The offer in compromise is one of the most coveted tax settlements, because it represents partial tax debt reduction—or even complete IRS debt forgiveness. Are you leaping at the chance to settle your unpaid taxes for far less than you actually owe? First, you’ll need to determine your eligibility. The IRS does not give away offers in compromise lightly. The government will need absolute assurance that you can’t pay what you owe either as a lump sum or via an installment payment plan. Additionally, your tax paperwork must be up to date, and you cannot be engaged in bankruptcy proceedings. If you meet these qualifications, you can start taking steps toward negotiating an offer in compromise.
You’ll stand your best chance of obtaining this tax settlement with experienced tax resolution specialists on your side of the bargaining table. In and around Orlando, you can count on the pros at Price Advantage Accounting We have more than 40 years in tax resolution under our belts, and we’re committed to finding the best possible path forward for each and every client. If an offer in compromise is your best solution, we’ll work tirelessly to make it happen.
For more on the tax settlements available to you, and to book your appointment with a member of our team, call now.