Tag: IRS Offer in Compromise

7 IRS Offer In Compromise Tips You Must Follow to Avoid Rejection

IRS offer in compromise with Nick Nemeth

IRS offer in compromise is  a great opportunity for taxpayers to start afresh as it helps them get rid of their tax debt. The idea is to give taxpayers some sort of relief if they owe any taxes, interests or penalties that they cannot pay off because of lack of income or assets. However, when applying to the IRS for an Offer In Compromise (OIC) you got to avoid some pitfalls that might lead to rejection. Having said that, in this blog post we discuss 7 IRS Offer In Compromise tips that you must follow to avoid rejection. 1. Do

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7 Most Frequently Asked Questions on Offer in Compromise

Questions on Offer in Compromise with Nick Nemeth

An Offer in Compromise (OIC) is one of the tax settlement methods offered by the IRS to its taxpayers, to help them settle their taxes for less than what they actually owe. The IRS, however, accepts an OIC only when it is fully convinced that the defaulter cannot pay the due taxes in full, not even through a relaxed deferred tax payment plan. Understanding OIC and its intricacies is not easy for a common man, and therefore, most taxpayers have several questions to ask. In this post, we discuss some of the most frequently asked questions and their answers. Let’s

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Step-By-Step Guide to Filing for IRS Offer in Compromise

IRS Offer in Compromise by Law Offices of Nick Nemeth

According to a latest estimate from the IRS, the government loses around $458 billion dollars in unpaid taxes every year. Many delinquent taxpayers who owe the IRS huge amounts in unpaid taxes, whether individuals or corporations, are not always in a sound financial condition. Apart from using tax enforcement efforts such as audits to recover the money, the IRS also helps delinquent taxpayers mitigate financial hardships through programs such as the Offer in Compromise. The IRS Offer in Compromise is basically an agreement between the taxpayer and IRS to settle outstanding debts in exchange for an amount that is lower

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