Offer in Compromise

An Offer in Compromise is a financial settlement of past-due taxes. It can potentially enable you to pay off your tax debt for pennies on the dollar. An Offer in Compromise covers all personal taxes: income tax, employment tax, estate tax, excise tax, and more.

Offer in Compromises are one of my favorite exercises. The process is simple in the fact that it is a highly governed and regimented process. There are very specific steps that must be taken and there is no option in the process if it is to succeed. It is very difficult from the standpoint that there is a great deal of stress involved on the parties and that nothing can be done until all information is organized, verified put into order for the tax agencies and then investigated.

I really happen to enjoy doing these; however, I have no interest in wasting your time or money when you do not qualify for the process.

If your oldest tax owed is three years or younger and you have not had a major medical or financial calamity you do not qualify for Offer in Compromise. At best, we can set up a payment plan for you and that will help protect your assets, credit, and lifestyle. You will find plenty of places that advertise differently, but if you go to such a place, you will eventually lose and pay a lot of money to learn what I just told you. One of my favorite clients spent five years and close to $15,000 with such a firm. In the end, the roughly $40,000 he owed in back taxes grew to just under $100,000.

If your oldest tax owed is more then three years or you have had a major medical or financial calamity, please call for an appointment. My fee structure is very straightforward. I charge $2,000 base fee, no more then $5,000 for individual offers, and no more then $10,000 for businesses. You will know what my total fee is before you leave the office; the balance is due after the paperwork is finished but before submitted to the IRS. Both federal and state are included in the fee.

Payment-plan work is done on an hourly rate of $100 per hour with a $500 minimum. Both federal and state are included in the fee.

No one can guarantee success on these procedures; however, failure is guaranteed if you lie, if you gift assets or put assets into another’s name to conceal them, or if you lied on the original returns filed to such an extent you are charged with a felony.