An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can't pay your full tax liability, or doing so creates a financial hardship. The IRS considers your unique set of facts and circumstances:
- Ability to pay
- Income
- Expenses
- Asset equity
They generally approve an offer in compromise when the amount offered represents the most they can expect to collect within a reasonable period of time. We can help you prepare and submit the necessary paperwork.
