Offer In Compromise (OIC)

What is an Offer in Compromise?

An Offer in Compromise (OIC) is a program that allows you to settle your tax debt for less than the full amount owed if you cannot pay the full amount. The IRS considers your ability to pay, income, expenses, and asset equity to determine if a reduced settlement is appropriate. This program is designed to help taxpayers who are struggling to pay their tax debt in full and need a feasible solution to their financial burden.

How Does OIC Work?

The IRS evaluates your financial situation comprehensively to determine if you qualify for an OIC. Factors such as your income, expenses, asset equity, and ability to pay are taken into account. If it is determined that you cannot pay the full amount owed, the IRS may accept a lower amount as a settlement. This process requires careful preparation and submission of detailed financial information to prove your inability to pay the full debt.

Our OIC Services

At Advance Tax Relief, we specialize in helping clients navigate the OIC process. Our services include:

• Eligibility Evaluation: We conduct a thorough evaluation of your financial situation to determine if you qualify for an OIC.
• Application Preparation: We prepare and submit the OIC application on your behalf, ensuring all required information is accurate and complete.
• Negotiation with the IRS: Our experienced professionals negotiate with the IRS to secure the best possible settlement for your tax debt.
• Ongoing Support and Compliance: We provide ongoing support to ensure you remain compliant with the terms of the OIC and avoid future tax issues.

Real-Life Example

James owed $80,000 in back taxes and was overwhelmed by the amount. We conducted a detailed evaluation of his financial situation and determined he was a suitable candidate for an OIC. We prepared and submitted his application, and the IRS agreed to settle his debt for $20,000, which James paid over 24 months. This significant reduction allowed James to regain financial stability and focus on his future.

Why Choose Us?

Choosing Advance Tax Relief for your OIC needs provides several advantages:

• Expertise in OIC Applications: Our team has extensive experience and a high success rate in securing OIC settlements.
• Personalized Support: We provide personalized support throughout the OIC process, ensuring your application is handled with care.
• Comprehensive Financial Analysis: We conduct thorough financial analysis to strengthen your application and improve your chances of success.
• Dedicated Client Service: Our commitment to client satisfaction means we are always available to answer your questions and provide guidance.

Take the first step towards financial freedom. Contact Advance Tax Relief at 713-300-3965 to see if you qualify for an Offer in Compromise. Our experts are ready to help you settle your tax debt for less than the full amount owed. Visit the IRS Offer in Compromise page for more information.

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