Offer in Compromise

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Offer in Compromise

Offer in Compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service.  It settles a taxpayer’s tax liabilities for less than the full amount owed. In most cases, taxpayers who can fully pay the liabilities through an installment agreement or other means, generally won’t qualify for an OIC. There are three scenarios under which the IRS accepts Offer in Compromise requests:

  • Doubt as to Liability: The amount of tax assessed is incorrect and you disputing part or all of the tax debt.
  • Doubt as to Collectability: This is the most often used scenario. The person filing under this category must demonstrate that he or she will likely never be able to pay the full tax obligation due to financial hardship or some other compelling reason. IRS will consider the following set of facts and circumstances when reviewing Doubt as to collectability Offer: Ability to pay, income, expenses and asset/equity.
  • Effective Tax Administration (ETA): Requests for relief under this scenario do not dispute the amount of the tax and that you must not qualify for Doubt as to Collectability offer, which means that you have enough equity in assets to full pay the tax liability but due to special or exceptional circumstances liquidation of these assets would create an economic hardship. Elderly and disabled taxpayers who are on fixed income often use this scenario.

Traditionally, an Offer in Compromise involved tedious paperwork and processing times by the IRS are lengthy. However, in 2011, the Fresh Start program was instituted which provides additional relief and a more streamlined process under certain conditions. The ultimate goal is a compromise that suits the best interest of both the taxpayer and the IRS. To be considered, generally you must make an appropriate offer based on what the IRS considers your true ability to pay.

Offer in Compromises have a very low acceptance rate, and you may want to consider hiring a professional to help your chances of success if you feel that you may qualify.  The team at Coast One is proud to have a track record in 2018 of saving clients 92% or more on their back taxes when negotiating an Offer in Compromise.  Give us a call today for a free consultation to see if you qualify.

4.8 out of 5 star

10 reviews

Jess T.
2019, July 30, 5:31 pm

Coast one Financial saw my family through

Coast one Financial saw my family through our entire settlement to the end! They did everything they promised, and got us a major settlement savings! My husband and I can\'t thank them enough!

snifflepuff13
2019, June 20, 1:42 pm

Coast one helped me out when I was up against the IRS

Coast one financial group helped me out when I was up against the IRS with a debt of close to $15,000. My ex husband left me in a bad place financially having lied on our last joint tax return. I also had some health issues that kept me from paying my taxes and instead paying for health insurance. Coast one handled all correspondence to and from the IRS as well as kept in touch with me throughout the whole experience. I settled for pennies on the dollar and can now resume my life tax debt free. I\'m so grateful for their help.

Donna S
2019, June 20, 1:31 pm

Coast one save me $34,000 in *** tax debt

Coast one save me $34,000 in *** tax debt the entire team worked me to get all info need for my settlement. I saw advertisement on tv for Coast One and had no I dead they could help me. We settled $440 great job guys!!!

Julie Churchill
2019, May 15, 1:43 pm

I was very happy

I was very happy with all people and quick responses. I would highly recommend this company

Cindy L
2019, May 3, 1:32 pm

My husband and I had about $40,000 in tax debt

My husband and I had about $40,000 in tax debt from some difficulties we had experienced a few years ago. The *** refused to make payment arrangements with us after we’d broken our past agreement following a job and personal losses. We’d seen these tax relief advertisements but wondered if it would work for us. I got an offer to help us by Coast One Financial Group.. I called them and left a message. An attorney called me back and asked if he told me for a few thousand (about $3000 I think) I he could help eliminate $10’s of thousands of dollars of *** debt. I said i’d Love to but didn’t have enough to pay them. He offered us a payment arrangement that we could afford and we did it. We ended up paying the *** $259.00 in exchange for eliminating $40900 of tax debt. We got the letter this week that our tax lien will be lifted within 30 days. This year we filed our taxes and paid them in full! What a relief and burden was lifted thanks to Coast One Financial and their attorneys. I would recommend them to everyone. They are amazing!

Reply from Coast1Tax :

2019, May 3, 1:32 pm

Thank you!

stephen k
2019, May 2, 1:59 pm

will tell many people to call

was very happy with the outcome will tell many people to call coast one for help and thank you.

Reply from Coast1Tax :

2019, May 3, 1:59 pm

Thank you!

Reginald G
2019, April 3, 2:00 pm

Coast One is the best hands down

Coast One is the best hands down, I would recommend Coast One to anyone who has any *** trouble. Everyone have had the up most respect for me situation and took time to walk me through it every step of the way until things was resolved properly. My hat goes off to the whole team. You guys rock

Reply from Coast1Tax :

2019, April 3, 2:00 pm

Thank you!

Cynthia K
2019, March 25, 2:01 pm

JUST AWESOME!!!

JUST AWESOME!!! COAST ONE FINANCIAL, SAVE MY LIFE, FROM ***** FOR YEARS I WAS AFRAID PAYING, MONTHLY PAYMENTS, BUT NOW I DON\'T WORRY ANY MORE FROM 30+ THOUSAND TO 3 THOUSAND DOLLARS IS AWESOME, AWESOME. THANKS, SO MUCH THEY DO WHAT THEY SAY THEY WILL DO. BELIEVE!!!!!! THANK YOU SO MUCH!!!!!!!

Reply from Coast1Tax :

2019, March 25, 2:01 pm

Thank you!

Ranting with Reg Hollywood
2019, January 15, 1:46 pm

step by step guidance

Thank you so much for your patience and step by step guidance, You guys are great and would recommend anyone who have a IRS problem to you guy. Thanks a million you guys rock. I appreciate everything you\'ve done

S. Atika
2018, August 30, 1:47 pm

I owed $44,000 and walked away paying $123 NO JOKE!

Coast One allowed me to have peace again. I was in debt over my ears and saw no way out. With a little time and patience they took me out of debt and gave me my life back. I owed $44,000 and walked away paying $123 NO JOKE! Thank you to the amazing team at Coast One!

Reply from Coast1Tax :

2018, September 1, 1:47 pm

On Behalf of Coast One, we thank you!

Coast One Tax Group - Offer In Compromise

Owe $10,000 or more in Back Taxes?

We offer the following services:

  • Tax Resolution
  • Tax Preparation
  • Tax Negotiation
  • Tax Lien Withdrawal
  • Tax Audit Representation
  • And More...

If you owe $10,000 or more in back taxes to the State or IRS, the team of tax experts at Coast One Tax Group is here to help.

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