Offers in Compromise
An offer in compromise is a formal agreement between a taxpayer and the IRS that settles the taxpayer’s debt for less than the full amount owed. It allows taxpayers that cannot afford to full pay their delinquent tax liability the opportunity to settle for less.
It is a rather long process involving application, proof of assets, analysis of income and ability to pay (or lack of ability) and tax months to complete. Apart from these negatives, if you qualify, it can provide relief and perhaps return your financial life to normal.
Over the years we have helped people resolve problems. You may see ads on TV offering help. What these ads don’t say is the significant up-front charges and low probability of success. We will bill you on a time and material basis, not a fixed up-front amount, and will be honest about your chances for success. We base our opinion of success on the facts and circumstances presented by you.
We’d be pleased to help you explore the possibilities an OIC may present. Contact us at info@BarrySchuyler.com for a free, confidential consultation.