Veltre Tax & Payroll Service
Ralph V. Veltre, E.A.
Melinda Eiben, E.A.
OFFERS IN COMPROMISE
An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can't pay your full tax liability, or doing so creates a financial hardship. The IRS will consider your unique set of facts and circumstances. Because not everyone can qualify for this relief provision, our first step would be a free, no obligation consultation wherein we would thoroughly review your financial situation and your IRS account. If, after the review we do not think the IRS will accept an Offer in Compromise, we will give you some alternative options that may produce savings on your tax debt. If, however, we believe your case has merit, we will begin the process.
At this point, there will be a charge of approximately 1.5% - 2% of the total amount owed to the IRS, with a minimum of $500, to cover the preparation of the extensive paperwork required. While we have successfully negotiated settlements, there are no guarantees - beware of companies who promise the IRS will settle for "pennies on the dollar." If our efforts do not ultimately result in a reduced tax liability for you, there would be no additional charge from us. However, if we do succeed in achieving a reduction in your tax liability, our charge will be 20% of that total reduction, less the initial fee.