IRS Tax Relief Attorney
6983 E. Fowler Ave., Temple Terrace, FL 33617
IRS Offer in Compromise

IRS Offer in Compromise

IRS Tax Relief Attorney

If you qualify, an Offer in Compromise (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.

The Offers in Compromise (OIC) is an IRS program created in 1992 by Section 7122 of the Tax Code. There are two main bases under which an OIC can be successfully negotiated with the IRS.

Contact Brian T. Loughrin Tax Attorney today!

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.

Pursing 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 ...
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    Shelley

    Legal Assistant

    Shelley received her B.S. in Occupational Therapy from the University of Oklahoma and spent years working as an Occupational Therapist before completing her Master’s Degree in Health Administration also from the University of Oklahoma (Go Sooners!). She later worked as a Rehabilitation Director before transitioning to tax controversy. She is currently studying to become an Enrolled Agent so that she can more fully assist clients before the IRS. Shelley says transitioning from the medical field ...
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    Garrett

    Receptionist/Intake Specialist

    Garrett is a student at Hillsborough Community College where he is studying Accounting. Previously, he worked for an electronics manufacturer as a Quality Assurance Inspector and Auditor. He achieved several QA certifications before joining Tampa Tax Relief. Garrett’s prior experience provides him with the necessary skills to assist the legal team. Garrett’s hobbies include Esports, working out, hunting, and listening to music. Garrett@TampaTaxRelief.com Get started on your free consult - ...
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