Joseph Boland, PC
Certified Public Accountant 
Tel. (973) 227-0799
Fax. (973) 227-0993

Accountants, Auditors, & Consultants

Serving NJ, NY, & PA

Tax Liabilities and Offers In Compromise

An Offer In Compromise is an agreement between the taxpayer and the government to settle a tax liability for less than the full amount owed. The IRS will accept a reasonable offer if it meets the guidelines established by the government: "… collection of what is potentially collectible at the earliest possible time and at the least cost to the government".


But beware of groundless promises made by some unscrupulous tax practitioners! The IRS is not K-Mart. They are not running a sale! The offer must meet IRS requirements and must be both reasonable and the best alternative available to the government. The good news is that if you qualify, and make a reasonable offer, the IRS can settle your tax liability for a fraction of the cost. We can assist you with the maze of regulations and guidelines involved in both determining if you qualify to make an offer in compromise and in completing the necessary documentation.


Of course, if you don't qualify for an Offer In Compromise, there are other options, such as, penalty reduction or abatement request, innocent spouse protection and Installment Agreements. We can evaluate these options in light of your tax liability, the reasons for the delinquencies and your personal financial circumstances. There's no one answer for everyone. Each case must be looked at and decided on its merits. We will assess your situation and outline the best course available to you. We will then, with your approval, proceed to initiate contact with the taxing jurisdiction. Often there is no need for you to interact personally with the IRS or other tax jurisdiction again.


We will handle everything: from assessing your circumstances, to initial contact with the government, to finalizing negotiations. Call 973-227-0799 now to learn if this will benefit you!