Offers in Compromise

The Offers in Compromise (OIC) program is an IRS program that allows certain qualified individuals to negotiate their tax debt down to a lesser amount. There are three possible arguments one can make to take advantage of the Offers in Compromise program. First you can argue that there is "Doubt as to Liability," meaning that you can prove that the IRS's assessment of your tax debt is not accurate. Another argument you can make is that there is "Doubt as to Collectible," meaning that you can prove that is will by highly unlikely or impossible for the IRS to collect your owed taxes in full. The third option is "Effective Tax Administration," which means that you can prove that the collection of the debt would create an unfair economic hardship that is inequitable.

There are many reasons a person may need to take advantage of the OIC program, and many legal issue involved, which is why you should consult a qualified tax consulting attorney in Texas. If you are struggling to pay you tax debt and need to know if you qualify for the OIC program, then call C. Jay Helm & Associates at (877) 204-7296, to speak with one of our Texas tax consulting attorneys who will help walk you through you options on how best to deal with you debt.