BULLSEYE TAX RELIEF
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IRS OFFERS AND COMPROMISES WELCOMES YOU
IRS Offer and Compromise (OCIC) program exists and people with good financial records and substantial tax returns may qualify for this program. In 2020, the OIC approval rate was over 26%. However, in 2020, it was only 38%.
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The reason for the increase is because in many cases of IRS offers and compromise, the government offers an offer to pay a debt on the tax returns. This is done to get the taxpayer to come up with the money they owe so that they can make the payment, which will be reflected in the taxpayer's credit score.
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IRS Offers and Compromises are not just offered because they are a way to get you to come up with the money to pay back taxes. They are also offered to get someone to pay the tax debt that they owe because they are unable to make the full payment and because it is better to have the debt forgiven than to have a debtor who has not made payments in a very long time to go into foreclosure and lose their home.
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If you owe a lot of money to the IRS, then it may be better to take an Offer and Compromise rather than going into foreclosure or taking the matter to court. You do not want to have to deal with late payments or foreclosure on your home. Therefore, if you have a tax debt and you can't make all the payments, you might be able to get this IRS Offer and Compromise.
If you are struggling with your tax debts and you don't have the extra money to make your monthly payments, then you might want to look into the IRS Offer and Compromise program. It might be a way for you to get out of trouble with the IRS. IRS Offers and Compromises work best if you owe less than ten thousand dollars, since most taxpayers who receive an Offer and Compromises will have a tax debt that is less than ten thousand dollars. If you owe more than ten thousand, then you may want to try to work out a payment plan with the IRS.
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If you do get IRS Offers and Compromises, then you must take the Offer and Compromises when you get them. There are usually some conditions attached to the Offer and Compromises, and if you do not accept them, then you could end up owing the government more money. Then you owe the IRS. It would be best to accept the Offer and Compromises when you receive them and to avoid having to pay the tax debt and having to deal with IRS collections.