Offer in Compromise

Offer in Compromise

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    Offer in Compromise

    Using Tax Network USA to file your Offer in Compromise (OIC) will significantly increase your chances of getting the settlement approved. Our licensed Enrolled Agents, CPA’s and Tax Attorneys will analyze your situation to determine the best approach in settling your back taxes through an Offer in Compromise.

    Offer in Compromise (OIC)

    An offer in compromise (OIC) is when the IRS or State accepts less than the full amount the taxpayer owes. You can pay a lump sum over five months OR make monthly payments over a period of 24 months. The IRS will take a reduced amount and in return, you promise to file and pay your taxes on time for the next five years. For best results, it is suggested that you have an Enrolled Agent or Tax Attorney negotiate what you are legally required to pay towards the settlement.

    Get Immediate Help With:

    • IRS Offer in Compromise Representation
    • State Tax Offer in Compromise Representation
    • Lengthy Tax Forms
    • Financial Analysis and Accuracy Review
    • Statement of Circumstances
    • Steps, Procedures and Regulations
    • Offer in Compromise Hearings and Appearances
    • Offer in Compromise Appeals

    Get Expert Help with IRS or State Offer in Compromise

    In one phone call, you can get all your offer in compromise questions answered by a licensed tax professional:

    • “How log will the process take?”
    • “How much will I have to pay once my offer in compromise is resolved?”
    • “What type of expert is best for my offer in compromise case?”
    • “Should I wait to file an Offer in Compromise once I can afford it?”

    Don’t make ANY major decisions until you get every offer in compromise question answered during your Free No Obligation Consultation.

     

    Frequently Asked Questions

    Can I Make Payments on The Offer in Compromise?

    Yes, the IRS allows two options for the Offer in Compromise program.

    First is the “lump sum payment” Offer in Compromise, which will allow the taxpayer to pay no more than five payments over 24 months on the settled amount.

    Second is the “Periodic Payment” Offer in Compromise, which will allow 24 payments over 24 months on the settled amount.

    Can My Offer in Compromise Be Revoked?

    Yes. The IRS can default your Offer in Compromise if you fail to pay the agreed settled amount. You will also be required to file and pay on time for a specific amount of time after the offer is accepted.

    If an offer defaults, the IRS may levy or file suit to collect the entire balance of the offer or an amount equal to the original tax debt less any payment(s) received under the terms of the offer. All penalties and interest will be reinstated. Liens and levies may be placed on the account.

    Will I Need to File Missing Tax Returns Before I Submit the Offer in Compromise?

    Yes, the IRS will require you to have all your missing tax returns filed before submitting the offer in compromise.

    Tax Network USA also specializes in Tax Preparation and can help you become fully compliant with all your tax filings.

    What If My Offer in Compromise Isn’t Accepted?

    If your Offer of Compromise is not accepted, we can either appeal the decision or ask
    request an alternative settlement. There are several programs that offer significant
    savings.

    Tax Network USA’s enrolled agents and tax attorneys will review your case thoroughly
    to ensure that your case is presented properly.

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