Offer in Compromise

Submitting an offer in compromise (OIC) is serious, almost tantamount to filing for bankruptcy. The decision to submit an offer should not be taken lightly. The program is designed for people who cannot afford to pay their taxes (even over time) and for those who do not have enough value built up in property or assets to satisfy the tax debt. While the OIC program is a concession from the IRS, it also represents a major concession on the part of the taxpayer. The paperwork required to submit an offer in compromise gives the IRS a great deal of information about a taxpayer’s financial situation they would not have access to otherwise. The bottom line is that submitting an OIC should be a taxpayer’s last resort.

Many people call us and want to immediately talk about getting an offer in compromise (OIC) so they can settle their tax debt. While the OIC is the most publicized tax settlement option, it is not the only effective approach, nor is it the fastest or most certain. We help our clients settle federal tax debt using strategies that take advantage of multiple IRS programs. Effective IRS settlement strategy is a big part of what K&K Tax Group offers.

K&K Tax Group is a national tax resolution firm comprised of experienced tax attorneys, enrolled agents and tax relief professionals practicing as Tax Resolution Specialists certified by the American Society of Tax Problem Solvers (ASTPS). This is what makes us uniquely qualified to successfully solve IRS problems day in and day out. Our licensed professionals (every tax attorney, CPA and enrolled agent) must meet educational, experience and examination requirements prescribed by the ASTPS, a national, not-for-profit professional organization.

The information provided herein is not intended as legal, accounting, financial or any type of advice for any specific individual or other entity. You should contact an appropriate professional for any such advice.

K&K Tax Group

(877) 395-0304

www.kktaxgroup.com