Offer in Compromise
Yes it is True! The IRS will accept less than you owe if you qualify.
The IRS offer in compromise "OIC" allows you to settle your tax debt for less than the full amount you owe. If you qualify, this option provides the most benefit as you settle for less than you owe and any liens are removed. The unique set of facts and circumstances the IRS considers are the ability to pay, assets income and expenses. This is a very intricate and complicated process that requires the unique knowledge of the professionals at Wolf Tax to get the best IRS tax resolution.
Patricia is an incredible woman from Colorado who recently lost her husband, had a large tax bill and nowhere to turn. That is when she came to Wolf Tax and we filed an OIC for her. The IRS accepted an offer of $600 on a $35,000 balance.*
David is your regular Joe. He works hard and makes a decent living, but the IRS started harassing him and wanted him to pay more than he could afford. He called for help and we got him a deal where the IRS accepted $450 on his $48,000 tax debt.*
Jennifer is a struggling single mother of two who also had nowhere to turn and wanted nothing more than to have the IRS off of her back. Her only problem was that she had a car that had equity of $5,625 in it. We submitted an OIC to the IRS and they accepted $4,500 to settle 60k worth of tax debt.*