Offer in Compromise in Orange, CA

What is an Offer in Compromise?

With Tax Alliance's assistance, it may be possible to wipe your tax debt clean at a large discount. If you qualify for an Offer in Compromise, or "OIC," the IRS will accept less than the amount a taxpayer owes on a tax bill and call it even.

An Offer in Compromise (OIC) is an agreement between the taxpayer and the IRS that settles the tax liability for less than the amount owed. The Offer in Compromise can sometimes be a life-altering form of tax resolution for those who genuinely need it. On average, people that resolve their debt using the Offer in Compromise approach end up paying less than the actual amount owed.

An Offer in Compromise allows you to resolve your tax debt for less than the total amount you owe. It may be a legitimate choice if you can not pay your full tax obligation, or doing so produces a financial challenge.

The Internal Revenue Service will consider your situation based on an unique set of facts and conditions, such as:

  • Ability to pay
  • Earnings
  • Expenses
  • Property equity

The IRS usually approves an Offer in Compromise when the amount offered represents the most they can presume to collect within a reasonable amount of time. The Offer in Compromise program is not for everyone. Contact us for more information and to see if you're eligible for the program.

Make Certain You Are Eligible

The Internal Revenue Service will only consider an offer in compromise if it is for one of the following factors:

  • There is doubt regarding whether the IRS appropriately identified the amount you owe.
  • There is doubt regarding whether the debt is totally collectible. This means your assets and earnings are less than the quantity you owe.
  • The debt is appropriate, and you have the ability to pay the debt completely, yet doing so would cause needless economic hardship. This is called effective tax management.

The IRS will rule out your offer if any of the adhering to are true:

  • You remain in an open bankruptcy proceeding.
  • You have actually not filed the required federal tax returns.
  • You have not made the required estimated tax repayments.
  • You are self-employed, have employees, and also have not submitted the required federal government tax down payments.

The IRS will return any type of newly submitted Offer in Compromise (OIC) application if you have not filed all required tax returns and also have not made any kind of required estimated repayments. Any application fee included with the OIC will also be returned. Any type of preliminary settlement required with the returned application will be placed to reduce your debt. This policy does not relate to the current year income tax return if there is a legitimate extension on the documents.

For more information about Offer in Compromise in Orange, California, contact Tax Alliance at 800.987.3051 or visit our website: TaxAlliance.com to learn more. Let's Resolve Your Tax Debt Today!

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Efficiency through Automation!

Because of advancements in our technology, we are able to communicate with the IRS electronically, its as if we are in the same office! Faster service and more cost effective!

Our Money Back Guarantee!

If you are not happy with our tax services within the initial 21 days, we will give you a 100% refund of services rendered, no questions asked!

Price Match Guarantee

You find it, we will match it! Tax Alliance will match and beat (by 10%) any competitive offer. Contact our office today and receive a free no obligation tax consultation.

Call Us