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Offer In Compromise

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We Can Negotiate Your IRS Offer in Compromise Settlement

The Tax Professionals at Anderson Bradshaw Provide Offer in Compromise Help and Tax Resolution Services Across All 50 States.

Anderson Bradshaw Can Help You Get the Best OIC Deal Possible

Our IRS and tax experts have been negotiating Offers in Compromise settlements for years. Call our trusted team today to find out whether one of our OIC help plans could be the right solution for you.

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Offer in Compromise

The Offer in Compromise program was set up by the Internal Revenue Service. It is a way of asking the IRS to accept less than the full amount you owe in taxes, interest, and penalties. This out-of-court agreement settles your back taxes, prevents the IRS from pursuing you further, and stops them from taking any of your assets or wages.

Even though you can apply on your own, lots of people make mistakes and the IRS estimates that it returns 75 percent of offers because the forms weren’t completed correctly. This is one of the reasons it’s essential to work with an OIC tax professional or consultant.

What Is an Offer in Compromise (OIC)?

The IRS runs an initiative called an Offer in Compromise (OIC) that allows taxpayers with back taxes to resolve their debts for a single payment that is less than the total amount outstanding.
With an OIC, you can:

  • Pay in installments
  • Make a lump-sum offer
  • Prevent further IRS action
  • Negotiate a lower settlement figure

Eligibility and Negotiating an OIC

Whether you’re eligible for OIC help depends on your income, any assets you own, your liabilities, and potential future income. Current IRS rules permit you to pay the agreed amount in installments over a period of up to two years.

Negotiating an OIC can be a time-consuming process that often takes between six months to a year or longer. If the IRS doesn’t agree or reject the Offer in Compromise outright within two years, it is automatically accepted.

OIC Payments and Conditions

While the Offer in Compromise is being processed, the IRS won’t ask you to make payments on back taxes, but you will have to pay all your other taxes when they fall due. If you don’t make these payments, the IRS can reject your Offer in Compromise and you will have no right of appeal. Also, the IRS puts any deposit paid toward your back taxes, and if you want to make a new Offer in Compromise, you’ll have to pay another deposit.

Once the IRS agrees an OIC, you need to submit and pay all your taxes on time for the next five years. If you breach any of the conditions of your OIC, the IRS has the right to take immediate action against you to collect the full amount of any outstanding debt. This will include interest and fines, although payments already made under the terms of the OIC are deducted.

Rescinding an OIC and Public Records

The IRS can rescind an OIC if it discovers that you lied about or hid assets. When the IRS agrees an OIC, the local office will keep records of the taxes owed and the amount that was agreed. This record will be open to the public for one year.

OIC Review and Acceptance

When you file an OIC, the IRS has an extra year to collect the taxes you owe, in addition to the time it takes to review your OIC. Interest and penalties will continue to be added to any outstanding balance until such time as your Offer in Compromise is accepted.

The IRS will keep any refunds you are due for tax years before the end of the year in which the OIC is accepted. If you agree to the Offer in Compromise, you no longer have the right to question whether the tax amount stated is correct for any of the years concerned.

The IRS is not obliged to accept an OIC and could ask you to sign a collateral agreement as a condition of acceptance. Under this agreement, you are expected to pay a portion of your future income toward paying off the rest of the debt. However, the sum of these payments can never be more than the amount you owe.

Why Partner
with Anderson Bradshaw?

Here are some of the reasons why working with our expert tax team is a great idea.

OIC Tax Services

We know how to get you safely through the confusing labyrinth of IRS and state tax regulations. Our experts have helped clients to negotiate excellent Offer in Compromise settlements hundreds of times and our OIC specialists understand just what it takes to get you the best deal.

We Work for You, Not the Government

We are there to safeguard you and your family, and we will do everything in our power to protect your interests.

Our Experience Speaks Volumes

We’ve been in business for more than 30 years, so we know how complicated tax legislation and government tax rules can be. Our IRS tax consultants understand how the system works, which means we get first-class results for our clients every time.

  • Pay in installments
  • Make a lump-sum offer
  • Prevent further IRS action
  • Negotiate a lower settlement figure

Tax Resolution Process

The sooner you get in touch, the quicker we can help you to resolve your tax problems.

One: The Consultation

We start with a consultation to figure out what’s going on with you and your taxes. During the meeting, we’ll talk about your employment or business, your personal circumstances, and your finances. We’ll also start to think about the best way for you to maintain your current lifestyle while fulfilling your legal obligations.

Two: The Right Solution

When it comes to taxes, every client’s life and circumstances are different. Our skilled team knows how to resolve your problems with back taxes, and we’re dedicated to finding the best solution for you, not the IRS.

Three: An Exceptional Outcome

Our trusted tax experts will do everything they can to get you the right deal and to make the IRS less of a threat to you and your assets.

Call Now
To Book a Free OIC Consultation

Call 877.986.1156 to speak with our friendly team right now and find out if our IRS Offer in Compromise help is right for your situation.

Call Anderson Bradshaw Now