Offer in Compromise
Settle Your Tax Debt for Less Than You Owe
An Offer in Compromise allows qualified taxpayers to settle their tax debt for less than the full amount owed. Axio Tax Relief has extensive experience negotiating successful OIC settlements with the IRS.
What is an Offer in Compromise?
An Offer in Compromise (OIC) is an agreement between you and the IRS that settles your tax debt for less than the full amount you owe. It may be a legitimate option if you can't pay your full tax liability or if doing so creates a financial hardship.
The IRS considers your unique set of facts and circumstances, including your ability to pay, income, expenses, and asset equity. The IRS generally approves an OIC when the amount offered represents the most they can expect to collect within a reasonable period of time.
Not everyone qualifies for an Offer in Compromise, which is why it's crucial to work with experienced tax professionals who understand the intricate qualification requirements and can present your case effectively to the IRS.
Benefits of an Offer in Compromise
Settle for Less
Pay a fraction of your total tax debt through IRS settlement.
Comprehensive Evaluation
We analyze your financial situation to determine eligibility.
Expert Documentation
We handle all paperwork and IRS communications for you.
Fresh Start
Begin anew with your tax obligations resolved.
Our OIC Process
Qualification Review
We evaluate your financial situation to determine if you qualify for an Offer in Compromise.
Offer Preparation
Our experts prepare a comprehensive offer package with detailed financial documentation.
IRS Negotiation
We submit your offer and negotiate with the IRS on your behalf.
Settlement Acceptance
Once approved, you pay the agreed amount and your remaining debt is forgiven.
Do You Qualify?
To be eligible for an Offer in Compromise, you must meet these basic requirements:
- You have filed all required tax returns
- You have made all required estimated tax payments for the current year
- If you are a business owner with employees, you have made all required federal tax deposits for the current quarter
- You are not in an open bankruptcy proceeding
Meeting these requirements doesn't guarantee approval. The tax professionals at Axio Tax Relief will evaluate your complete financial situation to determine if an OIC is the right solution for you.
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