Sometimes, a situation arises where you owe far more in back taxes, related penalties, and fees than you’ll ever be able to repay. In this instance, you may be eligible for what’s known as an IRS offer in compromise. This tax settlement allows you to settle your tax debt for less than you currently owe. By lowering the balance to a more manageable sum, the IRS is able to collect on at least some of what it is due.
Because an offer and compromise does decrease the taxes you’ll be paying, the government doesn’t grant this settlement lightly. You’ll need a skilled and knowledgeable tax specialist on your side of the bargaining table in order to secure an offer in compromise from the IRS. In and around Nashville, your best bet for quality tax help is Taxation Solutions, Inc. We’re a licensed and insured firm with 40 years of experience among our employees, and we’re committed to getting you results in your dealings with the IRS.
Am I Eligible for an Offer of Compromise?
The first thing Taxation Solutions, Inc. will do when you come to us seeking an IRS offer in compromise is take a thorough look at your financial records. If you’re eligible for an offer and compromise, we’ll get right to work. If you aren’t, we’ll figure out an alternative tax settlement that will help you move forward and break free from your tax problems. Our goal is to make your life easier while also bringing you into compliance with the IRS’s demands.
Want to learn more? Call or e-mail Taxation Solutions, Inc. today!