You owe the IRS. You can’t afford to pay the IRS. You’re in a bind.

The good news is you may qualify for the Offer in Compromise program through the IRS. What is an Offer in Compromise?
An Offer in Compromise is an agreement between the taxpayer and the IRS that resolves the taxpayer’s debt for less than what is actually owed. Yes, the IRS does have the authority to “compromise” or settle tax liabilities, under certain financial circumstances. The most common circumstance is when it is unlikely the taxpayer will ever be able to pay the liability in full, and the amount offered reflects what the taxpayer can realistically pay.

The Offer in Compromise is a win-win situation for all involved – the taxpayer and the IRS. The taxpayer can finally breathe a sigh of relief knowing their tax debt has been taken care of. The IRS can find relief in knowing, in more cases than not, they collected more on the debt with an Offer in Compromise than they would have without it. Also, the taxpayer is more likely to stay in compliance when it comes to filing and paying future taxes as part of the condition of the Offer in Compromise agreement.

In fact, according to the Taxpayer Advocate Service 2007 Annual Report to Congress, Volume 1, page 375 -  the IRS collected 17 cents for every $1 owed through accepted Offers in Compromise in fiscal year 2007. The report also shows the IRS collected only 13 cents for every $1 owed on two-year-old debts and virtually nothing on debts three or more years old.

At JK Harris and Company, we never advise any taxpayer to deal with the IRS themselves. JK Harris has an experienced tax team to help negotiate an Offer in Compromise for taxpayers that qualify for the program.

The Offer in Compromise program is very complex and time-consuming, sometimes taking as little as six months and other times as much as two years. But when you hire JK Harris, you can be comforted in knowing that our Tax Team has years of experience dealing with the IRS. Results are not the same for all taxpayers, but you can be assured that you can face the IRS with confidence when you have our Tax Team on your side. More than 250,000 taxpayers have come to JK Harris with IRS problems. Give us a call today and take the first step towards getting peace of mind.

Did you know...?

Did you know there are three ways for a levy to end? If you get the levy released, pay your tax debt or the time legally expires for the IRS to collect the tax, the levy will end.

What JK Harris clients
are saying...

JK Harris provided us with peace of mind. Our lives were totally destroyed financially. We took care of my husband's mother until she passed away. We were trying to get on track when my husband went into heart failure and nearly died. My husband spent 30 days in intensive care, after...

Loretta & Harry Z. May, 2010