What is an Offer in Compromise?

An offer in compromise allows you to pay back your tax debt for less than the full amount you owe. If you are having trouble paying back everything that is owed, or paying back creates a significant amount of financial pressure, you may want to consider this option. The offer in compromise is not guaranteed for everyone. You have to go through a process that takes a hard look at what you are capable of doing financially. The IRS will consider your ability to pay, how much you make, what your expenses look like and how much you own in assets.

If you owe money to the IRS, and are incapable of paying it back, an offer in compromise may be your best bet. Experienced Attorney Elaine Fridlin has handled hundreds of cases concerning offer in compromise and will not let you down. For more information, or to schedule an appointment, call (718) 372-4400.

Source: http://www.irs.gov/Individuals/Offer-in-Compromise-1

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Fridlin & Associates, P.C. is a financial law firm for individuals and small businesses in metropolitan New York. If you or your business face a problem concerning bankruptcy, debt settlement, loan modification program, the sale and purchase of residential or commercial real estate, landlord/tenant disputes, enforcing your rights as a creditor, the sale and purchase of a business, or employment litigation, Fridlin & Associates stand ready to provide the solution that protects your best interests. We can help you: Eliminate Debt! Stop Foreclosure! File for Bankruptcy! Apply for a Loan Modification Program! Stop Wage Garnishment! Stop Lawsuits! Eliminate Judgments! Eliminate or Reduce the second mortgage on your home! Reduce the mortgage on your investment property to its fair market value! Eliminate your obligation to pay creditors and medical expenses! Eliminate business loans! Release Frozen Bank Accounts! Stop harassing phone calls! Please call 718-372-4400 today for a free consultation. We have appointments available Monday through Friday and your first visit is free. Fridlin & Associates, P.C., also provides legal representation on wage dispute matters under the Fair Labor Standards Act in both federal and state courts. Learn more about Elaine Fridlin and Fridlin & Associates here. If you’re interested in bankruptcy as a potential solution to your debt management problems, you can learn more about bankruptcy for both consumers and businesses here.

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