OFFER IN COMPROMISE

Settle Your Tax Debt for Less with the IRS Offer in Compromise Program
Expert Guidance from LVP Accounting & Taxes

If you’re struggling with tax debt and can’t afford to pay the full amount, the IRS Offer in Compromise (OIC) program may be the solution. At LVP Accounting & Taxes, we help individuals and businesses navigate the complexities of the OIC process and increase their chances of acceptance.

An Offer in Compromise is an agreement between you and the IRS that allows you to settle your tax liabilities for less than the full amount you owe. It’s a legitimate option if paying your full tax debt would cause financial hardship.

To qualify for an Offer in Compromise, you must meet several criteria:

• Inability to Pay in Full: You must demonstrate that you are unable to pay your tax debt in full through income, assets, or other means.
   
• Current with Filings: All required tax returns must be filed. If you’re self-employed, you must have estimated payments up to date.
   
• No Open Bankruptcy: You are not eligible if you are currently in an open bankruptcy proceeding.
   
• Compliance with Tax Laws: You must be in compliance with all current tax requirements.
   
• Reasonable Collection Potential (RCP): The IRS evaluates your income, assets, and expenses to determine what they could realistically collect.
   

1. Doubt as to Collectibility – You cannot afford to pay the full amount.
    
2. Doubt as to Liability – There is legitimate doubt that you owe the tax.
    
3. Effective Tax Administration – You can pay, but doing so would create an economic hardship or be unfair.
    

At LVP Accounting & Taxes, we take a comprehensive look at your financial situation to determine if the OIC program is right for you. We prepare and submit the required forms, ensure compliance with IRS standards, and negotiate directly with the IRS on your behalf.

We’ve helped many clients successfully reduce their tax debt and gain peace of mind. Don’t face the IRS alone—let our experienced team help you find a manageable resolution.

Contact LVP Accounting & Taxes today for a confidential consultation.