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OFFERS IN COMPROMISE TO REDUCE TAX LIABILITIES
At times, the IRS will agree to compromise a tax liability which is clearly beyond the taxpayer's ability to pay, even in installments, over any
reasonable period of time. This situation can occur because of a taxpayer's loss of earning capacity due to age or ill health, or simply because the tax liability is so large in relation to any reasonable prospect of repayment that the IRS is willing to compromise the tax bill to an amount which can be reasonably paid.
Many so-called "tax services" advertise the availability of tax compromises as if they were readily available. This is misleading because such ads promise or imply favorable action by the IRS which is in fact discretionary. In the right situation, however, an offer in compromise should be submitted. This is not something that should be attempted without the assistance of a tax attorney with experience in dealing with the IRS. We will analyze your situation carefully and submit an offer in compromise on your behalf if it appears to have a reasonable chance of success.
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425-774-6027
Toll Free 1-800-601-7234
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The above is furnished as general information relevant in the State of Washington only and may not be relied on as legal advice, specific to any situation or otherwise, by any person, whether or not a client of the firm.
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