IRS Tax Relief Attorney
410 Ware Blvd #821, Tampa, FL 33619
IRS Offer in Compromise

Tampa IRS Offer in Compromise Lawyer

What is an Offer in Compromise?

The Offers in Compromise (OIC) is an IRS program created in 1992 by Section 7122 of the Tax Code. If you qualify, an OIC is frequently the best solution for resolving your past due tax debt. The most recent published IRS statistics show that the average discount on accepted OICs was 88% - 12 cents on the dollar. Given the savings possibilities on accepted OICs, our Tampa IRS tax relief attorneys thoroughly reviews your case to see if you qualify for an OIC.

Contact Brian T. Loughrin Tax Attorney today!

What Are the Two Main Bases Which an OIC Can be Negotiated With the IRS?

There are two main bases under which an OIC can be successfully negotiated with the IRS. They are:

  • Doubt as to Collectability - such as the taxpayer is unable to pay the full tax debt.
  • Doubt as to Liability - the taxpayer claims that they do not owe the debt.

A recent third ground for acceptance is known as "Effective Tax Administration". In this situation the IRS wants to get as much as possible and they may believe that 12 cents on the dollar is as good as they can obtain from the taxpayer. For an OIC to be accepted, the burden of proof is with the taxpayer to show that they either have no possible means of paying the full tax or that they do not owe the tax.

How Do I Pursue an Offer in Compromise?

The main determinant on "Doubt as to Collectability" is based on a taxpayer's personal financial profile (income, expenses, and assets). The IRS sets strict guidelines for income, allowable expenses (such as housing, living, and transportation expenses), and the available equity in personally owned assets.

An additional benefit of submitting an OIC is that IRS Restructuring Act prohibits the IRS from collecting a tax liability by liens & levies during the period in which the Offer is being processed, or 30 days following rejection of an offer, or during the appeal of an OIC. This time frame of non-collection is often a time for our clients to avoid IRS collection actions. This secures extra time for our clients to gather monies to pay and stops the IRS from seizing any assets while the OIC process winds its way thru the IRS maze.

If accepted, payment terms for an OIC are in one of two ways: Cash (usually 20% with submission of offer and 80% within ninety days of acceptance), or Deferred Payment (24 monthly payments starting with the submission of your offer).

The IRS will not be deterred, and they won't disappear. Call a Tampa tax relief attorney for a FREE CONSULTATION and let's discuss all YOUR options in ending your tax problems.

Client Reviews

Don't Take Our Word for It, Hear It From Our Clients
  • “Brian was able to guide me through a very difficult situation, handle all my problems with the IRS and and answers all questions and concerns.”

    - FH
  • “I am VERY satisfied with the job Brian did and would recommend him to ANYONE with IRS problems.”

    - Gerald McCoy
  • “We are extremely grateful and so happy that we chose him to represent us. We now consider Brian a good friend.”

    - Joe and Michele
  • Brian T. Loughrin Photo
    Brian T. Loughrin

    Tax Relief Lawyer

    Brian Loughrin is an experienced and knowledgeable tax attorney* who has represented clients for nearly 20+ years. His particular expertise in the area of IRS tax law coupled with his unique dedication to his clients' property rights have enabled him to secure successful results in numerous cases. His admission before the United States Tax Court (and US Supreme Court) allows him to see your tax matter thru to the highest levels as may be necessary. No matter the particular circumstances of your ...
  • S

    Enrolled Agent

    As an Enrolled Agent, Shelley is federally authorized to represent taxpayers before the IRS for tax issues including audits, collections, and appeals. An Enrolled Agent status is the highest credential awarded by the IRS and is recognized in all 50 U.S. states. Shelley also has a Master’s Degree in Health Administration from the University of Oklahoma (Boomer Sooner!). Shelley says the transition from healthcare to tax controversy was a natural one as both rely heavily on helping people. In her ...

Get A Fresh Start

Start Your Free Consultation
  • Please enter your first name.
  • Please enter your last name.
  • Please enter your phone number.
    This isn't a valid phone number.
  • Please enter your email address.
    This isn't a valid email address.
  • Please make a selection.
  • Please enter a message.