Offer in compromise

It makes sense on the surface:  You are unemployed, owe the IRS money, and are considering an offer in compromise to settle your tax debt. Before you jump in, it is important to know that being unemployed is not always enough for success in an OIC. You are correct that the starting point is that […]

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If you money to the IRS, you have taxpayer rights. Your rights are in the the Internal Revenue Code, which has laws that limit the power of the IRS collection division to collect, levy and destroy. An IRS collection agent cannot always do what he wants, when he wants. These laws protect you from the collection […]

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An offer in compromise is certainly appealing – forgiveness of your tax debt, tax liens released, freedom to use bank accounts and earn wages – all without looking over your shoulder for the IRS. But an offer in compromise is not a quick fix. This is about what they don’t tell you on those it-sounds-too-good-to-be […]

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If you have a tax dispute with the IRS, expect negotiations to be different than what you may be accustomed to. In most negotiations, both sides have something at stake, something to gain and lose. In other words, an element of risk. That dynamic can change when you have to step up to the plate […]

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You have tried and failed at settling your tax debt with the IRS – your offer in compromise was rejected – and are now considering bankruptcy for relief from the taxman. But before you jump in with the bankruptcy filing, it is important to understand how your offer in compromise could have complicated success with […]

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The average amount the IRS settles for in an offer in compromise is $6,629.  Sounds good, doesn’t it? If only it was that easy – everyone would be doing it, right? The reality is that in 2014, the IRS received 68,000 offers in compromise from taxpayers. The IRS accepted 27,000 of those offers. That’s an […]

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