Are you in the status of facing financial hardship? Is it because of failure to pay back full-tax liability? An offer in compromise attorney settles tax debt less than the full amount owed.

 What is an offer in compromise?

An Offer in Compromise (OIC) is a program offered by the Internal Revenue Service (IRS) to help taxpayers unable to pay their full-tax liabilities. It is a formal agreement (between the taxpayer and the IRS) that allows the taxpayer to recompense their tax debt for less than the full amount owed. It can provide relief to people and businesses facing financial hardship or other exceptional circumstances.

How does an OIC lawyer help?

An Offer in Compromise (OIC) lawyer can be instrumental in helping taxpayers navigate the complex process of negotiating with the Internal Revenue Service (IRS) to settle tax debts for less than the full amount owed. Here is how an OIC lawyer can legally assist:

• Assessing eligibility. OIC lawyers can evaluate your financial situation and determine whether you meet the IRS eligibility criteria for an Offer in Compromise. They can help you understand if pursuing an OIC is the right option based on your unique circumstances.
• Prepare the application. OIC applications require extensive financial documentation and specific forms to be completed accurately. An OIC lawyer can help you gather all necessary financial records and complete the application correctly to maximize your chances of approval.
• Negotiate with the IRS. OIC lawyers are experienced in negotiating with the IRS on behalf of their clients. They can communicate with IRS agents, present the case persuasively, and advocate for a fair and reasonable settlement amount.
• Maximizing the offer amount. Lawyers with expertise in tax law can help you determine the most favorable offer amount that is both reasonable for you and acceptable to the IRS. They can use their knowledge of tax laws and IRS guidelines to create a strong argument for a lower settlement.
• Handle appeals. If your initial OIC application is rejected, an OIC lawyer can guide you through the appeals process.
• Protecting rights. Your lawyer can ensure that your rights are protected throughout the OIC process. They will ensure you are treated fairly and that the IRS follows the appropriate procedures.

OIC lawyers are well-versed in tax law and updated with the latest regulations and guidelines, ensuring you have the best legal advice available.

While hiring an offer in-compromise attorney can be beneficial because it has an experience in tax law and a proven track record of successfully negotiating OICs.