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Offer in Compromise

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Our experts will assess if you qualify for the IRS to accept less than what you owe them. An Offer in Compromise is an agreement between you the tax payer and the IRS to settle your tax liability for less than the original balance owed. If you are an individual or business taxpayer that does not have the income, assets, or means to pay your tax liability now or in the foreseeable future, you may be a candidate.

An Offer in Compromise can be accomplished with the Internal Revenue Service, Franchise Tax Board, and Board of Equalization. Generally, an OIC is approved when the amount offered represents the most they can expect to collect within a reasonable period of time generally in 5 to 7 years.

Elias Arteaga

Taxpayers may choose to pay their Offer In Compromise in one of three payment options:

  1. Lump Sum Cash Offer – This method is payable in non-refundable installments, the offer amount must be paid in five or fewer installments upon written notice of acceptance.

  2. Short Term Periodic Payment Offer – Payable in non-refundable installments; the offer amount must be paid within 24 months of the date the IRS received the offer. Regular payments must be made during the offer investigation.

  3. Deferred Periodic Payment Offer – Payable in non-refundable installments; the offer amount must be paid over the remaining statutory period for collecting the tax. Regular payments must be made during the investigation.

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