Offer In Compromise

Taxpayers that have found themselves owing the federal or state government for unpaid taxes know what kind of a burden that can be.  Between increasing balances through interest and fees and notices of tax liens and levies, the stress from tax debt can mount very quickly.  Thankfully, there are experts out there whose business it is to know the ins and outs of tax law and how to resolve a difficult IRS debt situation.  At Community Tax, our specialists know how to put clients into Offer in Compromise settlements or other fitting programs.

The Offer in Compromise, a sort of lump sum discounted payment plan, can be very beneficial to those in debt to tax agencies like the IRS or state.  It isn’t easy to negotiate, but the savings that come with an OIC are very significant compared to other resolutions.  Once you begin working with Community Tax, our agents will start by determining your eligibility for the various state and federal settlement programs.  Once you are considered eligible for the OIC, our tax practitioners can negotiate for your balance reduction based on your financials and other details of your situation.

Within the last week, Community Tax’s clients in the Offer in Compromise program have had 11 settlements accepted by the IRS.  This was a joint effort between the Case Processors, Negotiators and Case Managers that work on each case.  These clients saved, as a group, over $500,000.  The original balances total around $570,000 and the remaining payment amounts after negotiation came out to under $18,000.

The table shown below shows the specific details of each client’s case.  Their last names have been removed to protect their privacy.  The information included shows the agencies owed, the amounts involved in their cases (Original balance, settlement amount and savings) and the names of some of the team members that contributed to their successful resolution.