The Offer in Compromise (OIC) is an IRS program that allows a tax payer (or business) and the IRS to negotiate a permanent settlement of delinquent federal taxes, penalties and interest for a fraction of the original amount.
If the offer is approved, federal tax liens are released and the tax payer (or business) is given a fresh start.
There are reasons a taxpayer and/or business get behind on taxes and the OIC is a useful way for the IRS to collect as much debt as possible under a single settlement.
Sound simple? Its not. Negotiating with the IRS is a brutal process. They have absolutely no sympathy. Its not a matter of just throwing any number out there and hoping they bite. They are looking at everything; Its why you hire the professional lawyer. Attorney Mark Williams is an expert in both bankruptcy and the OIC Program. We aren't just looking at your tax debt, we're looking at full picture of the tax payer and their business and to get both, back on track.
Check out more valuable information about Guam's Laws and working with Mark Williams, Guam's Best Lawyer, on Dededo Law Office's website, www.GuamLegal.com.