Offer in Compromise

Are you faced with IRS liens, levies or seizures and need help looking for an alternative plan? A Fort Worth offer in compromise might provide the relief you seek. An offer in compromise is an IRS program in which the IRS settles your tax debt for less than you originally owed. In an offer in compromise the IRS is willing to accept a partial payment instead of the full amount they believe you owe them. Obviously the IRS does not generally speaking want to accept less than what they think is owed to them, so not everyone can quality for an offer in compromise.

Although it is not easy to qualify for an offer in compromise, it is possible under certain circumstances to take advantage of this IRS program. And if you do qualify for an offer in compromise it can be extremely helpful in aiding you with moving forward in life. There are three major reasons the IRS will consider an offer in compromise:

  • Doubt as to collectibility: This is a situation where the IRS has reason to believe they cannot collect the full debt amount from you even over time. Doubt as to collectibility is based on a complicated formula the IRS has created that takes into consideration assets, future earnings, cost of living and more. If you are interested in exploring if you could possibly qualify under this path, talk to your CPA. As with any IRS negotiation it is extremely helpful to have a professional aid you in the process so you are fairly represented.
  • Doubt as to liability: This is a fairly rare occurrence, but if the IRS has reason to believe you are not actually liable for the debts they claimed you owe they will offer partial pardon. If you believe you might quality for doubt as to liability please give us a call today. We will help you determine if this is a path you can take.
  • Extenuating Circumstances: If it is determined that your circumstances would dictate extreme economic hardship the IRS may consider alleviating your debt. This is often the case in situations for the elderly, disabled or other who cannot fairly be asked to pay the amount that is claimed due.

Facing the IRS alone is overwhelming and often confusing. If you are uncertain of what options are available to you in contesting the debt the IRS claims you owe, please talk to a professional today. Having a CPA you can trust assist you through the process is extremely helpful. You deserve to have fair representation throughout your IRS negotiation.

If you are considering a Fort Worth offer in compromise let our experience aid you through the process of IRS negotiation. Call Don R. Walker today for a free consultation.