Posts Tagged ‘tax compromise’

Tax Compromise Improvement Act Helps Struggling Taxpayers Enter into Offer in Compromise Agreements with IRS

Monday, May 18th, 2009

Great news for troubled taxpayers! New legislation has been introduced to end Offer in Compromise down payments and make it easier for recession burdened taxpayers to enter into a tax settlement with the IRS.
Qualifying for the Offer in Compromise program can save taxpayers thousands of dollars in taxes, penalties and interest. Negotiating a compromise on your back tax deb is the closest thing to “amnesty” that the federal government offers
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Posted in Offers in Compromise, Tax news and tips | No Comments »

In Ailing Economy, More Taxpayers Are Likely to Qualify for Offer in Compromise

Sunday, January 25th, 2009

Faced with overwhelming tax debt, more Americans than ever will be hoping to qualify for the IRS Offer in Compromise (OIC) program and save thousands of dollars in taxes, penalties and interest.
In 2007, approximately 46,000 offers were submitted to the IRS nationally and only 12,000 were accepted. This year, there will be more offers submitted this year, as well as a higher IRS acceptance rate due to the state of
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Posted in Offers in Compromise, Tax news and tips, Working with the IRS | 5 Comments »