An offer in compromise is a settlement for taxpayers who cannot afford to pay their tax debt. Below are some things a taxpayer should know before applying for an offer in compromise:

  • If a taxpayer can afford to pay what is owed, the IRS cannot accept a settlement offer.
  • In order for the IRS to consider a tax settlement offer, the taxpayer’s required tax returns must be filed.
  • There may be a payment required to apply for a settlement offer.

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Do you qualify for an offer in compromise? Contact Tax Defense Partners today for further assistance.