Submit an Offer in Compromise and Get the Fresh Start you Need
Now that the July 15th tax date has passed, it is now time to look toward the September 15th (for businesses) and October 15th deadlines. From the time the pandemic through the extended “regular” tax season, more people have needed extra time to deal with their tax liabilities.
These liabilities are a large contributor to overall debt and can cause great financial hardship on families. This is why submitting an Offer in Compromise to settle your debt makes more sense now than ever.
What is an Offer in Compromise?
The IRS, through their offer in compromise (OIC) program allows a taxpayer to settle their tax liabilities for less than the full amount owed. This requires that the taxpayer make a lump sum payment (over a 5-month period) or pay the settlement amount over 24 months.
In order to qualify, a taxpayer must be in compliance. This means that all tax returns have been filed and that all required estimated tax payments have been made for the current quarter and the subsequent quarter.
Just getting into compliance can be an obstacle for many taxpayers. That is why it makes sense to work with a firm that not only can resolve your tax problems but also prepares tax returns. The Tax Resolution Institute team headquartered in the Greater Los Angeles Area has been doing both for more than 30 years.
Tax Resolution Services
With many of us having more time on our hands, now is the perfect time to solve your tax problems. Let us take care of the hard stuff so you can get your mind straight and plan for the future.
Our experts work with businesses and individual to solve even the most complex tax problems. Our years of experience ensure that you will get the best results possible
Tax Resolution is just a call or click away
If you have any questions about an offer in compromise or any other tax issue for that matter, do not hesitate to contact the Tax Resolution Institute to see if we can help. Considering we will let you know if we can help for no cost, there is no reason to wait.