OFFER IN COMPROMISE Because of the complexity of the Offer in Compromise process, many taxpayers hire a tax professional to prepare their Offer documentation and to negotiate with the IRS. Tax professionals charge anywhere from $1,500 to $3,000 or more for accurate and thorough Offer in Compromise representation. Because an OIC also involves negotiating with the IRS, your tax professional should be admitted to practice and REPRESENT before the IRS. You should be looking for a tax attorney, Certified Public Accountant (CPA), or Enrolled Agent (EA), to handle your Offer in Compromise. Beware of Offer in Compromise scams! Many unscrupulous tax preparers will quote you a seemingly affordable price for your Offer in Compromise. Such preparers will prepare your Offer in Compromise forms, but will not prepare the necessary backup documentation, and will not negotiate with the IRS for you. All they do is type up the forms and mail it to the IRS. This is a waste of time and money. To protect yourself, find a tax professional that is experienced, qualified, and has a good personality. You are going to be working with this person very closely for the next year or two, so make sure you feel absolutely comfortable.
Posted on: Tue, 05 Nov 2013 20:47:04 +0000
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