Offer In Compromise
OFFER IN COMPROMISE
Offer in Compromise (OIC) can be a life-saving form of tax resolution for those who truly need it. It allows client to settle tax debt for less than the full amount owed. It may be a legitimate option, if you cannot pay the full tax liability, or doing so creates a financial hardship. On average people who settle their debt using an Offer-in-Compromise end up paying less than 20% of the actual amount they owed to the IRS or state.
Sometimes your financial situation may make it nearly impossible for you to pay off all your tax debt, even when utilizing tax resolution over the long term via an installment plan. In such situations the IRS or state may be willing to accept an “Offer-in-Compromise” and significantly lower your tax bill.
Regardless of the reason, to be eligible for an Offer in Compromise the taxpayer must demonstrate that collection of the tax would create an economic hardship or would be unfair and inequitable.
For the best chances in successfully negotiating an offer in compromise, you’ll want a professional on your side. DMG Tax Relief will use our resources first verify that you qualify for an OIC, then develop the plan of action to file an OIC with the IRS or state and handle process for you. DMG Tax Relief talks to the IRS or state so you do not have to.