Navigating IRS Offer in Compromise for Tax Relief
Steve Perry- The IRS Offer in Compromise (OIC) allows taxpayers overwhelmed by tax debt to settle for less than owed based on their financial hardship. - Acceptance depends on the IRS’s evaluation of income, expenses, assets, and reasonable collection potential. - Not all taxpayers qualify; professional assessment by experts like Enrolled Agent (EA) Steve Perry prevents wasted applications and delays. - Preparing an OIC requires precise completion of Form 656 and Form 433-A(OIC) with accurate financial disclosure to avoid rejection or delay. - Experienced representation helps negotiate with the IRS, respond to counteroffers, and handle appeals if necessary. - Common taxpayer errors include miscalculating payment ability, improper asset accounting, and failing tax compliance; professional guidance addresses these issues. - Steve Perry, EA from Books, Taxes & More provides expertise in navigating the complex OIC process, improving chances of a successful tax debt settlement.