We are an affordable professional tax firm with over 65 years of direct IRS work experience. Since 1982. Reduce Your Tax Bill.

If you need to reduce your tax bill you may want to consider the offer in compromise program which is also part of tax debt forgiveness.

The program is  very specific program and taxpayers must be eligible for the program. upon your free initial tax consultation we will find out within minutes whether you qualify to reduce your tax bill. Pay no money to no firm unless you know you are a qualified candidate.

We are tax experts in all IRS matters including the offer in compromise program to reduce your tax bill.

The answer is yes you can settle with IRS for pennies on the dollar but read this entire post.

Everyone wants to settle with IRS but there is a very specific format and methodology that must be followed to reduce your tax bill through debt forgiveness.

You could hear the truth about the offer in compromise program when you call us.

I was a former IRS agent and teaching instructor. I have heard countless horror stories from taxpayers who called me about firms that have ripped them off promising tax debt forgiveness settlements to reduce tax bills.

There is a very specific system and methodology to get an offer in compromise approved for pennies on the dollar. Last year 38,000 taxpayers had their cases accepted.

As a former IRS agent I taught the offer in compromise program at the district training center as a former employee.

The question is pennies on the dollar possible?

Yes it is as a matter of fact, over 38,000 taxpayers got their debt settled with the Internal Revenue Service for average settlement of $6500 last year.

There were a total of 78,000 applications for the pennies on the dollar, offer in compromise program last year. That number is expected to grow and grow each and every year however the average wait time is nine months.

With that being said there is much to say about this pennies on the dollar program called the offer in compromise.

Not everybody is eligible for the pennies on the dollar, offer in compromise program.

At our firm we will take no clients money until we are no they are a true candidate for the settlement program.

There are many myths about the offer in compromise so IRS and in their great wisdom provides a pre-qualifier tool to find out if taxpayers are eligible for the offer in compromise program so taxpayers do not give their hard-earned money to unsuspecting tax firms promising tax settlements.

I would suggest anyone who wants to go ahead and settle their tax debt through the pennies on the dollar, offer in compromise program contact an experienced an honest tax professional, have them walk them through the pre-qualifier tool before they give their money to anybody. IRS’s careful not to reduce your tax bill unless you are truly eligible if not there would be lines and lines getting into IRS offices.

If you have any questions or issues about the offer in compromise program to settle your debt for pennies on the dollar, call us today and we will review your case to let you know if you are a qualified and suitable candidate.

One base rule for the offer in compromise program. IRS is only concerned about your income and assets. This includes your equity in your home, pension plans are IRA’s. If you own a business they will want to know the value is the value evaluation.

One nice thing about the IRS accepting your offer in compromise is that once you meet the terms of the settlement they will release your federal tax lien.

Below you will find out what you need to know about the offer in compromise program.

What is a OIC?  The Tax Forgiveness Program How to Reduce  + Your Tax Bill

An offer in compromise allows you to settle your tax debt for less than the full amount you owe.

It may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship.

IRS will consider your unique set of facts and circumstances:

• Ability to pay;

• Income;

• Expenses; and

• Asset equity.

IRS generally approves an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time.

Make sure you are eligible to settle for pennies on a dollar!

Before the IRS can consider your offer, you must be current with all filing and payment requirements.

You are not eligible if you are in an open bankruptcy proceeding.

Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.

Submitting your offer to settle for pennies on a dollar

You’ll find step-by-step instructions and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B (PDF).

Your completed offer/debt forgiveness package will include:

• Form 433-A (OIC) (individuals) or 433-B (OIC) (businesses) and all required documentation as specified on the forms;

• Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;

• $186 application fee (non-refundable); and

• Initial payment (non-refundable) for each Form 656.

Select a payment option for the pennies on a dollar OIC

Your initial payment will vary based on your offer and the payment option you choose:

• Lump Sum Cash:

Submit an initial payment of 20 percent of the total offer amount with your application. Wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.

• Periodic Payment:

Submit your initial payment with your application.

Continue to pay the remaining balance in monthly installments while the IRS considers your offer. If accepted, continue to pay monthly until it is paid in full.

If you meet the Low Income Certification guidelines, you do not have to send the application fee or the initial payment and you will not need to make monthly installments during the evaluation of your offer.

Understand the process of OIC or tax bill reduction

While your offer is being evaluated:

• Your non-refundable payments and fees will be applied to the tax liability (you may designate payments to a specific tax year and tax debt);

• A Notice of Federal Tax Lien may be filed;

• Other collection activities are suspended;

• The legal assessment and collection period is extended;

• Make all required payments associated with your offer;

• You are not required to make payments on an existing installment agreement; and

• Your offer is automatically accepted if the IRS does not make a determination within two years of the IRS receipt date.

Call us today for free initial tax consultation to see if you are a certified an eligible candidate for the offer in compromise program.

We call our office you will speak to a true IRS tax professional. So yes pennies on a dollar is possible, however make sure you’re a qualified candidate. When you call our office you will hear the truth about any IRS question you ask.

So yes it is possible to reduce your IRS tax through the offer of compromise which is also  tax debt forgiveness.

How To Reduce Your Tax Bill + Offer in Compromise Program + Tax Debt Forgiveness