What is an Offer in Compromise

You may have seen the commercials on the tv and where curious as to what exactly is an Offer in Compromise? If you are unable to pay your income taxes in full and an installment plan wont work, a person may be able to do an offer in compromise. An offer in compromise is looked at as a last resort option after a taxpayer has exhausted all other options. The reality is that the IRS only resolves less than one percent of all tax bills owed through this type of method. The TV commercials make it seem like you can just pick it right off the shelf and get it done. The reality is that your chances of being able to work this option out with the Internal Revenue Service is remote. Continue Reading »