Offer In Compromise
In 2012, Congress passed legislation that mandated the IRS to make settlements with taxpayers to give them a “Fresh Start”. The law took away the subjectivity from the code and replaced it with quantifiable formulas so that settlements could be reasonably determined when the Offer is submitted.
The law also minimized the amount of cash payments required for settlement. We are on the cutting edge of the “Fresh Start” law. We can now execute settlements based on a proprietary computer program that incorporates the new requirements.
On the right, we have listed a few of the Offers that we have made within the last few months. Our average settlement is 10% of the total balance due.
| Month, Year Submitted | Year(s) covered by OIC | Initial Amount Due | Amount of Offer |
|---|---|---|---|
| August, 2015 | 2009-2014 | $24,300.00 | $97.00 |
| July, 2015 | 2007-2015 | $73,410.00 | $12,731.00 |
| November, 2015 | 2004-2014 | $26,394.00 | $984.00 |
| April, 2015 | 2010-2014 | $75,890.00 | $8,892.00 |
| August, 2015 | 2007-2014 | $123,376.00 | $13,584.00 |
| August, 2015 | 2012 | $46,380.00 | $0.00 |
| November, 2015 | 2009-2014 | $73,424.00 | $14,472.00 |
| July, 2015 | 2008-2012 | $68,116.00 | $24,232.00 |
| June, 2015 | 2011-2014 | $109,919.00 | $17,535.00 |
| September, 2015 | 2004-2014 | $50,683.00 | $7,645.00 |
| August, 2015 | 2013 | $170,610.00 | $2,084.00 |
Visit Our Greenville Office
Address: 217 Whitsett Street, Greenville, SC 29601
Phone: (864) 558-0755 | Fax: (864)233-7751
George Brock: george.brockcpa@gmail.com