Offer in Compromise:

The Offer in Compromise program, as we know it, was established by the Internal Revenue Service in 1992 to aid both the Federal Government and taxpayers in resolving delinquent accounts. Although the Internal Revenue Service has always possessed the power to accept settlement proposals, a growing balance of delinquent accounts-receivable forced the Internal Revenue Service to seek methods of resolving taxpayer debts that could not be fully paid, yet didn’t meet the criteria of the “currently non-collectible” standards, typically reserved for the truly destitute.

With over 100,000 offers being submitted annually, the Internal Revenue Service has a considerable back-log of settlement cases to review. Many are returned or rejected with little warning or discussion on the matter. Taxpayers unfamiliar with the system, and its delays and pitfalls, may find it difficult to navigate through the maze of submission guidelines, counter-offer negotiations, and appeals procedures, simply due to the overwhelming complexity of the tax codes and the offer systems. It is worth noting that the National Taxpayer’s Advocate Report to Congress in 2004 labeled the Offer In Compromise Program’s short-comings as one of the “Most Serious Problems facing the Internal Revenue Service”.

When attempting to submit an Offer In Compromise with the Internal Revenue Service, taxpayers will need assistance in clearing the hurdles put in place to “weed out” frivolous offers, and eliminate the back-log. Aspen Accounting & Financial Services has substantial experience in expediting these cases, and can reduce the headaches typically associated with the Offer in Compromise process. We employ Offer Specialists who are constantly on top of the ever-changing tax codes and regulations, and who know the most direct routes to getting the consideration your offer deserves. Whether you owe $10,000 or $1 Million, we’ll ensure that you pay as little as possible, as affordably as possible.