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Offers in Compromise

The IRS Offer in Compromise program provides taxpayers that owe more taxes than they could ever afford, a chance to pay a smaller lump sum amount as full and final settlement of all tax obligations. This program is also available to taxpayers who disagree with the IRS that they actually owe the full amount of the assessed taxes and are requesting that those tax liabilities be reconsidered.

The Offer in Compromise program allows taxpayers to get a fresh start. All back tax liabilities are settled. All federal tax liens are released upon IRS acceptance of the Offer in Compromise once the payment amount is received.

The Offer amount is usually based upon the taxpayers inability to pay the IRS because of the taxpayer's current financial position. The IRS also factors in a taxpayer's ability to pay over the course of future years.

Taxpayers can compromise all types of IRS taxes, penalties and interest. Even payroll taxes can be compromised. While it is difficult to obtain accurate statistics of the IRS Offer in Compromise program, recent statistics indicate that the IRS accepts as many as 50% of all Offers filed with an average amount of less than $.25 on every dollar owed. If you qualify for this program, you can save thousands of dollars in taxes, penalties and interest. This program has been enhanced with recent legislation because the IRS mandate is shifting from concentration on old tax liabilities to prevention of these problems in the first place.