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This program was developed by Congress to help collect large amounts of outstanding tax in a relatively short period of time. Their assumption was to offer taxpayers a one-time opportunity to eliminate their debt for a fraction of what was originally owed, thus closing millions of costly collection cases. While the program has been and continues to be modified, it remains the most effective means for both taxpayer and IRS to bring permanent resolution. An offer in compromise is an agreement between a taxpayer and the IRS that resolves the taxpayer's tax debt. The IRS has the authority to settle, or "compromise," federal tax liabilities by accepting less than full payment under certain circumstances. A tax debt can be legally compromised for one of the following reasons:
Qualifying for this program should be relatively straightforward: when there is a financial hardship and the amount owed exceeds one’s ability to realistically pay off the debt in five years, the IRS is willing to settle for literally “pennies on the dollar.” On average, the qualified taxpayer saves thousands of dollars, and the IRS, in turn, ends their costly collection process and gets a compliant taxpayer. Because of the popularity of the program, however, millions of frivolous cases were submitted, bottlenecking the process. Now, each case is scrutinized and examined to the dollar. Any small miscalculation and the amount offered will skyrocket, or, even worse, be rejected altogether. Thankfully, our staff of professionals has years of experience and know the intricacies of the program. Because we use the same formulas and guidelines as the IRS, we are able to assess the lowest possible amount the IRS will accept before it is submitted, thus eliminating the guesswork and worry. When you call, your assigned tax strategist will walk you through the procedure, answering any questions and providing a free, accurate assessment of your case. Simply fill out the below request form and check "IRS Representation" and one of our knowledgable staff will give you a call shortly.
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