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Offer in compromise pre-qualifier may help determine eligibility

On Behalf of | Aug 3, 2021 | Tax Debt

Struggling to meet any type of financial obligation is not a good feeling. Many Georgia residents may find themselves unable to pay a bill on time at certain points of their lives, but for some, an issue with being unable to pay their taxes could result in a serious predicament. Fortunately, certain individuals facing this type of problem could qualify for an offer in compromise. 

An OIC is a type of debt relief option provided by the IRS that could benefit taxpayers who are struggling to pay their tax obligations. Of course, as with most types of relief and benefits programs, taxpayers would have to qualify before being able to take advantage of this option. Some parties may want to start by accessing the Offer in Compromise Pre-Qualifier Portal on the IRS website. 

Some details to know about this pre-qualifier portal include: 

  • Taxpayers would need to enter their tax filing status and other applicable financial information. 
  • The portal acts as a guide to help taxpayers determine whether this relief method could be right for them. 
  • The IRS makes the final decision regarding whether an OIC could suit someone’s circumstances. 
  • Even if the pre-qualifier portal makes it appear as if a person could pay their tax obligation in full, taxpayers may still be able to discuss their circumstances with the IRS and potentially qualify. 

Though online resources such as the Offer in Compromise Pre-Qualifier Portal could help Georgia taxpayers streamline their decision-making process, it is important to know that technology cannot always pick up on the nuances of a situation. As a result, some situations are better left for in-person discussion. If individuals believe they may be able to utilize an OIC for their tax obligation issues, they may want to discuss the best way to go about applying with experienced tax attorneys.