Services: Offer in Compromise
Resolving IRS Problems – Offer in Compromise
An Offer in Compromise allows you to cut a deal with the IRS to pay less than what you owe, often for pennies on the dollar. However, not all taxpayers are eligible for an Offer in Compromise. We perform a thorough financial analysis to determine whether you are eligible for an Offer in Compromise.
WARNING! Watch out for empty promises from other tax representation firms that tell you on the telephone that they can get an Offer in Compromise for you. Can your doctor diagnose, treat and cure a serious problem on the telephone? Of course not. A thorough financial analysis is needed to determine if you are eligible for an Offer in Compromise, just like a doctor needs to run tests to determine what is wrong.
An Offer in Compromise is based upon many different factors including, but not limited to, the taxpayer’s age, health, income, assets and liabilities. All of these items are factored into a mathematical model to determine the taxpayer’s eligibility for an Offer and, if eligible, the amount the IRS may be willing to accept under that Offer.
There are three types of Offers in Compromise. Each type of Offer is discussed below:
1. Doubt as to Collectibility (“I can never pay the IRS what I owe them.”) – If a taxpayer cannot pay his or her tax liability in full, he or she may be eligible for an Offer in Compromise based upon this ground. We perform a thorough financial analysis to determine whether you are eligible for this type of Offer. If you are eligible, we calculate the dollar amount that the IRS may be willing to accept. This program is a wonderful way to eliminate one’s tax liability for pennies on the dollar.
2. Doubt as to Liability (“I don’t owe the IRS what they say I owe them.”) – Doubt as to Liability is used where the amount the IRS is seeking to collect is incorrect. A taxpayer does not need to disclose his or her financial condition to the IRS with this type of Offer.
3. Effective Tax Administration (“I can pay my tax liability but to do so would cause a hardship.”) – When a taxpayer has the ability to pay his or her liability in full, but to do so would cause a significant hardship, an Offer in Compromise under this ground may be appropriate.
The IRS accepts Offers in Compromise not only from individuals, but also from businesses.
Case Study: Our taxpayer owed $1,700,000.00 to the IRS. He incurred this liability in a past job where he made a lot of money. Unfortunately, his life circumstances changed and he no longer made as much money as he did in the past. We were able to cut a deal with the IRS for only $2,000.00. Our taxpayer is now free of any IRS problems as a result of our efforts.
Patrick T. Sheehan & Associates has had tremendous success in obtaining Offers in Compromise for taxpayers like you since its inception in 1991. When he was an attorney for the IRS, Mr. Sheehan said yes or no to every single Offer in Compromise at the IRS District Counsel level. Mr. Sheehan left the IRS in 1991 to represent taxpayers like you. Since that time, most of our Offers in Compromise have been accepted by the IRS. If you would like to settle for pennies on the dollar, call us. We can help.
1-877-4-IRS-LAW