Questions about the IRS? Our tax services near me can help.
Question: I owe $420,069 for several years of back taxes but do not have the money to pay the IRS. I want to get them off my back and heard of something called an Offer in Compromise.
What is an Offer in Compromise?
An Offer in Compromise is the IRS’ tax resolution debt settlement program. It’s a program for taxpayers who owe the IRS more money than they can ever afford to pay. It’s the IRS’s version of a “fresh start” when it comes to tax debt.
If approved, the IRS accepts a lesser amount (sometimes a fraction of what you owe!) to settle your debt. However, it isn’t always easy to gain approval due to its strict criteria and eligibility requirements. The IRS considers your income, assets, expenses, ability to pay, and whether paying the total amount, even over time, would cause financial hardship.
How can I qualify?
It’s important to remember that the IRS wants its money and will only accept an Offer in Compromise if it thinks it wouldn’t receive any money otherwise. Your odds for acceptance increase when you have an experienced tax resolution specialist negotiating with the IRS on your behalf. We get to work immediately by implementing a customized resolution plan that fits your unique circumstances if you do qualify.
Tax Services Near Me
We at Palma Financial are experts in IRS tax problem resolution and help taxpayers with their problems every day. There is a solution to EVERY problem. Generally, you’ll never have to meet or speak with the IRS once you bring us into the picture. There is always an answer, so give us a call! 925-307-5454 or click here to set up your confidential consultation.
You will be glad you did!!!