| Does this sound like you? Do you have an IRS tax | | | | not completed properly with all of the information |
| problem that you are looking to resolve? Are you | | | | required, all that time is wasted and you will still owe |
| having problems coming up with the funds to pay off | | | | the full amount of back taxes plus penalties and |
| back taxes? If you answered yes to these questions, | | | | interest. |
| then an Offer in Compromise program just might be | | | | Don't Waste Your Time! Avoid wasting time and |
| right for you. | | | | effort in this process. If you can't qualify, you certainly |
| Settle Down! This program is another form or tax relief | | | | don't want to put energy into a lost cause. But if you |
| that is offered by the IRS. It allows you to settle your | | | | do qualify, you should definitely see about the specifics |
| back tax debt that you owe to the IRS for a reduced | | | | of the program Consult with a tax professional who |
| amount. This reduction is determined based upon | | | | understands the process. |
| individual financial circumstances. | | | | Avoid being turned down...By allowing a tax |
| The Proof is in your Hands...Obtaining approval for the | | | | professional to help, you can save yourself a lot of |
| Offer in Compromise program is quite an effort. The | | | | time and aggravation and possibly money in the long |
| IRS requires that the individual who is in debt prove | | | | run. The professionals will be able to determine if you |
| that there is no way possible to pay back the entire | | | | are actually eligible for the Offer in Compromise |
| amount owed within a five year period. The IRS | | | | programs offered by the IRS. |
| makes the process grueling, mostly because it has the | | | | Keep in mind that most requests for paying off less |
| ability. Nothing makes an IRS Hitman happier than | | | | than you owe are generally turned down by the IRS. |
| putting someone through a tedious process. | | | | A tax professional can increase your chances of |
| The Process: There is a rather long application that | | | | being accepted for the program. Even if you don't |
| must be filled out completely and in proper format. Full | | | | qualify, a good tax professional will be able to give you |
| disclosure of financial information is also required. The | | | | other options to pay off your tax debt and get your |
| process of applying for the offer in compromise is a | | | | financial life back on track. |
| lengthy one, sometimes taking up to two years before | | | | Now you have the smoking gun...Use it! |
| approval is either given or denied. If the paperwork is | | | | |