Offer in Compromise
Pay Only What You Can Afford and Settle Your IRS Debt for Less!
Imagine taking a deep breath, knowing you’ve settled your tax debt for less than expected. You don’t need to hand over more than you can afford. With an Offer in Compromise, you can pay a fair amount and keep your financial goals on track.
Ready to settle and move forward? Let’s make it happen.
828-799-7826
You Could Be Among the Thousands Who Get Rejected!
In FY 2023, 30,163 taxpayers tried for an IRS settlement offer in compromise for less than an IRS Offer in Compromise. However, the IRS only accepted 12,711 of those offers, leaving over half of the applicants with their full debt still hanging over them.
Most offers get rejected—don’t let yours be one of them!
These common mistakes could cost you the chance to offer in compromise settlement:
Incomplete or Inaccurate Paperwork
A simple mistake can be enough for the IRS to reject your offer.
Unrealistic Expectations
Offering far less than what the IRS believes you can pay won’t be accepted.
Failure to Prove Financial Hardship
If you don’t clearly show why you can’t pay the full debt, your offer is as good as rejected.
Submitting an Offer to Delay Proceedings
If you’re using the offer just to stall for time, the IRS will see right through it and reject it.
Don’t risk joining the thousands who get rejected. Get expert guidance from StanLee Tax Resolutions to ensure your offer stands the best chance of success. Take action now to protect your future!
Flexible Payment Options to Settle Your Tax Debt
At StanLee Tax Resolutions, we understand that every financial situation is unique, and payment solutions must reflect that. When applying for an Offer in Compromise (OIC) with the IRS, the available payment options depend on your financial circumstances.
Here’s what you might expect:
Lump Sum Settlement
For those able to pay a portion of the proposed amount upfront, this option involves submitting 20% of your offer with your application. If the IRS accepts your offer, the remaining balance can typically be settled in five payments or fewer. This approach works best for taxpayers who want to resolve their tax debt quickly and move forward with financial peace of mind.
Periodic Payments
If a large upfront payment isn’t feasible, the IRS allows for smaller, manageable payments while your offer is under review. If approved, you’ll continue making payments until the agreed amount is settled. This option provides the flexibility to address your tax debt gradually, without the burden of a heavy initial payment.
Your IRS Debt, Your Way—Settle on Your Terms!
Whether you’re aiming for a fast resolution or need to stretch out the payments, we’re here to make it work for you. Reduce what you owe, relieve your stress, and choose the payment option that fits your life.
828-799-7826
Our Expertise Behind Successful Offers in Compromise!
Thorough Understanding of IRS Financial Guidelines
We ensure your offer meets IRS standards for allowable expenses and income, making it perfect for Schedule C small businesses and general taxpayers alike.
Accurate Asset Valuation and Income Assessment
Whether you're a business owner, a non-filer, or a general taxpayer, we accurately assess your assets and income to ensure your financial statement meets IRS expectations, reducing the chances of rejection.
Proficiency in IRS Forms and Documentation
We handle all the complex forms, including Forms 656, 433-A, and 433-B. For non-filers, we assist in catching up on past filings, ensuring your paperwork is complete and error-free, minimizing the risk of automatic rejection.
Robust Case Presentation
Our experts build a strong case for approval by clearly presenting your financial hardship. Whether you're a Schedule C filer dealing with fluctuating income or a taxpayer managing debt, we structure your offer in compromise to IRS for the best chance of success.
Even If Rejected, It’s Not the End – We Can Help You Move Forward
If the IRS turns down your IRS Offer in Compromise, it can feel like you’ve hit a dead end. But our team has helped many clients who faced rejections, only to find a way forward by carefully reassessing the situation.
Here’s what we do to give you another chance:
Thoroughly Review the IRS Rejection Letter –
We’ll analyze the reason for rejection, whether it's due to paperwork, financial calculations, or anything else the IRS flagged.
Analyze and Compare Financials –
Our team will review the IRS's financial assessment, identifying discrepancies or overlooked details that could strengthen your case.
Refine and Resubmit Your Offer –
If needed, we’ll help adjust and resubmit your offer, ensuring that it’s aligned with IRS expectations for a higher chance of approval.
Appeal the Rejection –
If you believe the rejection was unfair, we’ll take it up with the IRS appeals process, ensuring your offer gets the attention it deserves.
Sometimes, all it takes is a fresh look and a few adjustments to turn a rejection into acceptance. Even if the IRS says “no,” you still have options. Let StanLee Tax Resolutions guide you through those options and provide the Offer in Compromise help you need to move forward.
FAQs
Can I still apply for an Offer in Compromise if I haven't filed all my tax returns?
No, the IRS requires that you file all of your tax returns before they even consider an Offer in Compromise. If you’re behind on your filings, it’s important to catch up first. StanLee Tax Resolutions can help you quickly file any missing returns so that you’re eligible to submit your offer
What are the different types of Offers in Compromise?
There are three main types: doubt as to collectibility, when you can’t pay your full tax debt; doubt as to liability, when you believe you don’t owe the full amount; and effective tax, when paying in full would cause financial hardship. There’s also a hybrid option combining doubt and hardship. We can help identify which offer suits your situation and guide you through the process.
What happens if I get more tax debt while my offer is being reviewed?
If you incur more tax debt while the IRS is reviewing your offer, they may reject it. Staying current on your taxes is crucial during this time. We can assist you in staying on top of your tax obligations to ensure that your offer remains valid.
What are the national and local standards, and how do they affect my Offer in Compromise?
The national standards set guidelines for essential expenses like food and clothing, while the local standards cover housing, utilities, and transportation. The IRS uses these standards to determine what they consider reasonable living expenses for your situation. If necessary, the IRS may adjust these amounts to better suit your case. We know how to apply these standards to your advantage and make sure your offer is calculated fairly.
How long does it take for the IRS to decide on an Offer in Compromise?
It typically takes the IRS anywhere from six months to a year to decide on an Offer in Compromise. The time can vary depending on how complex your case is and how accurate your submission is. StanLee Tax Resolutions ensures everything is properly prepared and submitted to avoid delays, helping you get results faster.
What happens if my offer isn’t calculated correctly or isn’t high enough?
If your offer is too low, the IRS will calculate what they believe the correct amount should be. They’ll give you a chance to increase your offer, but if you don’t, they will likely reject it. If the IRS thinks you can pay the full debt, you may need to request an installment agreement instead. We help you calculate the right offer from the start, so you’re not left guessing.
Can I appeal if my Offer in Compromise is rejected?
Yes, you can appeal a rejected offer. The success of your appeal depends on why the offer was rejected and how well you present your case. We have a proven track record of helping clients successfully appeal rejected offers by strengthening their case and addressing any issues.
I’m self-employed and my income fluctuates. Will this affect my Offer in Compromise?
Yes, the IRS will look at your average income over time, especially if you’re self-employed. They won’t base their decision on one particularly good or bad month. We can help ensure that your fluctuating income is accurately represented in your offer, giving you the best chance of approval.
Do I need a tax professional to submit my Offer in Compromise, or can I do it myself?
While it’s possible to submit an OIC on your own, the process is complicated, and even small mistakes can lead to rejection. Working with a tax professional significantly improves your chances of success. We specialize in Offers in Compromise and ensure that your application is error-free and well-prepared.
Do I need to keep paying my installment agreement while my offer is being processed?
No, you don’t have to keep making payments on your installment agreement while your offer is under review. If your offer is rejected and you haven’t incurred any additional tax debt, the IRS will reinstate your installment agreement with no extra fees. We will guide you through the process and ensure your agreement is handled properly while your offer is reviewed.
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