Offer In Compromise

You may be able to settle your debt with the IRS for just pennies on the dollar with their Offer in Compromise program. The program allows taxpayers to settle with the IRS on tax debt that has been incorrectly assessed or for liabilities they cannot afford to pay.

The IRS Code states: "We will accept an Offer in Compromise when it is unlikely that we can collect the full amount owed and the amount you offer reasonably reflects the collection potential..." (Internal Revenue Code section 7122).

If done correctly your debt may be settled for only 5-15% of what you presently owe. The key is to determine if you qualify for the program.