Offer in Compromise, Do You Qualify? Read Before You Pay $5000 for an OIC

We have prepared a short summary, of people who may or may not qualify for an Offer in Compromise.  However, taxpayers should know that only the IRS can and will make the final decision, based upon your particular situation.  Experienced Enrolled Agents and Tax Attorneys can be extremely helpful in helping a tax payer to know if they may qualify for an OIC.   To view a general summary concerning an OIC visit: http://www.taxeswilltravel.com/how-to-prepare-offer-in-compromise.htm -

Take your time read the 12 points concerning OIC and know that if you are interested in filing an Offer in Compromise, you will need to have FILED ALL OF YOUR PASS DUE TAX RETURNS.

(Special Note:  If you can qualify for a Hardship Status with the IRS, then you may be able to qualify, and want to consider an OIC, due to continued interest. 

When a tax payer owes the IRS $25,000 and they pay a company $5000 to make the bill go away, we are sure the IRS looks at this unfavorably.  To our knowledge, they have never said anything, but you have to wonder if the IRS is thinking, that the taxpayer could have made arrangement with the IRS, paid the $5000 to the Department of the Treasury and possibly gotten the balance wiped out?  If in this case the taxpayer doesn’t qualify for the OIC, because of assets, then the IRS just sends a “form” letter which says “NO.”

Come on people, the IRS knows exactly how much you have to pay certain companies for IRS Offer in Compromises, if you were in their shoes, would you not think the same thing?