Offer In Compromise
Have you been audited by the IRS?
Has the IRS or State requested to audit your tax returns?Do you have representation?
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Don't go it alone! Let Tax Attorneys, CPA's and representatives who know and understand the IRS handle your case.
Understanding the audit process is essential to knowing how to reply to the IRS in an audit and how to request an Appeal of your findings.
Every taxpayer's circumstances are different. We get some clients better results than others. Although we cannot guarantee a specific result, we have obtained great results for many people!
Relax. We get the IRS
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- Stop IRS bank levies & property seizures
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back into balance today!
back into balance today!
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Offer In Compromise
The OIC is a detailed investigation by the IRS that should be completely investigated by a competent professional and the client PRIOR to submission. In an OIC investigation, the IRS will review a taxpayers past, present and future financial data. They will look into all assets that is owned and possibly assets that they believe the taxpayer might own (think of the possibilities that exist here!!). They will scrutinize the debtor’s tax returns, finances, income potential, living arrangements, family's finances, and much more.
There are 3 types of Offer In Compromises
- Offer-in-Compromise: Doubt as to Liability
- Offer-in-Compromise: Doubt as to Collectibility
- Offer-in Compromise: Effective Tax Administration
Some little know facts about Offer In Compromise: IRS Settlements
- The OIC is a long 9-12 month process (if everything goes smoothly) that is fully investigated by IRS OIC Units and Field Offices;
- The IRS has 2 years to investigate the OIC and the OIC is deemed accepted if the IRS does not decide on the OIC within 2 years of filing
- The OIC acceptance requires past, present and future filing compliance for 5 years
- The OIC acceptance requires future payment compliance for 5 years
- Offers are open to a redacted public inspection for 1 year
- The OIC investigation is very intrusive
Do not believe that the OIC is always the best option. It is the most publicized options and the one that says "settlement"- a buzz word that screams "free lunch." Remember, there is no such thing as a free lunch AND if it is too good to be true, it usually is not true.
There are many unscrupulous people that will talk people into an OIC. But IT MAY NOT BE THE BEST OPTION!! In fact, there are approximately 20 other options that should be reviewed before taking on the risk of filing for an OIC.
What typical taxpayer knows all the options??? Before proceeding, it would be in the best interest to explore all options through a competent tax professional.
- Offer-in-Compromise: Doubt as to Liability
- Offer-in-Compromise: Doubt as to Collectibility
- Offer-in Compromise: Effective Tax Administration
It is often referred to as a "Settlement"- however, this implies that the outcome is purely subjective. In fact, it is part subjective and part objective based on a financial investigation.
- The OIC is a long 9-12 month process (if everything goes smoothly) that is fully investigated by IRS OIC Units and Field Offices; the IRS has 2 years to investigate the OIC and the OIC is deemed accepted if the IRS does not decide on the OIC within 2 years of filing
- The OIC acceptance requires past, present and future filing compliance for 5 years
- The OIC acceptance requires future payment compliance for 5 years
- Offers are open to a redacted public inspection for 1 year
- The OIC investigation is very intrusive

