Do You Qualify For an Offer in Compromise?

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Do You Qualify for an IRS Offer in Compromise?

If you’re burdened by IRS debt, you may not realize that you have options available for tax relief.

An offer in compromise is one of the most common tax forgiveness solutions. Although not everyone who applies for an OIC will qualify, it could represent your best chance at settling your tax debt for less than you owe.

The number of accepted OICs has been rising since the IRS introduced its Fresh Start tax forgiveness initiative. Are you one of the thousands who could be accepted for this tax relief program?

Our Offer in Compromise Calculator will let you know with a few clicks if it seems like you may be eligible for tax debt relief through an OIC.

Before you begin, gather up some necessary information and paperwork. This includes:

Any past-due tax bills
Tax returns from recent years
Audit notices
Notices from the IRS threatening liens, levies, or wage garnishment
Your total income
Your total monthly expenses (business and household/personal)

Don’t let the paperwork mislead you. Our Offer in Compromise Calculator is easy to use and only takes a few minutes. You’ll be asked to answer questions about whether or not you’ve filed your taxes on time, if you are up to date on payroll taxes (if you are an employer), and how much tax debt you owe.

Gathering the paperwork to support your answers will make it easier when you are ready to reach out to a tax attorney or tax debt relief company to file for tax forgiveness.

If you don’t qualify for an offer-in-compromise, you may be eligible for an installment agreement, currently not collectible status, or another form of tax relief.

An Offer in Compromise May Be the Answer to Your IRS Debt

An offer in compromise is one of the most common forms of tax relief available to businesses and individuals with thousands of dollars in tax debt.

Your tax debt won’t go away if you ignore it. Penalties and interest will continue to add up. Unpaid tax debt can lead to levies, tax liens, and even wage garnishment. If your tax debt is seriously delinquent, the IRS can revoke your passport, preventing you from traveling internationally.

Unpaid tax debt can touch every area of your life, affecting your income, your stress levels, and even your health.

Take the first step in finding tax relief. Use our Offer in Compromise calculator below to determine if you may qualify for an OIC. Then, reach out to a reputable tax debt relief firm and begin your journey to freedom from tax debt.