Tax Settlement Through Offer In Compromise Preparation

Did you know that you may be able to settle your debt with the IRS with favorable terms through the agency's offer in compromise program? The program allows taxpayers to settle with the IRS on tax debt that has been incorrectly assessed or for liabilities they cannot afford to pay.

Learn more about the IRS offer in compromise option through our frequently asked questions page on this topic.

The IRS Code states: "We will accept an offer in compromise when it is unlikely that we can collect the full amount owed and the amount you offer reasonably reflects the collection potential ..." (Internal Revenue Code Section 7122).

In many cases, it is possible to settle the taxes you owe — including all penalties and interest — at an enormous discount. There is no preset bottom limit that the IRS will accept to settle your debt, especially if your offer is done right.

If your offer in compromise proposal is prepared skillfully, your debt may be settled for as little as 5 to 15 percent of what you presently owe. The key is to determine the least amount that the IRS will accept from you before you make the offer.

Get Experienced Legal Help

I am attorney Allen Schuldenfrei, a CPA, tax attorney and tax law educator. I am well-qualified to ensure that your offer in compromise is as effective and promising as it can be. Please contact my law offices at 410-358-7435 or through the online form for help with your tax debt relief needs. I handle clients throughout Harford, Howard and Anne Arundel counties.