Offer in Compromise
If you are unable to pay your total tax liability, you may be able to settle your tax debt for less than the total amount that you owe to the IRS. The IRS allows taxpayers to submit an Offer in Compromise to settle their tax debts. The tax attorneys at JEFFREY BURR have helped their clients save tens of millions of dollars in taxes through successful Offers in Compromise.
You may qualify based on an analysis of your income and the equity in your assets, which is used to calculate the reasonable collection potential (RCP). An Offer in Compromise will stop all IRS collection actions such as an IRS levy or wage garnishment.
There are three (3) grounds on which your IRS Offer in Compromise can be accepted: