If you feel that you may qualify for an OIC, your best alternative is to contact Mr. Cohen and let him advise you. If you cannot afford to use a tax professional for guidance, call your local IRS office and ask to meet with someone to discuss the possibility of an OIC. You will need to provide the person helping you with copies of your most recent tax bills, plus complete financial information about your assets, liabilities, and current income/expenses.
The Internal Revenue Service receives in excess of 100,000 Offers in Compromise each year. Unfortunately, it rejects, or refuses to even consider, a very large number of these. The reasons range from gross inadequacy of the offered amount, to failure of compliance with filing or other rules, to simple procedural mistakes.
Because of Mr. Cohen’s familiarity with Internal Revenue Service regulations as well as his years of experience in negotiating offers, the majority of the offers that he files for clients are processed and accepted. Mr. Cohen will not waste a client’s time or money by filing an offer which he does not expect to be accepted by the IRS.
There are a few new types of offers that are now being considered by the Internal Revenue Service. They will now accept long-term deferred payment offers, as well as those involving unusual hardship. After Mr. Cohen reviews a client’s situation and history in detail, he can evaluate whether or not a client is a good candidate for an offer, and approximate the amount to offer under the formulas being used by the IRS.