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Bridges & Yallaly CPAs PA

Offer In Compromise

Contact Us (913) 631-6581

Did you know that you can settle your debt with the IRS with their Offer in Compromise program? The program allows taxpayers to settle with the IRS on tax debt that has been incorrectly assessed or for liabilities they cannot afford to pay.

The IRS Code states: "We will accept an Offer in Compromise when it is unlikely that we can collect the full amount owed and the amount you offer reasonably reflects the collection potential..." (Internal Revenue Code section 7122).

Often it is possible to fully and completely eliminate the taxes you owe - including all penalties and interest - at an enormous discount. There is no preset bottom limit that the IRS will accept to settle your debt especially if your offer is done "right."

An Offer in Compromise does have significant limitations and costs and may not be appropriate in every situation.

Request a consultation on the solutions to your tax problems by completing the form below.

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