We have put together a quick guide to check if you qualify for an Offer in Compromise. Use our TruTax Offer in Compromise calculator! The OiC Calculator is quick and easy to use!
Over the years Delgado & Associates has successfully represented offer and compromise before the Internal Revenue Service, Franchise Tax Board, Employment Development Department, and the California Department of Tax and Fees Administration. This success translates into hundreds of thousands of dollars in savings to our clients. These savings are accomplished by obtaining a thorough understanding of each client’s needs and qualifications.
Since no two cases are alike, we design a specific strategy for each individual client. We begin by meeting with each client and formulating an in-depth analysis of income and expenses. Each client is then qualified for the Offer in Compromise program which best suits their specific needs. Lastly, our team of representatives will aggressively negotiate directly with the taxing agencies to get you the best results possible.
The amount the IRS will accept in lieu of paying your full tax liability varies with each person because it is based on your assets, monthly income, and monthly expenses. The offer amount is the result of applying a formula that includes your total monthly income less certain monthly expenses for several years plus the value or equity portion of certain assets. Offer and compromise amounts can be as low as a few hundred dollars!
We'll start by reviewing your case to get a better understanding of you current situation. We will then formulate an in-depth analysis of your income.
Our team of representatives will aggressively negotiate directly with the taxing agencies to get you the best possible results for your offer and compromise!
Experience the joy of being debt free and settle for pennies on the dollar! This is an investment you cannot pass up!
“I'm a firm believer that Delgado & Associates explores every option and incorporates newly passed laws to best help their customer regardless of the scenario complexity. For may businesses, gathering tax documents during tax season can be heavy and very nerve racking but Delgado & Associates have always simplified the process and produced amazing results.
- Sergio L. (California)
“I give Delgado & Associates a 5 stars all across the board. John the owner has been our Tax consultant for over 10 years. He has helped us get through some of our unforeseen tax issues last year. I gave him all the information and he and his team took over everything else. They dealt with the IRS and all other Legal matters. In was cleared up within a couple of months. He is very responsive, knowledgeable and so pleasant to work with."
- Rosa (California)
“When I first started using Tru Tax my finances were a mess and IRS was after me. With TRU Tax's help, they were not only able to resolve the problem with IRS but were able to get my taxes squared away with additional refunds that I didn't even expect. In short, THEIR THE BEST."
- Doug (Missouri)
Every taxpayer is eligible to request an Offer in Compromise from the IRS but not all offers will be accepted. You have the greatest chance of having an offer accepted by the IRS if your monthly income and expenses are relatively equal so that you have little to no disposable income per month and your assets are relatively low in value or have little to no equity in your home. Most importantly, you must file all of your tax returns prior to submitting an Offer in Compromise with the IRS.
The overwhelming popularity of the OiC program has created a processing backlog at the IRS. OiC approval time can take anywhere from three to nine months. During this time, all IRS collection activity against you will be put on hold pending approval of your OiC. Once your OiC is approved and the IRS receives the agreed-upon settlement amount, your outstanding tax liability is forgiven.
An Offer in Compromise (sometimes referred to an Offer and Compromise) is a tax settlement agreement between a taxpayer and the IRS. The IRS has the authority to settle or compromise federal tax liabilities by accepting a payment that is less than the actual amount of taxes you owe. The IRS may legally compromise a tax liability when doubt exists that you could ever pay the full amount.
The amount the IRS will accept in lieu of paying your full tax liability varies with each person because it is based on your assets, monthly income and monthly expenses. The offer amount is the result of applying a formula that includes your total monthly income less certain monthly expenses for several years plus the value or equity portion of certain assets. Settlement amounts can be as low as a few hundred dollars.
Don't settle for less!
– C.G. Los Angeles, CA.
Thank You! Thank You! I must admit to still be in shock. What a load off my shoulders…After settling my case for pennies on the dollar, $1,000 [from] $37,000, there were no extra hidden charges amazing!
– R. Crane San Crane, CA.
“They helped me feel at ease during the process and resolved my tax debt issues with the IRS and the FTB better than I could have imagined.”
– A. Fassler Los Gatos, CA