Want to Settle Your IRS Debt? We do IRS Settlements (Offers in Compromise)
Generally there are two ways you can pay less than the full amount the IRS says you owe:
The Offer in Compromise
There are three kinds of IRS Settlements or Offers in Compromise:
A. Doubt as to Collectability – If you don’t have enough assets and excess income (after living expenses) to pay your tax debt in full, you may qualify for an offer in compromise based on doubt as to collectability.
If you cannot pay what you owe to the IRS, the IRS may accept less than the full amount of your outstanding tax debt in complete and final settlement.
B. Doubt as to Liability – If you have enough assets and income to pay the IRS debt in full, but believe that you do not owe the full amount, you may qualify for an offer in compromise based on doubt as to liability.
C. Effective Tax Administration – If the circumstances of your tax debt and your ability to pay it are such that a settlement would further the administration of the tax laws, you may be able to pay less than the full amount you owe. This is called an offer based on effective tax administration.
Call the Pappas Group at 407.915.3470 and let us help you settle your tax debt, or fill out our contact form
Penalty and Interest Reduction
The tax attorneys, IRS enrolled agents, and tax CPAs of The Pappas Group in Orlando have more than 50 years of experience negotiating IRS settlements for their tax clients.
IRS penalties are assessed against taxpayers for willful failure to comply with the tax laws.
If you can show that your failure to comply was not willful, but, rather due to reasonable cause, the IRS is required to reduce or eliminate IRS penalties.
If the IRS caused delays in your payment of your tax debt, then you are entitled to a reduction of IRS interest charges.
It is not a simple matter to get the IRS to accept less than the full amount of the tax, IRS penalties and interest that the taxpayer owes. If you think you might qualify for an IRS settlement, it is wise to seek the advice of an experienced tax attorney.
Call or contact us today to discuss whether or not you qualify for an IRS settlement or some other collection alternative.