TEL: 631-398-0848
OFFER IN COMPROMISE (OIC)
About
First Understand The Basics
Make no mistake; the IRS will certainly attempt to collect the full value of the debt you owe. However, they do have a rational understanding that hardships may occur. Consequently, a large tax debt is often insurmountable for some taxpayers.
First, the IRS attempts to achieve a lump-sum payment or reasonable installment agreement to settle the debt. If they can achieve that, that won’t consider the taxpayer’s offer in compromise. Instead, they’ll require full payment. For this reason, taxpayers should take extra caution in their communications with the IRS. The IRS will not hesitate to use your statements for further attempts to collect the whole debt amount.
Our Mission
In order to get you a huge tax relief from Tax Dept. However, we invite you to get to know us better and learn more about your case. For that reason, we offer a free consultation with no risk or obligation to hire our firm. We’ll discuss the details of your case and your options, as well as answer your questions. We’ll also discuss our services and how we can help you.
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Not only will we communicate and negotiate with the IRS on your behalf, but we’ll complete the appropriate forms and submit them for approval. Our 5 Star rating with no complaints can put you at ease.
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What’s more, we have no complaints with the IRS nor the Board of Accountancy. Our clients sleep better at night knowing that We-Tax-Care is protecting them from further tax collection efforts. We’d like to extend the same reassurance to you.
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Give us a call today at 631-398-0848.
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We’re available to take your call in the evenings and on the weekends, in addition to standard business hours, for your convenience. Finally, if you prefer that we reach out to you, that’s fine too! Just submit your contact information in the blue box on the right side of this screen. We will be happy to reach out to you.
Vision
Our vision is to not only provide Tax Relief, but to be a friend to our customers. We will provide a sense of long-term comfort and security in their financial lives specially in the current situation due to COVID 19,
by providing a great methodology to resolve
your tax issues.”
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When Offers in Compromise are Accepted
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The IRS may accept an offer in compromise based on Doubt as to Collectability, Doubt as to Liability and Effective Tax Administration.
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Doubt as to Collectability
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Doubt as to Collectability indicates that the taxpayer can’t pay their tax debt on their own within a reasonable amount of time. In other words, the IRS concludes that the taxpayer will likely never overcome their tax debt. Therefore, they’re open to an appropriate offer in compromise.
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Doubt as to Liability
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Doubt as to Liability indicates that the assessed tax debt was likely in error by an IRS agent. For example, a transposed number in data entry may cause an error in assigning liability. Obviously, the IRS won’t hold the taxpayer responsible for a mistake made by one of their agents. However, it does need to be addressed. The most appropriate avenue for doing this is through an offer in compromise.
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Effective Tax Administration
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Effective Tax Administration allows an offer in compromise, even if the tax assessment is correct and collection of the full amount is possible. In Effective Tax Administration cases, the taxpayer must show the IRS that paying the debt would create an economic hardship or would be unfair and inequitable.