Offer in Compromise
Not everyone qualifies for an Offer In Compromise,
but everyone should find out if they do.
First, contact STC OIC Tax Team to find out if it will be in your best interest to file an Offer In Compromise, we will carefully review your tax and financial information, then discuss your options with you based upon the know facts. You will not be told if you qualify if the facts clearly indicate that filing an OIC would be a waste of your time and money.
Second, if you qualify for an Offer-in-Compromise, your STC OIC Tax Team will work to settle your tax debt for less than what is owed – it is often a Dramatic Reduction of tax liability! Our experts will prepare all the forms and represent you throughout this complex process of filings and negotiations with the IRS or State.
Contact us to find out if you qualify for an Offer In Compromise at 206-633-6089 or complete the Contact form.
What is an Offer In Compromise?
An Offer In Compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the full amount owed.
The IRS and many States may accept an offer in compromise based on three standards.
1. Doubt as to Collectability: Doubt exists that you could ever pay the full amount of tax liability owed within the remainder of the statutory period for collection.
2. Doubt as to Liability: Facts exists that the assessed tax liability by the IRS is not correct. Possible reasons to submit a doubt as to liability offer include: IRS examiner made a mistake interpreting the law, IRS failed to consider your taxpayer’s evidence or you have new evidence.
3. Effective Tax Administration: The facts are clear that the tax is correct and IRS could collect the full amount of the tax owed, but an exceptional circumstance exists that would allow the IRS to consider accepting your OIC. To be eligible for this type of compromise, you would need to prove that the collection of the tax would create an economic hardship or would be unfair and inequitable.
Our rates are based on the size and complexity of the case. No large retainers, our pay as you go and we complete work system protects and benefits both you and our firm.
Here are some recent Offer-in-Compromise acceptance letters from the IRS regarding a few of our clients. (will send via PDF)
FAQ.
What do you charge to file an OIC?
Our rates are based on the type and complexity of the case. It has nothing to do with how much you owe. We don’t charge large retainers, our pay as you go and we work system insures that work is completed for you and insures we get paid for work. It’s a win win for all parties.
Can any firm guarantee the acceptance of an OIC?
Just like a filing of a Penalty Abatement, no firm can legally or ethically guarantee the outcome. The firms who are making these claims have the guarantees shrouded in tricky legal ease so the end result is no guarantee at all. You should only proceed once you understand the risks, rewards, and reasoning on why you have an opportunity.
Can I file my own OIC?
In some cases a client should consider it? We run into cases every day where we tell clients that they would be better off handling it themselves. We are not afraid to tell someone the truth.
What happens if my OIC gets rejected?
You can appeal if the IRS has not interpreted your OIC correctly or your circumstances have changed. The appeal may be covered if it is within the timeline of OIC fee payments.
Why did your firm tell me I don’t qualify?
“Another firm I called said they could and they have a special deal with the IRS?”
We find that 20 to 30% of Clients have the facts to support filing an OIC, these boiler room tax firms tell Clients “What the Client wants to hear” in order to get business, this is unethical and is illegal.
Can I simply offer the IRS or State a percentage of what I owe?
No, this myth has been exploited by those firms who advertise on TV and Radio and sometimes a misinformed friend or relative. The process isn’t a game; it requires serious work and evaluation of assets, income, and expenses to determine first if a client should file an OIC and determine the amount to offer.
At no cost or obligation to you, receive a FREE and CONFIDENTIAL CONSULTATION by calling us at 206-633-6089 You can also fill out an email form by clicking here but we suggest you take the quickest path towards your solution by calling. Take advantage of the 1-on-1 level of support that only a phone call can offer.
It's your first step to putting your tax problems behind you. Don't let worries of dealing with the IRS or State you into taking no action at all ... Get Help Now!