IRS Offer in Compromise

IRS Offer in CompromiseIf you are current in all your filings and payment requirements with the Internal Revenue Service (IRS), but still need additional time in order to fully satisfy the amount of tax debt that you owe, you may be eligible for an IRS Offer In Compromise. This is a compromise settlement which enables you to settle your tax debt for an amount which is less than the full amount that you are actually liable for. Thanks to the Offer In Compromise program, some Americans have settled their IRS back taxes for less than 5% of what they owed!

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An offer in compromise may be a legitimate option for you to adopt, but only if you have exhausted all other means of making payments. If you have done so, and find that you still cannot pay the full amount that you owe, or if doing so will lead to a crippling financial hardship, then the IRS will consider your request for an offer in compromise.

To qualify for such an offer, you must meet the meet the general requirements that the IRS imposes in such cases. The IRS must be satisfied that the amount you offer represents the absolute most that they can ever expect to receive from you. You must not attempt to hide any of your income or assets. If the IRS determines that your offer is legitimate, they will most likely agree to work on a compromise offer with you.

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