Offers in Compromise

Are you overwhelmed by federal tax debt? An offer in compromise could be an option if you don’t think you’ll ever be able to fully pay off your tax bills. Rue & Associates can help you settle your tax debt for less than your current balance if it seems unlikely you’ll be able to pay it.

An offer in compromise is a settlement that can be petitioned with the IRS providing that all of your backdated tax returns have been filed. You can settle for less than the full amount that you owe if it’s doubtful that you will have the income and assets in the long run to sustain a payment plan. If you have explored other payment options for your back taxes and they are not working out for you, an offer in compromise may provide the financial relief that you are looking for.

Preparing an offer in compromise is a long and tenuous process that requires a great deal of communication with the IRS as well as thorough documentation of your current, past, and projected financial situation. The tax law experts at Rue & Associates are experienced with the offer in compromise process, eligibility requirements, settlement negotiation, and appeals. We will work with you to the best of our ability to settle your tax debt.

Please be advised that offers in compromise are not available to all taxpayers, including taxpayers who have open bankruptcy proceedings. Business taxpayers unable to meet federal tax obligations may file for an offer in compromise under a different set of regulations than individuals. If your offer is approved by the IRS, you can pay your offer in a lump sum or opt for periodic payments.

Rue & Associates will fight for your rights as well if your offer in compromise is denied and needs to be appealed.  You can count on us for quality representation in tax debt resolution and have more than just a settlement on your back taxes: you’ll also have peace of mind.