Let’s be honest—owing money to the IRS is stressful. Whether it’s a few thousand or a six-figure debt, the weight can feel crushing. You might be losing sleep, dodging calls, or wondering how you’re ever going to pay it all off. If this sounds like your reality, you’re not alone—and you’re not out of options. One possible solution is something called an IRS Offer in Compromise. Here at Halls IRS, we’ve helped people just like you settle their tax debt for much less than what they owed. If you’re in over your head and can’t pay your full tax bill, this program could be your fresh start. What Is an IRS Offer in Compromise, Really? In simple terms, an IRS Offer in Compromise (OIC) lets you settle your tax debt for less than the full amount you owe. It’s kind of like negotiating with the IRS and saying, “Look, I want to make this right, but this is all I can realistically pay.” If the IRS agrees, they’ll wipe the rest of the debt clean once you pay the agreed amount. It’s not a trick or loophole. It’s a legitimate program offered by the IRS for people who truly can’t afford to pay everything they owe. And it’s not always easy to get approved—but that’s exactly why we’re here. Who Actually Qualifies for an Offer in Compromise? Here’s the thing: the IRS won’t just hand out discounts to anyone. You have to prove that paying your full debt would cause serious financial hardship. They’ll look at your: Income and expenses Assets (like property, cars, bank accounts) Your ability to pay over time If it turns out you couldn’t reasonably pay your full debt—even over several years—you might be a good candidate. Also, you need to be current on all your tax filings and not in the middle of a bankruptcy. But don’t worry—we’ll help you figure out if you check all the boxes. What’s the Process Like? The process can feel a little overwhelming if you go it alone. But when you have a team like ours walking you through it, things get a lot easier. Here’s what the journey usually looks like: Let’s Talk We start with a conversation. No pressure, no obligation—just a quick call to learn about your tax situation and see if an IRS Offer in Compromise might be a good fit. We Dive Into Your Finances We’ll go through your income, monthly expenses, assets, and any debts you have. This gives us a full picture of what’s going on and how strong your case might be. We Build and Submit Your Offer Our team will put together a detailed proposal that shows the IRS why accepting a reduced amount is the smartest (and fairest) option. We handle the paperwork, deadlines, and back-and-forth with the IRS. The Waiting Game Once the IRS gets your offer, it can take several months to hear back. But don’t stress—we keep you updated every step of the way, and we deal directly with the IRS on your behalf. You Get an Answer If your offer is accepted, you’ll just need to follow through with the payment terms. If it’s denied, we’ll talk through other options or help you appeal the decision. Why Go with an IRS Offer in Compromise? If you're wondering whether it's worth it, here are just a few reasons people choose this route: You could pay way less than what you owe. In many cases, people end up paying just a small percentage of their total tax debt. It can stop collection actions. While your offer is being reviewed, the IRS usually puts a pause on things like wage garnishments, bank levies, and threatening letters. It gives you peace of mind. When your offer is accepted, you get to move forward—no more looking over your shoulder. It's a real shot at a fresh financial start. Instead of living under the weight of IRS debt for years, you can finally start rebuilding. Why Trust Halls IRS to Help? We know how nerve-wracking dealing with the IRS can be. At Halls IRS, we treat every client with the respect and honesty they deserve. This isn’t just about crunching numbers—it’s about helping real people get their lives back. We bring years of experience to the table. We take the time to understand your unique situation. We’ll give you straightforward answers and honest advice. We do all the heavy lifting, so you don’t have to. We’ve helped clients settle debts that once seemed impossible. Whether you owe $10,000 or $100,000, we know how to navigate the system and fight for the best outcome. Is an IRS Offer in Compromise Right for You? It’s not right for everyone—but if you’re buried in tax debt and just don’t see a way out, this could be a lifeline. The best way to find out? Talk to someone who’s been through it hundreds of times before. At Halls IRS, we’ll listen without judgment and help you understand all your options. Whether you qualify for an Offer in Compromise or another type of tax relief, you won’t have to figure it out alone. Ready to Take the First Step? If you’re done losing sleep over tax debt, we’re ready to help. Let’s talk about whether an IRS Offer in Compromise is the right move for you. Contact Halls IRS today to schedule a free, no-pressure consultation. You deserve a fresh start—and we’re here to help you get it.
The bad news is that now not clearly everybody is eligible to apply this option to settle tax debt.
However, it isn't for all people, and taxpayers need to discover all other fee alternatives earlier than filing a proposal in compromise to the IRS.
Taxpayers, who can truly pay the liabilities via an installment settlement or different way, usually may not qualify for an OIC.To qualify for an OIC, the taxpayer should have:Filed all tax returns.Made all required estimated tax payments for the present day yr.Made all required federal tax deposits for the present day area if the taxpayer is a accounting services in austin owner with personnel.IRS Acceptance CriteriaWhether your provide in compromise is traditional is predicated upon on numerous of things; but, commonly, an offer in compromise is famous whilst the amount presented represents the most the IRS can expect to collect inner an cheaper time frame.
This refers to whether there is doubt that the quantity owed is truly collectible together with whilst the taxpayer's belongings and profits are a good deal less than the whole quantity of the tax liability.Effective tax management.
This applies to times where there may be absolute confidence that the tax is legally owed and that the complete quantity owed can be collected however requiring price in complete might either create a financial trouble or might be unfair and inequitable because of excellent times.Application and FeesWhen asking for an OIC from the IRS, use Form 656, Offer in Compromise, and also publish Form 433-A (OIC), Collection Information Statement for Wage Earners and Self-Employed Individuals.
If the OIC is based totally on doubt as to criminal duty, no application charge is required, however.If the taxpayer is an man or woman (now not a corporation, partnership, or unique entity) who meets Low-Income Certification guidelines they do no longer ought to post an application rate or preliminary fee and could not need to make month-to-month installments all through the evaluation of a suggestion in compromise.The initial payment is based totally on which charge preference you select to your offer in compromise:Lump Sum Cash.
