Copyright 2011 Tax Settlements, Inc., Salt Lake City, UT (801) 233-1040 All rights reserved.
What is an Offer in
An Offer in Compromise is an
agreement between you and the
IRS that will settle your tax liability
for less than the amount that is
owed. There is dual benefit to the
Offer in Compromise program. You
can save thousands of dollars, and the IRS is able to end the
costly collections process.
Can my debt really be settled for “pennies on the dollar?”
Various tax firms promote that they can help settle your tax liability
through and Offer in Compromise for pennies on the dollar and
may even lead you to believe that the majority of their clients qualify
for this program.
Yes, the Offer in Comprise program is legitimate.
Yes, people have been able to settle their tax debt for pennies on the dollar.
However, the facts are these:
The IRS will not accept an Offer in Compromise unless the amount you offer is equal to or greater than the
reasonable collection potential. Reasonable Collection potential measures your ability to pay the tax debt, your
anticipated future income, and includes the value that can be attained from various assets.
The process to obtain an Offer in Compromise is complicated. This is not an area in which you should attempt to
prepare the paperwork yourself, hire an inexperienced firm or hire an inexpensive service that will supposedly
guarantee results. A poor attempt at an Offer in Compromise may even result in increased collection activity. It is
critical that you hire an experienced firm with years of Offer in Compromise preparation experience.
Does every tax payer qualify for an Offer in Compromise?
No. Not everyone qualifies. There is a very specific process that must be followed to obtain an Offer in Compromise.
The IRS frowns upon people who waste their time by preparing an inadequate Offer in Compromise and the IRS may
even increase their collection activity. Once again, you need to hire an experienced firm to assist you with the
documentation preparation.
Can any tax preparation firm prepare an Offer in Compromise?
To draft an impactful Offer in Compromise takes time and most of all, it takes experience. Due to the complexities of
preparing an effective offer, you should not just allow anyone to prepare the offer. In this situation, experience
counts, and you need to hire a professional that specializes in Offer in Compromise and will assist you from start to
What if my Offer in Compromise is rejected?
Should your Offer in Compromise get rejected, there are several other tax relief programs available that can assist
you with the settlement of your tax debt. Offer in Compromise is not your only option.
Get the personalized assistance you need and deserve
Tax Settlements Inc. offers a FREE consultation and evaluation to review your tax debt relief options. During your
consultation, we will present several workable options to help resolve your tax debt, and assign you a personal tax
settlement professional. Your tax settlement professional will be your singular point of contact from start to finish.
They will work with you every step of the way to patiently bring your tax debt burden to a close.
At Tax Settlements, Inc. you won’t get the run around, your call won’t be transferred to various individuals. You will
always know the status of your case. You will always receive prompt and courteous service. Schedule your free
phone consultation with Tax Settlements, Inc. Free in-person consultations are also available in our Salt Lake City
Contact us for your FREE consultation today!
Raymond L. Warner
Certified Public Accountant
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