Don't be afraid to face your IRS debt head-on. With the new laws adopted by the IRS, taxpayers making offers to settle their debt for less than they owe are being accepted at a higher rate than in past years.
As described in a recent article by the Internal Revenue Service, an offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can't pay your full tax liability, or doing so creates a financial hardship. We consider your unique set of facts and circumstances:
Ready to move on to sunny days without a cloud in the sky? A qualified tax preparer can assist you in determining your eligibility, help you file your offer, talk with you about payment options and will be with you through the acceptance or denial phase. If this post describes your situation, feel free to contact us for assistance.
As described in a recent article by the Internal Revenue Service, an offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can't pay your full tax liability, or doing so creates a financial hardship. We consider your unique set of facts and circumstances:
- Ability to pay;
- Income;
- Expenses; and
- Asset equity.
Ready to move on to sunny days without a cloud in the sky? A qualified tax preparer can assist you in determining your eligibility, help you file your offer, talk with you about payment options and will be with you through the acceptance or denial phase. If this post describes your situation, feel free to contact us for assistance.