IRS Question Corner: Offer in Compromise
Question: According to the news media, the Internal Revenue Service has been becoming more aggressive with taxpayers. So how does the Offer in Compromise fit in if the IRS is so aggressive these days?
Answer: It’s hard to understand, isn’t it? At the same time the IRS has become more aggressive with tax cheats and debtors, the tax-collecting agency also has a program like the Offer in Compromise, which seemingly goes easy on taxpayers.
Let me explain: For years, the IRS tried hard-as-nails collection tactics. They worked for some taxpayers. Others just continued to hide, running from their debt and forcing the IRS to throw more and more money at trying to collect from them.
The Offer in Compromise doesn’t make the IRS soft. Far from it. In fact, the Offer in Compromise actually allows the IRS to collect more from taxpayers. In some cases, as the IRS has discovered, taxpayers simply can’t pay their debts — no matter how many times an agent knocks on the door. What the Offer in Compromise does is allow taxpayers to settle their tax debt once and for all and with an amount they can actually pay.
For taxpayers who want to settled up and end their tax nightmare, the Offer in Compromise is the perfect solution. If you are one of the thousands of U.S. taxpayers unable to pay your tax debt, the first thing you should do is consult a qualified tax professional. He or she will analyze your previous returns, determining exactly how much you owe, and then discuss an Offer in Compromise with an IRS agent.
If you qualify, the Offer in Compromise can reduce your current tax debt to pennies on the dollar.
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I solve IRS problems like yours every day. I’m an IRS Problem Solver. For a free, no-risk consultation, please call my office at 818-774-1813.
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Tags: IRS debt, IRS settlements, Offer in Compromise, tax expert, tax resolution, tax resolution expert, tax settement
