As ruthless as the IRS can be, even they understand that life happens. That’s why there are so many tax relief programs available when a person cannot afford to pay. If you currently have a tax debt with the IRS, chances are you have already heard about the most sought after tax relief programs the IRS has to offer; namely, Offer in Compromise. This tax relief program is an agreement between you and the IRS that allows you to settle your tax liability for less than the amount owed. This is usually a good option for taxpayers who cannot afford to fully pay off their tax debts. This means that the IRS cannot collect more than you can reasonably pay. If aggressive collection action by the IRS forces you into a financial crisis, this partial debt forgiveness program can be utilized to prove your inability to pay and to settle your debt.
Although the Offer in Compromise program is widely popular—as you may have seen on television commercials—the eligibility requirements are rigid, and most offers that are accepted by the IRS are usually handled by an experienced Tax Resolution Specialist.
At ProTax Consulting Services, we begin our Offer in Compromise application by conducting an in-depth financial interview, as well as preparing a thorough financial report analysis and a compliance check of the taxpayer. This helps maximize the likelihood our offer will go through, and minimize any pushback or denials by the Offer Specialist. This ensures that no effort is wasted.
At ProTax Consulting Services, we know how to present an Offer in Compromise that has the best chance of being accepted. Equally important, we know how to best challenge the IRS when they recommend or attempt to reject an offer. Aggressive Offer Specialists use their discretion by applying their own formula to determine the outcome of an offer. Our ProTax Consulting Services team is recognized for making convincing arguments using not only our number-crunching skills, but also our negotiation skills; resulting in most of our offers are accepted without change. Although there are several legitimate reasons why the IRS may not accept an offer, at Protax Consulting Services, we screen our clients as best as possible before presenting our offer to minimize any unfavorable outcome.