Lower your tax bill with an Offer in CompromiseFor self-employed individuals or independent (1099) Contractors who are unable to pay their outstanding tax bill(s) and have exhausted all other options negotiated with the IRS, an Offer in Compromise (OIC) may be issued allowing you to settle the debt for less than the full amount owed.
What is an Offer in Compromise?
An offer in compromise is an agreement between a taxpayer and the IRS that resolves the taxpayer's tax debt. The IRS has the authority to settle, or "compromise", federal tax liabilities by accepting less than full payment under certain circumstances. A tax debt can be legally compromised for one of the following reasons:
- Doubt as to Liability - Doubt exists that the assessed tax is correct.
- Doubt as to Collectibility - Doubt exists that you could ever pay the full amount of tax owed.
- Effective Tax Administration - There is no doubt the tax is correct, and no doubt that the amount owed could be collected, but an exceptional circumstance exists that allows the IRS to consider a taxpayer's OIC. The taxpayer must demonstrate that collection of the tax would create an economic hardship or would be unfair and inequitable.
Taxpayers should beware of certain promoter's claims that tax debts can be settled for "pennies on the dollar" through the Offer in Compromise Program. Settlement amounts vary widely. Call Effectur today to discuss your OIC settlement potential. You will always get a straight answer from us.
Effectur’s team of tax resolution experts can help you work through the red tape. We have successfully negotiated Offers-in-Compromises for clients all across America, saving tens and even hundreds of thousands of dollars for some of them. Best of all, our OIC recipients are able to get a second chance at financial freedom and no longer suffer the anguish of receiving demand letters from the government.
Contact Effectur today and we’ll explain how Offers in Compromise are used in the best interests of both you and the government. With our free tax settlement analysis, we’ll also help you see if you qualify for the program and work with you through the difficult process.
Start you journey back to financial freedom, Call Effectur today at 1-800-834-7214.