McGuire, Todd & Associates can help you get an IRS Offer in Compromise. Affordable Rates!
What is the IRS Offer in Compromise program?
The Offer in Compromise is a tax debt settlement between you and the IRS. It is a program established by the Internal Revenue Service that allows you to prepare and submit an offer to the Internal Revenue Service in which you would pay a lesser amount than the tax debt that is currently owed to satisfy (i.e. settle) the tax debt. Tax question?How do I qualify or be a candidate?
In order to qualify or be a candidate for an Offer in Compromise, you must meet certain conditions. Offer in Compromises are considered by the Internal Revenue Service on a case by case basis, and each offer in compromise submitted to the Internal Revenue Service is reviewed based on your current financial circumstances. Tax question?How long does it take to set up?
The Offer in Compromise process can be quite lengthy. Our experience has been that the Offer in Compromise process can last anywhere from four months to a year or longer once the Offer in Compromise has been submitted to the Internal Revenue Service. Tax question?How does it protect me?
Once submitted, the Offer in Compromise will act as a hold on any further enforcement action (e.g. levies & garnishments) from the Internal Revenue Service until a determination is reached. Moreover, if the Offer in Compromise is accepted, the hold on enforcement continues as long as you continue to comply with the terms of the Offer in Compromise Program. Tax question?Do I still pay interest on my tax debt?
No, this is another major benefit to the Offer in Compromise is that once an amount is agreed up through the Offer in Compromise program, you will only pay that amount. Interest does not accrue on the figure that has been agreed upon between you and the IRS. Tax question?<< Back to Home Page
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