Qualifying for an OIC

How do I know if I qualify?

Before you can file an Offer in Compromise, all due tax returns must be filed. There is simply no way to assess how much to offer if we do not know how much you really owe. The IRS may assess what you owe, even if you do not file. However, when the IRS assesses taxes for un-filed years, they do not take into consideration any deductions or other tax breaks you may be eligible for.

Second, you must not currently be in a bankruptcy proceeding.

The third requirement is for business owners with employees, including self-employed individuals. Simply put, your federal tax deposits must be made on time for the previous two quarters.

If you do not meet the above criteria, we may be able to bring you closer to qualification status. For example, the most common cause for not qualifying is un-filed tax returns. We will bring you closer to qualifying status by preparing and filing un-filed tax returns. We can even get your tax account information from the IRS in the process to assess what they believe you owe and why.

Even if you do not qualify for an Offer in Compromise, there are other resolution options FSI Tax Corp can help you utilize. Installment agreement, penalty abatement, interest abatement, innocent spouse relief, levy release and injured spouse relief are some other services we provide.

The bottom line is that we need to talk before we can make any kind of determination about your tax situation. Fill out our contact form today and a tax professional will contact you to discuss your specific situation. He or she will explain your options and answer your questions.

Reduce tax liability, tax debt liability reduce, tax negotiation and reduce tax with IRS garnishment

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