An offer in compromise (OIC) is an agreement with the Internal Revenue Service in which the IRS agrees to accept less than the full amount of the tax tax bill in settlement of the entire debt that you may owe. In many cases, taxpayers can save thousands of dollars through an OIC, and a lot of the headache that comes with a direct challenge to a debt owed to the IRS.
VinceLegal will work with you to review the specifics of your situation, and explain whether or not an OIC is the best route to take. If an OIC isn’t the best choice for you, VinceLegal will advise you on other methods of dealing with your taxes, which may include:
- Interest & penalty abatement;
- The IRS Fresh Start Program;
- Currently not Collectible Status;
- An installment agreement with monthly payments; and
- Innocent spouse relief.
If we can dispute the amount the IRS says is owed, this is the first step toward reducing or eliminating your tax bill. If you think you may need an experienced attorney to work with you and the IRS, please do not hesitate to call VinceLegal today.