Offer in Compromise: A Pathway to Tax Debt Relief
Navigating the complexities of tax debt can be daunting, but an Offer in Compromise (OIC) provides a viable solution for many taxpayers struggling to meet their obligations. At Tax Relief Advisers, we specialize in guiding individuals and businesses through the OIC process, offering expert assistance to help you achieve financial relief.
What is an Offer in Compromise?
An Offer in Compromise is a program offered by the IRS that allows eligible taxpayers to settle their tax debt for less than the full amount owed. This option is particularly beneficial for those who cannot pay their full tax liability or would experience significant financial hardship if required to do so. The IRS evaluates each case based on a comprehensive assessment of the taxpayer’s ability to pay, income, expenses, and asset equity.
Eligibility Criteria for Offer in Compromise
To qualify for an OIC, taxpayers must meet specific requirements:
- Tax Filings: All required tax returns must be filed.
- Estimated Payments: All necessary estimated tax payments for the current year must be made.
- Bankruptcy Status: Applicants should not be in an open bankruptcy proceeding.
- Valid Extension: If applying for the current tax year, a valid extension request must be filed.
Understanding these criteria is crucial before submitting an application, as failing to meet them can result in rejection or return of the application.
Why Choose Tax Relief Advisers?
Navigating the OIC process can be complex and time-consuming. At Tax Relief Advisers, our experienced professionals are dedicated to providing personalized guidance tailored to your unique financial situation. We help you prepare a compelling case by ensuring all documentation is accurate and complete, maximizing your chances of acceptance.
Visit our About Us page to learn more.
Our main office is located in Missoula, MT. We serve the entire US and have clients in 42 states.
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Free IRS Settlement Consultation
Owed $179,026
Settled for $400
Gerald J.
Owed $14,803
Settled for $900
David B.
Owed $159,525
Settled for $1,100
Mike M.
Owed $458,800
Settled for $6,697
Roderick B.
Owed $59,680
Settled $100
Mark J.
Owed $20,557
Settled for $4,214
Antoine W.
What We Guarantee
- STOP Harassment.
- Remove wage garnishments or bank levy’s.
- Conduct a complete financial review.
- Prepare, or amend tax returns as needed.
- Provide the best resolution available.
- Help you save taxes in the future.
- Tax debt relief.
- Return calls and messages promptly.
- Offer in Compromise
- Wage Garnishment and Levy Release
- Bank Levy Release
- Fresh Start Program
- Non-collectible status
- Installment Agreement
- Innocent Spouse Relief (Don’t pay for spouse’s mistakes)
- Injured Spouse Relief
- Lien Release
- Effective Tax Administration “ETA” (Special circumstances)