| An Offer-In-Compromise (OIC) is when you negotiate | | | | excellent documentation in order to prove that you just |
| a back tax settlement with the Internal Revenue | | | | don't have enough money. Remember, any assets you |
| Service that allows you to pay a portion of your total | | | | have may be considered for sale in order to satisfy |
| debt, instead of the complete amount in full. This is also | | | | your IRS debt. |
| sometimes referred to as an IRS settlement. Such a | | | | If you legitimately think that the tax liability is not yours |
| settlement, successfully achieved, can save you | | | | because the tax examiner made a mistake, the tax |
| thousands of dollars on your IRS debt and stop the | | | | examiner failed to consider your evidence, or you |
| threat of a property levy or wage garnishment against | | | | have new evidence, you might qualify for an OIC. |
| you. | | | | Keep in mind that these are very technical nuances, |
| An Offer-In-Compromise can get the Internal Revenue | | | | that you have the burden of proving to the IRS. |
| Service off your back and start you on the road to | | | | At this point, you should consult a tax resolution firm. |
| recovery from your IRS dispute. | | | | These companies are made up of CPAs, tax |
| An OIC is not easy to get. It will be your burden to | | | | attorneys, and former IRS agents who will negotiate |
| prone to the Internal Revenue Service that your | | | | with the Internal Revenue Service on your behalf. A |
| financial situation is such that you cannot possibly pay | | | | tax resolution firm has a better chance of helping you |
| all you owe. | | | | reach an Offer-In-Compromise with the IRS than any |
| There are, however, some key elements that the | | | | one individual. The members of your tax resolution |
| Internal Revenue Service considers when determining | | | | team have years of experience in dealing with the IRS |
| if you should be approved for an OIC. | | | | on behalf of taxpayers. They have the best chance of |
| If you are certain that you cannot pay all the money | | | | presenting a clear-cut case as to why you should |
| you owe the Internal Revenue Service, you might | | | | qualify for an Offer-In-Compromise with the Internal |
| qualify. They will want to know everything about your | | | | Revenue Service. |
| financial situation to support your claim. You will need | | | | |