[youtube_video] WCffTtaJHrI [/youtube_video]
Offers in Compromise is not the “tax relief option” of choice it used to be. It used to be fairly easy to get the IRS to agree to one. But with the downturn of the economy and the IRS being inundated with these kinds of requests, things have certainly changed. Many tax resolution firms understand that when someone is in so much tax debt that they feel like they can’t get out, it’s music to their ears to hear that there is such a program available. So these firms will play on those feelings and suggest that they are the best at getting the taxpayer an offer in compromise. Don’t fall for these tricks. Modern day offers in compromise are reserved for people facing truly dire straits; people who are facing circumstances that make it impossible or at the very, very least, highly unlikely that they will be able to pay off their tax debt in their lifetime. Offers in Compromise are reserved for people with very special circumstances at the discretion of the IRS.
What Are Acceptable Special Circumstances For An Offer In Compromise?
An Offer In Compromise should only be considered by taxpayers who owe so much in tax debt that they have no way of ever getting out of it. Here’s how it works in a nutshell:
1.) The taxpayer proposes a compromise to the IRS:
“I will never be able to pay off the taxes I owe but I want to be compliant with the IRS. How about I pay you 20% of what I owe and we call it even? If you do, I’ll pay the 20% right now and never get behind on my taxes again.”
2.) The IRS will scrutinize your income potential and assets. If they determine that you’re right, it’s in their best interest to accept what you are offering. It saves them time and money in collection efforts on someone that can’t pay them back anyway. It works all the way around.
Do you wonder if you fall into the “special circumstances” category that will likely get an acceptance from the IRS? If you’re young or middle-aged and have a job or are able to work, no matter how much you owe, you will probably get a denial from the IRS. However, if you’re retired or permanently disabled and are barely making it on a fixed income, the IRS may consider an Offer in Compromise (OIC) because it’s unlikely your circumstances will change in your lifetime. Every special circumstance is considered by the IRS and their determination is subjective. There are no hard rules in OIC acceptance, only guidelines. It is time consuming and expensive to request an OIC. Not only is there a significant, non refundable fee just to apply for the Offer in Compromise but whatever payment you send in with the request (a payment is highly recommended as this betters your chance of getting an acceptance) is also non refundable.
Get Help (http://irstaxreliefnow.org/irs-offer-in-compromise/)
Consult with an Enrolled Agent before moving forward with the request for an Offer in Compromise. These are very complicated and serious. IRS Tax Relief Now has Enrolled Agents experienced in OICs and we will happily talk to you about your particular circumstances to determine if you are a likely candidate in the eyes of the IRS. We invite you to contact us 24 hours a day, seven days a week for this free consultation. If we determine that you are not likely eligible for an OIC, we’ll be happy to discuss your more suitable options and help you through your decision making process. Every consultation is confidential and there is never any obligation to hire our firm. We’re glad to help. Get to know us better by perusing our website. We have plenty of information there to help you better understand your tax issue(s). We have also provided a convenient link to our page on the Better Business Bureau’s website where you will see we maintain a perfect A+ rating and never a complaint in the history of our firm. Our friendly tax advisors are standing by now via phone, mail or online chat. You have nothing to lose by giving contacting us. That’s your first step in taking care of your tax debt once and for all. Contact us today and sleep better tonight!
