The Internal Revenue Service is now accepting more offers in compromise than ever before.
Yes , the IRS is willing to finally reduce tax debt. The latest report issued by the federal government has shown that the Internal Revenue Service has accepted 38% of all submitted offers in compromise submitted and that is up from 28% from the prior year.
Last year 58,000 offers in compromise were filed by taxpayers and the Commissioner of the Internal Revenue Service had instructed its staff of agents to do a better job of accepting settlements and offers an apparently they got the word.
Now is the time to file an offer in compromise to reduce your IRS tax debt.
Before everyone goes running out to file to reduce there there tax debt,there are some important things to understand.
You can find a pre-qualifier tool on our site and I would advise all taxpayers and potential clients to walk through the program to make sure they are qualified before they submit offers in compromise to reduce their tax debt.
We are available for free initial consultation and we will be happy to walk you through the program and make sure you are a qualified person to settle your tax debt.
Please find below the new program offered by the Internal Revenue Service for the settlement of an IRS tax debt reduction.
 
More Flexible Offer-in-Compromise Terms Help Taxpayers Make a Fresh Start
 
The IRS has expanded its “Fresh Start” initiative by offering more flexible terms to its Offer-in-Compromise Program.
These newest rules enable some financially distressed taxpayers to clear up their tax problems even quicker.
An offer-in-compromise (OIC) is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed.
An OIC is generally not accepted if the IRS believes the liability can be paid in full as a lump sum or through a payment agreement.
The IRS looks at the taxpayer’s income and assets to determine the reasonable collection potential.
This expansion of the “Fresh Start” initiative focuses on the financial analysis used to determine which taxpayers qualify for an OIC.
Here are the OIC changes:
Revising the calculation for a taxpayer’s future income The IRS will now look at only one year (instead of four years) of future income for offers paid in five or fewer months; and two years (instead of five years) of future income for offers paid in six to 24 months.
All OICs must be paid in full within 24 months of the date the offer is accepted.
Allowing taxpayers to repay their student loans Minimum payments on student loans guaranteed by the federal government will be allowed for the taxpayer’s post-high school education. Proof of payment must be provided.
Allowing taxpayers to pay state and local delinquent taxes When a taxpayer owes delinquent federal and state or local taxes, and does not have the ability to fully pay the liabilities, monthly payments to state taxing authorities may be allowed in certain circumstances.
Expanding the Allowable Living Expense allowance Standard allowances incorporate average expenses for basic necessities for citizens in similar geographic areas. These standards are used when evaluating installment agreement and offer-in-compromise requests.
The National Standard miscellaneous allowance has been expanded. Taxpayers can use the allowance to cover expenses such as credit card payments and bank fees and charges.
It is important to know that any taxpayer who wants to reduce their tax debt via the offer in compromise will need to fill out form 433 OIC which is the offer in compromise form. You can find that form on our website.
If you’d like us to review that form it would be a good idea for you to have that form completed and have it available for us to review it and go over with you. Please keep in mind that our staff has over 60 years of combined IRS experienced in the local South Florida IRS offices.
We can give you a comprehensive review of your case and give you various tax options and solutions to reduce your IRS tax debt. Call us today for free initial tax consultation

IRS Tax Debt Reduced – New Program Offered by IRS – Affordable – Miami, Ft.Lauderdale, Palm Beaches