partners For Offer In Compromise Services

At Tax Defense Partners, all our professionals are certified tax resolution specialists. Our team has the advantage of a national perspective pertaining to OIC processes. We years of experience in handling active cases throughout the U.S. We are meticulous in our work and can prevent unnecessary errors and any misapplication of tax law while negotiating your OIC settlement. We also aim to reduce our clients’ worries, thus provide regular updates as their case progresses.

Start checking whether you qualify for an OIC settlement today!
Call Tax Defense Partners now to schedule an initial consultation with us.