Offer in Compromise program

IRS Policy Regarding an Offer In Compromise

Section 7122 of the IRS Code states, “We will accept an Offer In Compromise OIC when it is unlikely that we can collect the full amount owed and the amount you offer reasonably reflects the collection potential. Our goal is to collect what we can at the earliest possible time with the least cost to the government.”

Under the law, the Internal Revenue Service has designed the OIC program to get as much money as possible from you in any settlement. Since that is their job, don’t think for a second they will be nice guys and give you the information that will help you settle for the least amount possible. They have a fiduciary responsibility and the legal right to collect as much as they can from you. Therefore they’re not going to disclose the details of how you might settle with them for an amount that favors you.

The key to successful settlements is knowing how the Internal Revenue Service evaluates “Collection Potential”. This takes specific knowledge of the law and the IRS; its policies, procedures, formulas, standards and documentation requirements. As you can see, a taxpayer is well advised to seek professional assistance if they are serious about having their “Offer” accepted.

Email for more information or call: 800-227-7474

Explanation of Fees
By now you probably have contacted other firms and discovered that fees can range from $1500 to over $4000. Why do some charge so much? How can NTN charge so little? It can be a bit confusing but the answer is simple:

Many CPA’s, Attorneys and Enrolled Agents with commissioned Telemarketers and Salesmen on their payrolls, charge those high fees under the “DISGUISE” of representing you during the Offer process. Representation is necessary “ONLY” when the IRS is about to seize your home or business (Very rare). Otherwise representation simply means this: Eventually the IRS will request this high priced firm to send them proof of your Offer information, of course they can’t until you first send it to them so they can forward it to the IRS.  Our Clients Never meet with the IRS they simply mail that proof directly to the IRS themselves. Should you pay $1000’s more to have someone forward your paperwork? Of Course Not!

The IRS has had an Offer in Compromise program for many years. About 70% of applicants are rejected. The main reason or rejection is improperly filled out forms. The waiting period
for approval is about 6 months depending on their workload at the time of submission. If you don’t want to waste 6 months have it professionally prepared by a OIC firm with very high references.

when hiring an offer in compromise company be sure to verify their references….a must. do not believe what some telemarketer or salesperson tells you on the phone.