. Offer in Compromise


Offer in Compromise

The IRS Offer in Compromise program has been set up to allow many taxpayers to settle their debt with the IRS for only a fraction of what they actually owe. This also allows taxpayers to settle with the IRS on tax debts that have beenincorrectly assessed.

The IRS Code states:

"We will accept an Offer in Compromise when it is unlikelythat we can collect the full amount owed and the amount you offer reasonably reflects the collection potential..." (IRS Code section 7122).

It is possible to completely eliminate the taxes you owe, including penalties and interest, at a considerable discount. If your offer is done correctly, there is no defined limit as to the discounted amount the IRS will accept to settle your debt.

When done correctly, your debt may be settled for only pennies on the dollar of what you presently owe. The key is to determine the least amount that the IRS will accept from you before you make the offer. It is strongly advised that you hire a professional with knowledge of the IRS evaluation procedures and tax law in order to cut the best possible deal for you or your company. This will save you a considerable amount of money.

No matter what state you live in, the Certified Public Accountants of Kenneth D. Eichner, P.C. have the experience to prepare the best possbile offer on your behalf. You will most likely never need to visit our office. All communication can be effectively handled by mail, phone or facsimile. Most importantly, you will not be required to communicate with the IRS We will do that for you. The IRS will be required to contact us. However, we will provide you copies of all documents we send to the IRS and we will be able to keep you informed whenever you call or write us.

Unless you take the first step toward solving your IRS problems, they may never go away. Let the CPAs of Kenneth D. Eichner, P.C. quickly and affordably resolve these problems for you.

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