IRS Tax Debt Relief Through an Offer in Compromise
So, you want to settle your IRS tax debt? There are many ways to do this with one of the most common being an offer in compromise.
If you are searching for tax debt relief you should consider all options, including this one and any others.
There are many benefits of tax debt relief through an offer in compromise.
Do you know what they are? To start, an offer in compromise is a way of settling your tax debt for less than what you owe.
In other words, the IRS will let you pay less than the total balance while putting your account in good standing.
Even though this is what most people are looking for, things do not always work out.
Roughly 10 to 15 percent of offers are accepted by the IRS.
Those who file and are shutdown need to look into another method.
This does not mean that you should ignore an offer in compromise, though.
Who knows, you may be one of the "lucky" people who have reason enough for the IRS to accept an offer.
Understanding the basics of an offer in compromise is simple.
You make an offer to the IRS for an amount less than what you owe.
If they accept it, you have to pay the money in a certain period of time to bring your account into good standing.
If it is rejected you then need to look at all your other options such as an installment agreement.
Filing an offer in compromise sounds difficult if you have never done so before.
But in all actuality, it is not nearly as bad as you may think.
If you are worried about what goes into filing an offer in compromise you can hire a tax professional with experience in the area of debt relief.
With a professional, if your offer in compromise is not accepted he can help you find something else that will also work.
Finding IRS tax debt relief is not always simple.
With an offer in compromise you have the ability to get out of debt for less than what you owe.
If you are searching for tax debt relief you should consider all options, including this one and any others.
There are many benefits of tax debt relief through an offer in compromise.
Do you know what they are? To start, an offer in compromise is a way of settling your tax debt for less than what you owe.
In other words, the IRS will let you pay less than the total balance while putting your account in good standing.
Even though this is what most people are looking for, things do not always work out.
Roughly 10 to 15 percent of offers are accepted by the IRS.
Those who file and are shutdown need to look into another method.
This does not mean that you should ignore an offer in compromise, though.
Who knows, you may be one of the "lucky" people who have reason enough for the IRS to accept an offer.
Understanding the basics of an offer in compromise is simple.
You make an offer to the IRS for an amount less than what you owe.
If they accept it, you have to pay the money in a certain period of time to bring your account into good standing.
If it is rejected you then need to look at all your other options such as an installment agreement.
Filing an offer in compromise sounds difficult if you have never done so before.
But in all actuality, it is not nearly as bad as you may think.
If you are worried about what goes into filing an offer in compromise you can hire a tax professional with experience in the area of debt relief.
With a professional, if your offer in compromise is not accepted he can help you find something else that will also work.
Finding IRS tax debt relief is not always simple.
With an offer in compromise you have the ability to get out of debt for less than what you owe.
