When a tax settlement with the IRS could sink your ship, if the taxes the IRS is assessing aren’t correct, or there’s little chance you can repay what the IRS says you owe, an “offer in compromise” (OIC) may be your best strategy.
It’s not for everyone, but for those that can’t fully pay off their tax debt, an OIC can be a real lifesaver.
In simple terms, an OIC is a crafted compromise that cuts down the total amount paid to the IRS—a lot. Often, it results in a payment of less than one-fourth the original debt.
It’s an out-of-court agreement, created and approved by Congress to help taxpayers, and it stops IRS collections activities. In certain situations it’s the best way to resolve a tough situation.
Call us now to see if you qualify. Whatever the case, Apex Tax Defense will help you understand your options and come up with an effective tax relief strategy.