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Cut Your IRS Debt With the Offer in Compromise Program
IRS Offer in Compromise - Settle Your Tax Debt for Less With Better Tax Relief
Struggling with overwhelming tax debt? Better Tax Relief (BTR) is here to guide you through the IRS Offer in Compromise (OIC) program, a solution that could significantly reduce what you owe. Whether you’re facing financial hardship or simply can’t pay the full amount, our team at BTR specializes in helping taxpayers like you settle with the IRS for less, giving you a fresh start. Curious about how it works? Let’s break it down and explore how BTR can support you every step of the way, or check out our Free Tax Consultation to get started.
Struggling with overwhelming tax debt? Better Tax Relief (BTR) is here to guide you through the IRS Offer in Compromise (OIC) program, a solution that could significantly
What Is an Offer in Compromise?
An Offer in Compromise (OIC) is an IRS program that allows qualifying taxpayers to settle their tax debt for less than the full amount owed when paying in full is financially impossible. The IRS evaluates your ability to pay based on income, expenses, assets, and future earning potential, aiming to collect what’s realistically feasible. According to the IRS.gov Offer in Compromise page, this program is ideal for those in financial hardship or when the IRS deems the full debt uncollectible. However, applying on your own can be tricky – many are denied due to incomplete Offer in Compromise forms or insufficient evidence of hardship.
Key Offer in Compromise Facts
An Offer in Compromise (OIC) is an IRS program that allows qualifying taxpayers to settle their tax debt for less than the full amount owed when paying in full is
Who Qualifies
Taxpayers facing financial hardship or unable to pay full debt due to limited income or assets.
Program Benefit
Can reduce total tax debt to a fraction of the original balance, sometimes under 20%.
Required Documentation
Detailed financial statements, proof of income/expenses, and asset valuations.
Approval Rate
Approximately 30-40% of OIC applications are approved by the IRS.
IRS Considerations
Evaluates income, living expenses, asset equity, and future earning potential.
Without proper preparation, it’s easy to miss critical offer in compromise requirements or submit incomplete documentation, leading to rejection. That’s where professional help makes a difference, and if you’re curious about other options like IRS Installment Agreements, BTR has you covered.
How Better Tax Relief Helps You Get Approved
At Better Tax Relief, we know the IRS OIC program inside and out, and our experienced team is dedicated to maximizing your chances of approval. From crafting a compelling application to negotiating with the IRS, we handle the heavy lifting so you can focus on moving forward. If an OIC isn’t the best fit, we’ll explore alternatives like Currently Not Collectible status or other tax relief options tailored to your needs. Here’s how BTR sets you up for success:
At Better Tax Relief, we know the IRS OIC program inside and out, and our experienced team is dedicated to maximizing your chances of approval.
Thorough Financial Analysis
We dive deep into your income, expenses, and assets to build a strong case for your IRS settlement offer.
Strategic Application Preparation
Our team ensures your offer in compromise form is complete, accurate, and backed by solid evidence.
Expert Representation
We communicate directly with the IRS, advocating for your case and addressing any follow-up requests.
Customized Solutions
If OIC isn’t viable, we recommend the best path forward, whether it’s Tax Levy relief or another solution.
Ongoing Support
From initial consultation to final approval, we’re with you every step, answering questions and providing clarity.
With BTR, you’re not just submitting an application – you’re building a strategic plan to resolve your tax debt. Learn more about our approach on our Who We Are page.
Why Choose BTR for Your Offer in Compromise Application?
01
Experienced Tax Professionals
Our team has years of expertise navigating the IRS OIC program, increasing approval odds.
02
Personalized Strategies
We tailor every OIC application to your unique financial situation for the best outcome.
03
Comprehensive Support
From paperwork to IRS negotiations, we handle every detail with care and precision.
04
Transparent Process
We keep you informed at every step, ensuring no surprises along the way.
Offer in Compromise FAQs
What is an Offer in Compromise and how does it work?
An Offer in Compromise is an IRS program that lets you settle your tax debt for less if you can’t pay the full amount. You submit a proposal based on your financial situation, and the IRS decides if they’ll accept it.
Who qualifies for the IRS Offer in Compromise program?
Taxpayers who can’t pay their full tax debt due to financial hardship or limited assets may qualify. The IRS reviews your income, expenses, and assets to determine eligibility.
How much can I save with an Offer in Compromise?
Savings vary, but successful OIC applicants often settle for 20% or less of their original debt. Your offer depends on what the IRS believes they can realistically collect.
How long does the IRS take to process an OIC application?
The IRS typically takes 6-12 months to review an OIC application. Working with BTR can help ensure your application is complete to avoid delays.
Can I apply for an Offer in Compromise on my own?
Yes, but many applications are denied due to errors or incomplete documentation. Professional help from BTR improves your chances of approval significantly.
Ready to Settle With the IRS for Less?
Tax debt doesn’t have to define your future. With Better Tax Relief, you can take control and settle your IRS debt for less through the Offer in Compromise program. Our friendly team is ready to answer your questions, guide you through the process, and find the right solution for your needs. Don’t wait – reach out today via our Contact Us page or call us to schedule your free consultation. Let BTR help you start fresh and stress-free!
Tax Attorney Near Me
Better Tax Relief proudly serves clients from our office in Irvine, CA, where our dedicated team is ready to assist with your IRS OIC needs. Visit us or schedule a consultation to start resolving your tax debt today.
