How an Attorney Can Help with Your IRS Offer in Compromise
Feb 28, 2023
An Offer in Compromise (OIC) is a program offered by the IRS that allows taxpayers to settle their tax debt for less than the full amount owed. However, the OIC process can be complex and confusing, and many taxpayers who apply for an OIC are denied. That’s where an attorney can help. Here are some ways that an attorney can help with an IRS Offer in Compromise:
- Determine eligibility: An attorney can help you determine whether you are eligible for an Offer in Compromise. They can review your financial information and help you understand the IRS’s eligibility criteria.
- Negotiate with the IRS: An attorney can negotiate with the IRS on your behalf. They can present your case to the IRS and argue for a lower settlement amount. They can also help you understand the IRS’s evaluation of your financial situation and help you present the most favorable case.
- Ensure compliance: An attorney can help you ensure that you are in compliance with all IRS requirements during the Offer in Compromise process. They can ensure that you submit all required documents on time, make any required payments, and meet any other IRS requirements.
- Provide guidance: An attorney can provide guidance throughout the Offer in Compromise process. They can help you understand your rights and responsibilities, and can provide advice on how to respond to any questions or concerns that may arise during the process.
- Appeal a denial: If your Offer in Compromise is denied, an attorney can help you appeal the decision. They can review the denial letter, identify any errors or omissions, and help you understand the grounds for appeal.
In conclusion, an Offer in Compromise can be an effective way to settle your tax debt for less than the full amount owed. However, the OIC process can be complex and confusing, and many taxpayers who apply for an OIC are denied. That’s where