Frequently Asked Questions About Offers In Compromise

What is an IRS offer in compromise?

An offer in compromise is an agreement between a taxpayer and the IRS to settle the taxpayer's tax liabilities for less than the full amount owed.

'How much may my tax debt owed be reduced by if my offer in compromise is accepted?'

Beware of advertisers that claim tax debts can be settled through the offer in compromise program for "pennies on the dollar." However, it is quite possible that qualifying for an offer in compromise settlement can save you thousands of dollars in taxes, penalties and interest.

'What are the nuts and bolts of an offer in compromise, and how can I find out what I need to know?'

The IRS offer in compromise program is complex and time-consuming. Our firm has the expertise and experience working with the IRS to help expedite and take the stress out of the process.

In what cases does the IRS reject offer in compromise proposals?

Absent special circumstances, an offer will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement.

How long will the offer in compromise solution take to reach completion?

The offer in compromise program is complex and time-consuming, sometimes taking as much as two years to complete.

Reduce Your IRS Debt With An Offer In Compromise — Contact Us

Allen Schuldenfrei has the expertise and experience working with the IRS to help expedite and take the stress out of the process. Contact us today for a free consultation on how we can reduce your IRS debt with an offer in compromise.