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How to Settle Tax Debt? Learn how to settle tax debt with the IRS using an Offer in Compromise.

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How to Settle Tax Debt? Learn how to settle tax debt with the IRS using an Offer in Compromise. Can you settle IRS tax debt? Yes. It is possible to settle tax debt for less than you owe with the IRS. You use a solution known as an  Offer in Compromise  or OIC. This is the solution you may hear advertised that boasts you can “settle tax debt for pennies on the dollar.” It’s worth noting, however, that the IRS doesn’t just hand OICs out to anyone who requests one. The IRS must have a reasonable expectation that they cannot collect the full amount owed. You basically need to prove that the reduced settlement amount is the maximum amount they can expect to receive. How to settle tax debt step by step 1.     First you apply for an Offer in Compromise (OIC) using Form 656. 2.     You must pay a $186 application fee to apply. 3.     You must also provide a full financial disclosure that details all your income, expe...

How much does it cost to hire a tax lawyer in California?

The hourly rate for a tax lawyer in California is around $200 to $500, on an average. However, the experienced lawyers working with big firms charge more than $1,000 per hour. Hourly rates are usually for the cases that are complicated and take time. For the simpler cases, flat or fixed fee charges are imposed. Usually, the flat charges range from $750 to $2,000. These are some standard rates and can vary from one city to the other and one lawyer to the other. Tax relief done better, together National Tax Attorney can assist you right now with an offer in compromise and installment agreement. Perfect for people and businesses who owe more than $10,000 in back taxes. Start for FREE Call 951-224-9105 Pay only when your power of attorney is filed