Like other creditors, the Internal Revenue Service wants to collect on money that it is owed, even if it can't recover the entire amount. Just like banks and lenders, the IRS will often choose to accept a reasonable portion of its money now than take on the hassle of collecting and the risk of potentially recovering less money later.
An Offer in Compromise, or OIC, is a type of settlement that a taxpayer can make with the IRS to satisfy a tax debt. When it is accepted, an OIC can stop disruptive collection activities such as wage garnishments, tax liens and bank levies.
We Can Help You Settle Your Debt With the IRS
If you are under pressure to pay back taxes, having the assistance of a knowledgeable attorney can enable you to find a workable solution to the problem. At Randolph Law Firm, we can help you by:
- Preparing and submitting an Offer in Compromise with the greatest chance of being accepted by the IRS
- Negotiating affordable IRS payment plans that can help you pay off what you owe (or less than what you owe) over a reasonable period of time
- Helping you take advantage of the innocent spouse rule, which allows some taxpayers to avoid being held responsible for a spouse's tax debt
- Representing you in tax litigation focused on tax abatement
Contact a Southern Nevada Tax Settlement Attorney for Advice
We have facilitated many Las Vegas Offers in Compromise for our clients. As an experienced lawyer with an advanced degree (LL.M) in taxation, Taylor Randolph can help you understand your legal rights and your options for clearing up your tax debt, secured and unsecured debts, or mortgage difficulties.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.