TAG Tax

Contact: Berger Singerman (Florida, USA)

Recently, due to the exceptional economic downturn, the number of struggling taxpayers who are unable to pay in full the taxes they owe has increased dramatically. One of the methods available to such distressed taxpayers is to enter into what is known as an Offer in Compromise with the Internal Revenue Service. If the offer is ultimately agreed to by the taxpayer and the IRS, the amount agreed upon which is less than the total outstanding debt, once paid, would be deemed to be a 100% satisfaction of the outstanding liability.  Read more.