Tax Settlements & Offer In Compromise
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The liability and responsibility of paying back tax debts can be overwhelming and intimidating for any individual or business. Figuring out ways to pay back taxes can be confusing or hard to understand. Having an attorney to help you through the process may help you understand your options better.
Our experienced tax settlement attorneys at Eaker Peréz Law are well versed in offer in compromise cases. We are dedicated to serving our clients and adding maximum value to their business and individual wealth. If you need help with your tax settlements, don’t wait too long to contact us.
Tax Settlement Options for Unpaid Taxes
At Eaker Peréz, we work with clients to identify the best options for getting rid of IRS tax debts, which can include tax settlements. Tax settlements may include offer in compromise as a way to get rid of tax debts.
We work with clients to identify if the option of using a tax settlement is the right choice and if it will help to protect their assets and maximize their business value.
Usually tax settlements are best used in situations where the tax debt arose from a situation where the taxes couldn’t be paid because of a reasonable cause. A settlement with the IRS can allow you to pay less than the amount you owe—and save you thousands of dollars in penalties and interest as well.
Contact Eaker Peréz Law today to speak with an experienced tax settlement attorney.
Experienced Tax Settlement Attorneys Fighting for Client Prosperity
What is an offer in compromise?
If you owe the IRS or are behind on taxes, you may be able to pay less than what you owe through a negotiation process called offer in compromise. An offer in compromise, or OIC, is an agreement between a taxpayer and the IRS that settles a taxpayer’s tax liabilities for less than the full amount owed.
Not everyone qualifies for an OIC and there is a specific process the IRS requires individuals to use to negotiate tax debts. The requirements of proving you qualify for an OIC are extensive and an experienced attorney may be able to make an OIC more successful.
At Eaker Peréz Law, we work with clients to use offer in compromise to negotiate tax settlements with the IRS as one method to helping our clients protect their prosperity and avoid crippling tax debts, tax liens, and criminal tax charges.
Do I qualify for Offer in Compromise?
Working with an experienced attorney may help you determine if you qualify for an offer in compromise and if this is the best strategy for your unique tax matter. At Eaker Peréz, we advise our clients on the best strategies to absolve tax debts through negotiations and qualified offer in compromise strategies.
We help clients identify the factors that the IRS uses for offer in compromise eligibility, including:
- Ability to pay
- Income
- Expenses
- Asset equity
- All previous tax returns are correctly filed
- All estimated tax payments for the year are made
- Business owners with employees have made all required federal tax deposits for the current quarter
Additional qualifications may depend on the individual scenario. A qualified attorney may be able to help you determine your eligibility. You don’t have to do it alone. Eaker Peréz may be able to fight for your case regardless of the situation. We may be able to help you find a solution.
As part of our tax settlement cases, we work closely with clients to help guide them through the process and deal with the IRS directly on their behalf to get the best settlements possible for our clients.
Contact Eaker Peréz Law today to speak with an experienced tax settlement attorney about your unique tax situation.