IRS Offer in Compromise helped our client who came to us with a tax bill totaling $242,051.98
In 2014 a couple owing more than $242,051.98 hired our team of professional EA’s to help resolve the tax problem they were facing. The couple had not filed in several years as they knew they were going to owe and were afraid of what that would mean for them. True Resolve Tax Professional helped them get all their missing returns filed and they ended up owing a large amount of tax, penalty, and interest. The taxpayers were both retired by the time we filed all the delinquent returns and based on their income and limited assets, they were able to qualify for an Offer in Compromise.
Once we filed the IRS Offer in Compromise it took just over 10 months to obtain acceptance. Our client was aware of the estimated time frame ahead of time-based on our experience and knowing the IRS is understaffed and operating under budget. Ten months later, after no adjustments being made by the IRS Offer examiner, the IRS accepted our Offer in Compromise of $410.50 and agreed to settle out the couple’s tax bill debt. We set the client upon a periodic payment offer, and they will make small monthly payments for 5 months until their Offer is paid in full, and will then receive releases of their Federal Tax Liens.
Do you want to know if you can qualify for a similar tax settlement?
If you or someone you know can’t afford to pay a tax bill, and you are unsure what to do, give us a call at 866-888-6090. We would be more than happy to schedule a no-obligation consultation to discuss what options you may have available to you.