Offer In Compromise

Offer in Compromise (OIC) for IRS Tax Relief

If you’re facing IRS back taxes that you can’t afford to pay, SafeGuard Tax is here to help. The Offer in Compromise (OIC) program, established by Congress, provides a path to settle your tax debt for less than the full amount owed.

Our team of tax professionals at SafeGuard Tax specializes in helping clients qualify for the OIC program, negotiating with the IRS to potentially save you a significant amount of money.

Settling with the IRS

Having the right knowledge and representation is key when it comes to dealing with IRS tax issues. Our experts have the experience to help you secure the best possible settlement for your back taxes.

It’s important to note that the OIC program is not for everyone. Unlike bankruptcy, an Offer in Compromise is a discretionary option, not a guarantee. The process is complex and can take up to a year to complete. Strict adherence to IRS guidelines, as outlined in Internal Revenue Code Section 7122, is required. Attempting to file OIC forms on your own can often lead to a denial or a higher payment than necessary.

How SafeGuard Tax Can Help You

We work to secure the lowest possible payment allowed by law, and we only take cases where we are confident we can provide a solution to your tax problem. During our thorough pre-qualification process, we evaluate whether you’re eligible for tax relief and guide you through the best options available to resolve your tax situation permanently.

Relying on a general CPA or attorney to navigate the OIC process may lead to further complications. In some cases, the IRS may reject the offer, leaving you with additional interest and penalties, and possibly a larger debt than before.

The OIC program is intended for those who owe more than they could ever realistically pay. It allows qualifying taxpayers to settle their debt for a smaller, manageable amount. While it may seem like a loss for the IRS, this approach often saves them the significant costs associated with long-term collection efforts, which may eventually result in no payment if the statute of limitations expires.

Types of Offer in Compromise

If you’re unable to pay your tax debt, you might qualify for a Doubt as to Collectability OIC. We will negotiate a settlement based on your financial hardship and current assets.

Additionally, if you believe the amount you owe is incorrect or you don’t actually owe the tax, you may be eligible for a Doubt as to Liability (DATL) Offer in Compromise. This process allows you to request a reconsideration of your tax liability.

If either of these situations applies to you, contact SafeGuard Tax at 1-844-123-4567 to discuss your potential eligibility for an Offer in Compromise with one of our specialists.

In order to qualify for the IRS Fresh Start initiatives for debt settlement or lien withdrawals generally, you’ll need a couple of things at a minimum: The first is that any missing or unfiled tax returns must be filed. The other thing that is typically required is that you are current with your estimated tax payments or your current withholdings are correct, and they have been so for the last 6 months.

What is an offer in Comprise?

An offer in compromise is an agreement between a taxpayer and the IRS that settles back taxes for less than the full amount owed. The goal is a compromise that’s in the best interest of both the taxpayer and the agency.

When reviewing applications, the IRS considers the taxpayer’s unique set of facts and special circumstances affecting their ability to pay including their:

Income

Expenses

Asset Equity

Once you have paid the IRS the full amount stated in an OIC agreement (and paid it within the agreed-upon time frame), your back taxes will be paid in full. Meaning, your back taxes will be considered officially resolved, even if – as is commonly the case – the OIC amount is just a tiny fraction of what you owed the IRS initially.

See If You Qualify In Minutes

If you are considering an offer in compromise, let our experts guide you through the processes. Give us a call at 866-123-4567 or submit your application below. Apply Now!

Offer In Compromise