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Tax Law Solutions
Tulsa Tax Law Attorney
Offers In Compromise (OIC)
Tulsa Tax Lawyers at Hanson & Hanson Law Firm can obtain IRS Tax Settlements in Tulsa and throughout Oklahoma UPDATE: The IRS has recently reduced dramatically the amount required to settle an Offer in Compromise. The amount that a taxpayer must pay to settle an OIC has been reduced by 75%.
If you owe taxes to the IRS and need help getting it settled, you may qualify for an Offer in Compromise (OIC). The IRS initially rejects over 90% percent of applications for Offers in Compromise. At Hanson & Hanson Law Firm, our tax attorneys have the expertise to work through the issues and substantially increase the chances of having your offer accepted.
An OIC is a tax settlement based on what the debtor can afford to pay, not what is owed. Most OIC settlements are based on showing the IRS that they will be unable to collect the full amount owed or showing that there is a legitimate dispute about whet the debt is owed. When a tax attorney at Hanson & Hanson files an OIC, the IRS stops taking steps to collect while the matter is pending, and we can obtain a levy release if you have one in place. You may also be able to stop making payments on an installment agreement.
With Hanson & Hanson representing you, you have Tulsa tax attorneys who will fight to get your Offer in Compromise accepted.
Settle for pennies on the dollar…fact or fiction?
If you have a lien filed against you, you will get advertisements from all over the country claiming they can settle your taxes for “pennies on the dollar.” They will take your money and your case even if you don’t qualify for an Offer in Compromise and then say, “sorry, but the IRS just won’t accept your proposal.” There are specific criteria that the IRS is required to follow before accepting settlements. There are also levels of review that must be met to accept an Offer. Filing an OIC when you don’t qualify for relief is a huge waste of time and money. At Hanson & Hanson our Tulsa tax attorneys will tell you honestly whether you qualify for an Offer in Compromise, and give you alternatives if it is not the best solution for your specific situation. If you are going to file an OIC you need a competent local tax attorney to handle it for you.