Why Hire a Professional to File an Offer in Compromise

Hiring a professional is a good way to take care of any tax related debt. This is definitely true if you want to file an Offer In Compromise (OIC) as typically 90% of OICs are rejected. There are many professionals who are more than willing to help you during this difficult time in your life. An Offer In Compromise is more than telling the IRS what you will pay, and then sending a check for that amount. There is a lot that goes into the process, including paperwork, correspondence with the IRS, and much more. As you can see, hiring a professional can help to cut back on the amount of work you have and increase your chances of success.

The main goal of an Offer In Compromise is for it to be beneficial to both parties. In other words, the taxpayer gets to pay his debt for less than the total amount and the IRS gets to receive more money than they would through forced collection. If both parties benefit it is deemed a success. So think again if you have hopes of pulling a fast one.

You have every right to submit an OIC and see what the IRS says so long as you meet the long list of qualifications. But remember, they have every right to tell you no and force you to find a different method for paying your debt. It may sound like a great idea, but the IRS only accepts approximately 10 to 15 percent of the offers that they receive. This should show you that the numbers are not in your favor.

At the very least, hiring a professional gives you the best chance of having your offer accepted. They know what the IRS is looking for, what to include, what the qualifications are, what documentation is needed, and how to prepare the paperwork. It is safe to say that these are all areas in which you lack knowledge.

If you are interested in filing an Offer In Compromise and settling your tax debt for pennies on the dollar, you will probably want to contact a professional. Hiring a tax professional to file an OIC is an idea that anybody in this position should consider because the process is complex.

Help With An Offer In Compromise
Stop by BackTaxesHelp.com today for more self help OIC information including the ability to request a free quote for OIC help from a trusted tax resolution firm.