| Pennies on the Dollar: If you've got an IRS debt and | | | | incorrect. |
| you're looking to settle, chances are you've seen the | | | | The Statistics: The IRS rejects over 83% of Offer in |
| commercials on television that claim they can settle | | | | Compromise cases. The reason is because these |
| your debt for "pennies on the dollar." They claim that | | | | Offer Mill companies all over the country are submitting |
| you can compromise with the IRS and settle your debt | | | | bogus cases. A good tax resolution company will |
| for much less than you owe. While the IRS does offer | | | | review all the financial specifics of the case, and will |
| this program, it is not nearly as easy as the | | | | make sure you can actually qualify. A good tax |
| commercials say. Read on to learn the truth about the | | | | resolution company won't submit your paperwork |
| Offer in Compromise Program. | | | | unless they truly believe your case will be accepted. |
| Do you Qualify? Most companies will tell you that you | | | | The Program: There are several other things these |
| qualify before even reviewing your case. The Offer in | | | | "Pennies on the Dollar" companies won't tell you about |
| Compromise (OIC) Program is very simple, you either | | | | the OIC program. For instance, depending on what the |
| qualify or you don't. But there are specific financial | | | | compromise is, the IRS may require a percentage lump |
| variables involved. Anyone that tells you that you | | | | sum payment up front. Also, the IRS requires anyone in |
| qualify for an OIC before reviewing your finances is | | | | this program to agree to a 5 year agreement in which |
| only interested in your money. Make sure you speak | | | | they must pay anything they owe, on time, for five |
| with someone who looks into the specifics of the case | | | | years. If they default in that agreement the Offer is |
| before making a decision like that. | | | | Rejected and the original debt is re-instated? |
| The Paperwork: Another thing these companies do is | | | | Is it Worth It? Absolutely. If you work with a reliable tax |
| take your case knowing that it will be rejected, and | | | | resolution company, you can rest assured that the |
| submit the paperwork anyway. This is a terrible trick | | | | Offer Program is the best program the IRS has to |
| because even if it's rejected, they've "done their job" | | | | offer. The trick is knowing whether or not you qualify. |
| by submitting the paperwork. The truth is; half of these | | | | So don't let someone tell you that you qualify, find out |
| Offer Mill companies don't even complete the | | | | for yourself. And when you're ready to resolve the |
| paperwork they submit. So even if you had the | | | | debt, get on the phone with an experienced and |
| chance of qualifying, the IRS will reject the case | | | | knowledgeable tax professional. |
| because the paperwork is either incomplete or | | | | Now you have the Smoking Gun...Use It! |