Can you just call and settle with the IRS? That question is raised frequently. Unfortunately, you cannot. To settle with the IRS, you can qualify for the IRS offer in compromise program.
The Columbus Ohio tax attorney at Porter Law Office, LLC specializes in helping taxpayers with resolving tax debts through the offer in compromise program. An approved offer allows you to settle your federal tax debt with the IRS for less than the full amount you owe.
How to Settle with the IRS
Common question from clients. I owe the IRS $32,000. I’d like to hire you to contact the IRS and see if the will accept $9,000 to settle the IRS debt. Can’t you just call the IRS and work out a negotiation?
The answer to this question is resoundingly no. There is simply no mechanism within the IRS agency to negotiate a settlement. The IRS has established procedures called collection alternatives, which allow you to offer something less than full payment. For example, you can enter into an installment agreement. You can be placed in not collectible status. Or, relevant to this discussion, you can enter into an offer in compromise.
As a result, you can settle your tax debt by reviewing your eligibility for the offer in compromise. The IRS makes it very easy to understand if you qualify. Go to IRS.gov and anonymously use the OIC pre-qualifier tool. If you are eligible, then you are on your to settling your tax debt.
What to Offer?
To know your offer, you need to do some math. Your offer is your reasonable collection potential. It’s not arbitrary. The best way to calculate the RCP is to work through the IRS’s internal procedures. The Internal Revenue Manual is the place to go. I.R.M. 5.8.4. Or you can seek legal advice.
Our firm is experienced in securing offers in compromise for our clients. Accordingly, we will help you determine your RCP. We work with the offer specialist to ensure the IRS values your assets corrects. Your counsel is your advocate. In the tax area, that means zealously representation before the IRS.
Contact an Experienced Ohio Tax Attorney
Settle with the IRS | Columbus Ohio Tax Lawyer
If you owe the IRS a tax debt, contact the experienced tax lawyer at Porter Law Office, LLC to discuss your eligibility under the IRS’s offer in compromise program. By analyzing your RCP, our firm will be able to determine your eligibility for an IRS collection alternative, including an offer in compromise. Contact the experienced Columbus, Ohio tax lawyer at Porter Law Office, LLC today for a free consultation to discuss your particular IRS tax needs and options to file for an offer in compromise.