An Offer in Compromise (commonly referred to as the Fresh Start Program) is an agreement between you and the IRS to settle your taxes for less than what you owe. They are available to help those who meet very in-depth eligibility of requirements. One minor mistake made in answering just one question in the application can be grounds for denial. It is not a quick process as it can take 3 – 6 weeks for the IRS to decide if the offer is even worthy of being processed. If the decision is made to move forward, it could take 6 – 8 months and up to 2 years to complete the process.
It’s incredibly important that you work with a company who can avoid those mistakes and maximize your eligibility for the program. As a safety protocol, Practical Tax Solutions has designed and will run a full Offer in Compromise simulation on your case, before we submit anything to the IRS.
That way, all parties are guaranteed to know exactly what kind of offer will be achieved before jumping into anything.
We are also a proud national leader in the field of IRS tax resolution. If you have an existing tax liability issue; Our job is to legally enforce the rights you have as an American and resolve your tax liability to the most favorable outcome, that’s allowable by law.