Page 47 - Escape Your IRS Nightmare Flip Book

If the ability to pay the IRS through an installment agreement is too difficult, you may consider an Offer
in Compromise instead.

An Offer in Compromise is the best option for individuals with very low income and minimal or no
equity in assets.

The Offer in Compromise is a lump sum amount that is submitted to the IRS in hopes that they accept
this amount and forgive the taxes due.

For example, we have had the IRS accept a $5 Offer in Compromise when the client owed several

thousand dollars. The IRS decides whether to approve the Offer in Compromise or not, and in many
cases several appeals are necessary before the offer is approved.

An Offer in Compromise can be a phenomenal option for the right case and circumstances!
Particularly in cases where someone finds themselves down on their luck and with very little to hold on

to. Instead of letting the IRS seize the precious little you have, you should take proactive steps to
disclose your financial situation to the IRS and show why you should be granted some relief.

We have many Offers in Compromises approved every single month and have confidence in the Offer
in Compromise department of the IRS taking care of taxpayers. However, you may only be successful in
getting your own Offer in Compromise accepted IF you understand how to navigate the channels of the

IRS and properly support your appeals with substantiation.

The burden of proof is always on the taxpayer, so my advice is to always be prepared to provide

evidence of any facts you are stating to the IRS. Provide documentation for as much as you can to
prove your case and to win approval for your Offer in Compromise settlement.

The IRS code provides options for taxpayers who just cannot afford to pay back the money owed to the
IRS, and an Offer in Compromise is just one example of a great solution for those who find their

situation hopeless.

Once your Offer in Compromise is accepted, you will need to pay your Offer amount in full or with the
terms you listed in your original proposal.

Once the Offer in Compromise amount is paid in full, the IRS will forgive the remaining taxes due and
they will release any liens filed against you.
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