Florida & IRS Offers In Compromise Attorney
Offers in Compromise can be the Solution to a Tax Bill You Cannot or Should Not Pay
Negotiating an offer in compromise can be an effective way to lessen a tax liability demanded by the IRS. With over 40 years of experience handling tax matters, attorney and CPA Ronald Cutler can help by representing you in negotiating an offer in compromise with the IRS. We serve clients in Daytona Beach, Orlando, Jacksonville, Tampa and Miami, and across the state of Florida and beyond. Call 386-490-9949 for a free consultation.
What is an Offer in Compromise?
An offer in compromise means that you offer to pay the IRS a certain amount which is less than the amount of tax they say you owe. If accepted, the amount you pay is treated as payment in full in satisfaction of the tax debt. In addition to settling your tax debt for less than the full amount, another attractive feature of the Offer in Compromise is that the IRS will suspend collection activity while the negotiation of an Offer in Compromise is underway, including implementing wage garnishments, tax liens and tax levies.
When is an Offer in Compromise available?
There are several circumstances which may exist that would lead the IRS to consider an Offer in Compromise as settlement of a tax debt. In general, these circumstances are:
- You have a legitimate dispute with the IRS over the liability, such as the amount of the tax or whether you owe any tax at all
- There is a legitimate doubt about whether you as the taxpayer would be able to pay the full amount of the tax
- Collection of the tax would be unfair or cause an undue hardship on the taxpayer, or accepting a settlement would further the efficient administration of the nation’s tax laws
How much can I save with an Offer in Compromise?
The amount which you would offer is based on an IRS formula. This formula is complicated and involves many factors. We can obtain the necessary information from you and your spouse (if applicable) to determine what the amount of the offer would be.
Is there any downside to an Offer in Compromise?
If the offer is accepted, you must have the cash available to provide a lump sum payment to settle the debt, and this may be difficult to do depending upon the size of the offer. Another option for those who can’t afford that lump sum payment may be an installment agreement, which is also an alternative that Ronald Cutler, P.A. can help you with.
Call Ronald Cutler for a Free Consultation about Your IRS Tax Problem
To find out whether an Offer in Compromise is right for you, or to get started on achieving a satisfactory resolution of your tax bill, contact Ronald Cutler, P.A. at 386-490-9949.