IRS Debt Assistance

Settle your tax debt for less than the full amount you owe
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IRS Debt Assistance Attorney In Houston, Texas

What is an Offer in Compromise and How Can A Lawyer Help?

An Offer in Compromise (OIC) is a tax debt settlement offered by the IRS for those individuals or businesses who are unable to pay their full tax liability. This gives taxpayers the opportunity to settle their tax debt for less than what they owe, giving them a fresh start with their taxes. The IRS considers factors such as income, expenses, and equity of assets when determining if you are eligible to apply for an OIC. By working with an experienced attorney at The Pope Law Firm, you can ensure that your offer in compromise is handled properly and that you get the best result possible. 

Contact The Pope Law Firm to schedule a consultation with a lawyer today. 713-999-8917

Understanding the Process of Applying

Applying for an offer in compromise requires careful preparation and understanding of the process. Once eligibility has been established, individuals must complete an application package consisting of Form 433-A (for individuals) or 433-B (for businesses), Form 656(s), an application fee, and an initial payment. Upon submitting the application, individuals must select a payment option: either lump sum cash or periodic payments. If there are any discrepancies with the application or if it is not accepted at first glance, individuals may appeal and request assistance from IRS Office of Appeals. At The Pope Law Firm, we guide our clients through this entire process ensuring that all paperwork is filed correctly and all questions are answered appropriately along the way. 

Receiving Assistance on Your Rejected Offer

If after submitting your offer in compromise it is rejected by the IRS you have 30 days to submit an appeal using Form 13711 PDF. This form allows you to explain why your original offer should be accepted as well as provide additional evidence or information that could be helpful towards getting your application approved. With years of experience handling requests like these The Pope Law Firm can help navigate this situation to ensure that your financial circumstances are accurately reflected when making your appeal. Call The Pope Law Firm today to speak to a lawyer.

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