IRS FRESH START INITIATIVE
A well prepared Offer in Compromise will convince the government that it is in its best interest to accept the offer you are making. The terms of your offer as well as the amount offered will be "right on the money."
The best way for the IRS to handle their increased case load due to the dire economy is to encourage taxpayers who owe back taxes to offer lump-sum settlements (or short-term payoffs) of their liabilities.
- Do you have little or no equity (the fair market value of the asset less encumbrances) in your assets? Assets includes Real Estate, IRAs, 401k plans and other retirement accounts.
- Do you have little or no income left over at the end of the month after you pay your current taxes and your necessary living expenses?
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