WHO QUALIFIES FOR AN OFFER IN COMPROMISE?

 

If you are able to prove that you are unable to pay the complete amount that you owe the IRS within the timeframe that the IRS has to collect it, you might be eligible to pursue an offer in compromise. First, you will have to fill out the IRS pre-qualification questionnaire and gather basic information about your living situation, how much you owe to the IRS, and what assets you have available.

Here are some indications that an offer in compromise might be for you:

  • There is no way for you to pay the full amount that you owe.

  • Your income does not cover your monthly expenses.

  • You don't have much equity in your assets.

  • You are up to date with all your tax filings.

  • You are up to date with all debt owed to the IRS.

  • You are not in the middle of a bankruptcy.

  • You can meet the requirements outlined in an offer if it is accepted.

  • You and your family would meet with substantial hardship if you paid the debt in full.

  • Your offered amount is an accurate representation of what the IRS can reasonably expect from you.

CALL FOR PROMPT RESPONSES & TAX ADVICE TAILORED FOR YOU

Contact Us

Thanks for submitting!

To find out if an offer in compromise might be a good solution for you, get in touch with our experienced Oklahoma tax lawyers. We are known for our thorough and comprehensive customer service. You can expect prompt responses and updates throughout every step of your case.

Don't wait to get started on your case. Contact us today.