Offer-In-Compromise, Not for the Short Term

         Some might think that if they have hit hard times, or if they have an unexpected tax debt, that this will make them an Offer-In-Compromise candidate. This is very unlikely. From the point of view of the IRS, most people will eventually get a new job. At that point, their income will increase, and they will be able to pay their tax debt. This is the same reason why active businesses are rarely granted Offer-In-Compromise status.

          If a business is open, the owner expects to make a profit. With that future profit, tax debt can be paid. If the issue deals with payroll taxes, the resolution becomes even clearer. Those who are considered “responsible parties”, such as owners or financial officers, can be held personally responsible for that tax. Even if you can qualify, the work has only just begun. 

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