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An offer in compromise is an agreement with the IRS whereby a taxpayer is able to settle their tax debt for less than the full amount of the debt owed.

How is an offer in compromise calculated?  Your offer is calculated based upon your equity in assets and disposable income.

How long does the IRS to make a determination regarding my offer in compromise?  Generally, the IRS will take anywhere from 4-12 months to make the initial determination on your offer.  You also have appeal rights if the offer in compromise unit rejects your offer.

Where do I submit my offer in compromise?  You will initially submit your offer to one of two offer in compromise units, which are in Memphis, TN and Holtsville, NY.

A Denver tax attorney at The McGuire Law Firm can prepare, submit and negotiate an offer in compromise with the IRS if your financial circumstances allow.  All potential clients receive a free consultation!  Contact The McGuire Law Firm today!


Offices in Denver and Golden Colorado!  Speak with a Denver tax attorney to discuss your options and ability to settle your IRS tax debt with an offer in compromise.

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