A GUIDE TO THE IRS OFFER IN COMPROMISE PROGRAM
Updated in 2015, this no-nonsense step-by-step guide will help you or your business prepare a formal Offer in Compromise Application to the IRS to settle delinquent taxes, penalties & interest for a fraction of the original debt.
The IRS Offer in Compromise Program is designed to give taxpayers and businesses a "fresh start" by eliminating tax debt & removing federal tax liens even if past tax returns have not been filed.
Information in this book includes compilations from the IRS combined with powerful real-world strategies that will help you avoid rejection and get the best possible tax settlement.
A partial list of what is included:
- Descriptions of actual Offer in Compromise case settlements.
- How to avoid the top 20 mistakes made by Offer in Compromise applicants.
- How to find a qualified tax professional to help if you don't want to do it yourself.
- Alternate tax relief options such as abatements, hardship relief, innocent spouse relief, relief while overseas or in military service, and bankruptcy.
- Insights into how IRS agents review and evaluate Offer in Compromise applications.
- Tips on releasing liens and rebuilding credit afterwards.
- A robust Appendices with references and links to IRS forms, instructions and Internal Revenue regulations that govern the process.