Taxation-Related Services: Offer in Compromise
Offer in Compromise
Did you know that you can settle your debt with the IRS for just pennies on the dollar? Their Offer in Compromise program allows taxpayers to settle with the IRS on tax debt. 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. If done correctly your debt may be settled for only 5-15% of what you presently owe.
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