An Offer in Compromise allows a taxpayer to settle a tax debt with the IRS or State Tax Agency for less than the full amount owed. It is an excellent tax settlement option for a qualifying taxpayer because it allows for the resolution of all outstanding tax balances at once, including penalties and interest, back tax liabilities and multiple tax years. An additional benefit of filing an Offer in Compromise petition is that other collection activities are generally suspended while the application is under review.
That being said, the process of filing an Offer in Compromise can be long and complicated and the qualification criteria are very specific. The CPAs and tax professionals at BCH Consulting, Inc. have extensive experience with the Offer in Compromise settlement option and will only recommend it if they believe it is the best resolution option available and that the offer will be accepted. Once that determination has been made, the tax specialists at BCH Consulting, Inc. prepare the offer and submit all of the required documentation. Following that, we represent the client before the IRS or State Tax Agency until the application is accepted and the process is complete.[note color=”#d3e6f9″]If you are have an outstanding tax liability and are interested in finding out whether you meet the acceptance criteria for an IRS Offer in Compromise, the licensed tax professionals at BCH Consulting can provide you with the help you are looking for. Call us today at (949) 954-8133 or fill out our online request form to receive a free, no obligation consultation.[/note]