Our experienced team of professionals has secured many offers in compromises for clients, even when their house and other assets had substantial equity. We understand IRS requirements as no one else does!
We successfully negotiated a $1600 offer-in-compromise with the IRS this week on behalf of our client who had a $140,000 valued home and only owed $40,000 against it. Our financial hardship evidence proved that access to such a large amount was not achievable due to minimal income and extensive expenses despite having up to 72K equity available; thus we were able to bargain an incredibly low settlement figure from them–testament again that expert knowledge is invaluable.
We successfully negotiated a $1600 offer-in-compromise with the IRS this week on behalf of our client who had a $140,000 valued home and only owed $40,000 against it. Our financial hardship evidence proved that access to such a large amount was not achievable due to minimal income and extensive expenses despite having up to 72K equity available; thus we were able to bargain an incredibly low settlement figure from them–testament again that expert knowledge is invaluable.
It's also important to point out that the house was her "home." The IRS will not forego equity in a rental property or investment property. In addition, to allowing for less home equity, the IRS recently made some of their most radical changes to the Offer Program.
Other Recommended Posts
Talk with a tax expert for free
(888) 282-4697
Registered members of the National Association of Enrolled Agents.
★★★★★
As someone who has, fortunately, little experience with legal problems, I was unsure where to turn when I received a VERY large tax assessment from the IRS. I was even more unsure about hiring a legal firm that turned up in the results of a search engine. But WATAX was the perfect choice... WATAX was able to resolve my issue completely. I recommend them highly.
E. Schaltenbrand
Via
Is 2025 the year to solve your tax issue? WATAX is ready to assist you now. Please call us at 1-888-282-4697 or email us a description of your tax issue and we'll contact you promptly.