Offer in Compromise

 
 

You may be eligible for an Offer in Compromise if you can't pay the amount you owe in full or through installments. By requesting an Offer in Compromise, you are asking to settle unpaid taxes for less than the full amount you owe.  Your offer may be accepted if:

  • The IRS agree that you tax debt may not be accurate.
  • You have insufficient assets and income to pay the amount due, or
  • Because of your exceptional circumstances, paying the amount due would cause an economic hardship or would be unjust.

For an Offer in Compromise to be considered, you must pay an application fee and make an initial or periodic payment. However, low income taxpayers may qualify for a waiver of the application fee and initial or periodic payment.

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).

Often it is possible to fully and completely eliminate 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."

 

 

 

Get in Touch With Us.

Call us at 407-922-8899 with any questions or to schedule an appointment.

 

RR Accounting & Tax Services

2824 Michigan Ave., Suite A

Kissimmee, FL 34744

 

Or you may use our contact form.

 

Office Hours

You can reach us during the following business hours:

 

Monday to Friday 9 am to 6 pm Saturday by appointment only

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