Offer in Compromise – Taxing Thoughts

Settling Tax Liabilities for Less than the Full Amount (the Offer In Compromise).

The Internal Revenue Code provides that a tax liability can be resolved for less than the full amount of the total debt. Sometimes, the tax debt can be resolved for a fraction of the total. This procedure is known as an Offer in Compromise. In the right circumstances, an Offer in Compromise can be usedContinue reading “Settling Tax Liabilities for Less than the Full Amount (the Offer In Compromise).”