Eight Things You Need to Know About the IRS Offer in Compromise Program

An offer in compromise is a legal agreement between you and the IRS that settles your tax debt for less than the full amount you owe.  It provides you with a path for paying off your tax debt and getting a “fresh start.”  If you have unpaid tax debts, here are eight things you need to know about the IRS’s offer in compromise program:The IRS can settle any civil or criminal tax case via an offer in compromise prior to referral to the Department of Justice for prosecution or defense.The IRS generally cannot levy or take your assets while your offer in compromise is pending or is in effect, unless the collection of tax is in jeopardy.There are three types of offers that you can make:Doubt as to liability (which is used when there is a genuine dispute as to the amount of or your liability for the tax debt),Doubt…
Source: IRS Tax Debt Relief

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