Offer in Compromise Planning
An Offer in Compromise is a process whereby the taxpayer offers the IRS a reduced sum of money in order to compromise a delinquent tax bill. Our tax lawyers get involved at every stage of the IRS Offer in Compromise Process. Our tax lawyers believe that the earlier we get involved in the Offer in Compromise process, the higher the likelihood of getting the Offer in Compromise accepted by the IRS.
Our tax lawyers often caution clients that contrary to popular belief, an IRS Offer is Compromise is not an amnesty program, nor is it motivated by the IRS' desire to cut delinquent taxpayers a break. Rather, it is a calculated business decision by the IRS to accept a smaller sum in lieu of spending the collection resources on chasing the taxpayer until the statute of limitation on collecting the tax runs out.
With the passage of the IRS Restructuring and Reform Act of 1998, hundreds of thousands of taxpayers are rushing to settle their back taxes with the IRS through the Offer in Compromise Process. Unfortunately, the Offer in Compromise process, or "pennies on the dollar", as it is often referred to is not as simple as it sounds. In fact many unsuspecting taxpayers often find the process to be extremely difficult and tedious to navigate without professional help.
Our tax lawyers have extensive expertise with planning, preparing, and negotiating successful IRS Offers in Compromise. Since 1997 our tax lawyers have saved millions of dollars for our clients through the Offer in Compromise program.
Our tax lawyers get their edge by knowing and carefully navigating virtually every key regulation of the IRS Offer in Compromise program. Our tax lawyers also have good working relationships with many of the IRS Offer in Compromise agents.