What's An "Offer In Compromise"?


        There are many situations in which a Taxpayer can wind up with a Federal Tax debt. In some cases, they are not able to pay it. For those in this position, there is an option called Offer In Compromise. Very few will actually qualify for it, but for those who do, it can be a great source of relief.
          This is NOT a payment plan. The Offer In Compromise is very unique in that it will allow for the settlement of a tax debt for less than the actual amount. There are a variety of options that the IRS offers Taxpayers to help them in paying any taxes owed and a qualified Tax Professional can guide you through these decisions and what would be required. Here’s a video that gives more detail on an Offer In Compromise: https://youtu.be/imMIMk5mIa8

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