Settling your IRS tax liablity for pennies on the dollar could be a solution to your IRS problem. Its not any easy process and can take up to year to obtain results, but can still be a viable option.

There are certain criteria that you need to address, such as current income, age, health, educational background, assets and oh yes your future earning ability. A CPA familiar with the process is a necessity since financial information must be presented accurately,frequently submitted and updated several times. Reason being the IRS is backlogged with OIC requests and an offer can take upwards of 9 months to reach a settlement. The followup by your CPA is essential to a favorable outcome, drop the ball once and your doomed to fail. There will always be conditions of the acceptance of your offer. File and pay future taxes in full and on time are just a couple. If you don’t, then your offer is rescinded and your back at square one. The hard work involved can pay high dividends.

Author: Ronald A. Muscarella, CPA - www.taxreliefcpa.com