OFFER IN COMPROMISE

An Offer in Compromise provides a taxpayer an opportunity to offer the Internal Revenue Service a lesser sum of money than due to eliminate the tax liability including penalty and interest. The IRS requires the taxpayer to file financial statements regarding his or her property and income. If an Offer in Compromise is handled properly, the taxpayer's liability will be reduced if accepted by the IRS.

If an Offer in Compromise is not handled properly and is rejected by the IRS, the taxpayer has submitted to the IRS all the information they need to restart collection proceedings against the taxpayer.

The lesson to be learned: Before you submit an offer, you want to make sure that your offer has a high probability to be accepted by the IRS; and you have an experienced advocate who will argue for acceptance of your offer as it makes its way through the Internal Revenue Service.

Should you be contemplating making an Offer in Compromise and you want a free consultation regarding you Offer in Compromise, please e-mail me at helptax@nauticom.net or contact me at (412)364-6990 or (724)612-2993.

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Robert C. Tourek, Esq., LLM (Tax)
Legal Practice Concentrating on
IRS and Pennyslvania Tax Matters