Negotiating an Offer in Compromise with the IRS

  • If you’re behind on your taxes, you are probably wondering whether there are any options for becoming square with the IRS—aside from paying the full amount owed in one lump sum. There are definitely ways to pay off your tax debt other than the obvious and difficult pay-it-all-at-once method.

    First, there’s the installment agreement, which allows you to make monthly payments on your taxes. There’s also an option that allows you to have some or all of the penalties removed—if you qualify and your lawyer is able to negotiate that possibility. Finally, there is the settlement option, which is referred to as an offer in compromise.

     

    How Can I Negotiate an Offer in Compromise?

    To get the IRS to agree to an offer in compromise, your lawyer will first have to see whether you’re eligible for that option.

    Typically, your IRS lawyer will have to show that a settlement is a good option for the government to accept by proving that this settlement is likely going to be the best-case scenario for receiving back taxes from you.

    The following will be examined thoroughly to determine your eligibility:

    • Your income
    • Your debts, assets, and property
    • Your personal situation
    • Whether you are in bankruptcy

    If you do qualify for this program, your attorney will communicate with the IRS to see if they will accept your settlement offer.

     

    Do You Need a Tax Attorney?

    If you think you may be eligible to settle your tax debt through an offer in compromise, talk to a tax lawyer today. Your attorney will analyze your personal tax situation and reach out to the IRS to begin the process of offer-in-compromise negotiations.

    To reach W Tax Group and schedule a free analysis of your tax debt, call 1-877-500-4930 or visit our website.