New Offer in Compromise Rules Could Reduce Required Settlement Payment by 75%

Don't normally think of the IRS as a benevolent, charitable agency? Well, think again. The IRS recently made significant changes to the rules governing an Offer in Compromise ("OIC") and, as a result, you may be able to settle your IRS liability for as little as 25% of what you would have had to pay three months ago. Specifically, whereas you previously had to offer four (4) years worth of monthly disposable income (along with the FMV of your personal assets), you now have to offer only one (1) year of monthly disposable income, plus your personal assets. If you previously thought (or were advised) that you made too much money to qualify for an OIC with the IRS to settle your tax debt, you may now qualify under these new rules and an OIC may now be your best option to resolve your tax problem. Give us a call and we will provide a free consultation regarding these new OIC rules and the resolution of your tax problem.


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