Did you know that you can settle your debt with the IRS for
just pennies on the dollar with their Offer in Compromise program?
The program allows taxpayers to settle with the IRS on tax debt
that has been incorrectly assessed or for liabilities they cannot
afford to pay.
The IRS Code states: "We will accept an Offer in Compromise
when it is unlikely that we can collect the full amount owed
and the amount you offer reasonably reflects the collection
potential..." (Internal Revenue Code section 7122).
Often it is possible to fully and completely eliminate the
taxes you owe - including all penalties and interest - at
an enormous discount. There is no preset bottom limit that
the IRS will accept to settle your debt especially if your
offer is done "right."
If done correctly your debt may be settled for only 5-15%
of what you presently owe. The key is to determine the least
amount that the IRS will accept from you before you make the
offer.
