We are a full-service CPA firm with a practical and personalized focus on accounting, taxation and consulting for small to medium sized businesses and individuals. A quick tour of our web site will provide you with many of the answers to your questions on who we are and the ways we can be of service to you. You'll find lots of resources, financial tips, articles and more.Read More
Offer In Compromise
Did you know that you can 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).
Often it is possible to fully and completely eliminate the taxes you owe - including all penalties and interest - at an enormous discount. There is no preset bottom limit that the IRS will accept to settle your debt especially if your offer is done "right."
If done correctly your debt may be settled for only 5-15% of what you presently owe. The key is to determine the least amount that the IRS will accept from you before you make the offer.
Neuschatz, Neuschatz, Herman & Hanke, LLP | 124 Prospect Street , Ridgewood, NJ 07450 | Phone: (201) 301-7700 | Fax: (201) 301-7690 | firstname.lastname@example.org