Achieve Tax Resolution with an Offer in Compromise

Did you know that you can settle your debt with the IRS for just small amount on the dollar with their Offer in Compromise program? The program allows taxpayers to settle with the IRS on tax debt that has been not correctly assessed or for liabilities they cannot afford to pay. . It's a program for taxpayers who owe the ‏IRS more money than they can afford to pay.

It’s the IRS’s version of a "fresh start" when it comes to  back tax debt. If approved, the IRS accept a lesser amount sometimes a fraction of what’s owed to settle your debt. Therefore, it is not always easy to gain approval due to its strict criteria. Your odds for acceptance increase significantly when you have experience negotiating with the Internal Revenue Service.

The IRS considers your income, assets, expenses, ability to pay, & whether paying the full amount would cause financial hardship.

For more Information You Need to Submit an Application for an Offer in Compromise..

It's important to remember that the IRS wants its money and will only accept an offer in compromise if it thinks it wouldn't receive any money otherwise Often it is possible to fully & completely eliminate the taxes you owe - including all penalties & interest - at an enormous discount. There is no set limit that the IRS will accept to settle your debt especially if your offer is done "right.. You must be current with all filing and payment requirements to apply. .

You can find more information about the IRS Offer in Compromise on the IRS website here.  If you want help with your all tax problem, contact us today for a consultation. [https://www.makemytaxes.com]

After supplying the IRS with your name, address, social security number, & the amount of tax debt you would like it to consider for this program you need to supply detail about your income, assets, & expenses. , your personal income can include:

Business profit
Rental income
Child support or alimony
Interest on investments
Your assets can include things such as:

Stocks and bonds
Resale value of your personal vehicles
Market value of your home
Balance of your retirement savings accounts
Balance of bank accounts, including checking, savings, & investments
 These may include:

Rent or mortgage
Child support or alimony
State and federal taxes
Daycare costs
Costs to maintain a vehicle
Auto, health, & life insurance
 In dealing with the IRS. Your CPA or tax advisor most likely doesn’t have experience with resolving back tax issues. Therefore we recommend working with a specialized tax resolution professional like us to better understand this option and increase your chances of approval

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