An Offer in Compromise is an agreement between a taxpayer and the IRS that resolves the taxpayer's liability. Congress requires the IRS to settle or compromise federal tax liabilities by accepting less than full payment if certain conditions are met. The compromise process is available to provide taxpayers with a fresh start toward future compliance with tax laws. Submitting an Offer in Compromise is a formal and complicated process. You cannot simply call the IRS and offer a certain amount of money. In-depth financial disclosures through a formal process must be made to the IRS. Our tax relief team goes through these disclosures one-on-one with clients, in order to get them ready for IRS review. The final decision as to whether an Offer in Compromise is accepted rests with the IRS but, if accepted, the tax debt for the years the offer is submitted is effectively settled. Our attorney keeps very current with such tax laws, and can offer great tax relief and advice when working on an Offer in Compromise.
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