IRS & NJ tax problems · Offers in compromise
Offer in Compromise Help in Bergen County
An offer in compromise settles a tax debt for less than the full amount, but only when the IRS agrees it could not collect more over time. We run the IRS's own formula on your numbers first, so you know whether an offer makes sense before you pay the fee.
Monday to Friday 10am to 6pm, weekends 11am to 5pm.
What we handle
Filed only when it can work.
A rejected offer costs the fee, the initial payment and months of time.
Can't pay in full
The most common basis: your assets and income could not pay the debt before the collection deadline.
Exceptional circumstances
You could technically pay, but doing so would cause real hardship or be unfair.
Don't actually owe it
A genuine dispute about whether the tax is correct.
Lump-sum or monthly
Lump-sum offers send 20% with the application. Periodic offers make monthly payments while the IRS reviews.
Compliance first
Every required return must be filed and current-year estimates or withholding in place before the IRS will consider an offer.
State settlements
New Jersey and New York have their own settlement programs, with their own rules.
How it works
From the numbers to a decision.
You authorize us
You sign a power of attorney, IRS Form 2848, online. From then on IRS notices come to us too, and we speak for you.
We run the formula
We build the IRS's collection calculation from your actual income, expenses and assets.
We file or redirect
If an offer fits, we prepare and submit it. If not, we set up the payment plan or hardship status that does.
Common questions
Questions people ask first.
What does it cost to apply?
The IRS charges a $205 application fee plus an initial payment, unless you meet its low-income guidelines. The initial payment is applied to the tax, not refunded, even if the offer is rejected.
The radio ads say I can settle for pennies on the dollar.
Some people qualify. Many do not. If your assets and future income could pay the debt, the IRS will reject the offer, which is why we run the numbers first.
What happens while the offer is pending?
The IRS generally holds off on levies while it reviews the offer, but interest keeps running. Review commonly takes several months.
What if it is accepted?
You must file and pay on time for the next five years. Missing that can bring back the original balance.
Wondering if you qualify?
The first consultation is free. We will tell you honestly whether an offer is worth filing.