The IRS Code states: "We will accept an Offer in Compromise when it is unlikely that we can collect the full amount owed and the amount you offer reasonably reflects the collection potential..." (Internal Revenue Code section 7122).
Sometimes it is possible to fully and completely eliminate the taxes you owe - including all penalties and interest - at an enormous discount. There is no preset bottom limit that the IRS will accept to settle your debt especially if your offer is done "right".
If accepted, your debt may be settled for only 5-15% of what you presently owe. The key is to determine the least amount that the IRS will accept from you before you make the offer.
Be warned: IRS only accepts a small minority of such offers. If you have the ability to earn an income, you have the ability to pay. That's the IRS position, despite what those late night TV ads say.
We'll help you prepare an offer only if it makes sense to do so. No guarantees here...just an honest assessment of what life is REALLY like. We have made a big investment in software tools that allow us to do this, so we'll come up with the best solution possible for you.
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