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Offers in Compromise

Offers in compromise is a process in which you can reduce your Internal Revenue Service or State tax debt by negotiating with the taxing agency to lower your tax bill. This process is often referred to as settling your taxes for "pennies on the dollar." Your three basic arguments to reduce or eliminate your taxes are as follows: 1) You owe the tax but you can't pay; 2) IRS is wrong - you don't owe the tax as claimed by the government; 3) You owe the tax and you CAN pay but collecting any money from you would be unjust.

Majority of the taxpayers fall into the first category (ie: You owe the tax but you cannot pay the IRS the full amount of what is owed). For the IRS to consider an offer in compromise, you must at least offer to pay an amount equal to value of all your assets plus all the money the IRS "thinks" that it can collect from your future income for a period of 4 to 5 years.

The IRS will reject your offer if they believe that the amount offered by the taxpayer is less than what they could collect from their regular collection process. In that regard, it is very important review and analyze your case from the perspective of an IRS officer. Our California Offers in Compromise Attorneys and staff are well seasoned through experience and training to properly analyze and present your case to the IRS for a quick and favorable decision on the offer in compromise for its clients.

Client Reviews
Victor is an excellent tax attorney for individuals and business in need of tax relief. Feel assured that Victor can get the job done. I know I am comfortable recommending Victor for any tax problem. John K.
We had a irs problem and came to Victor. He is very knowledgeable and gave us great advice. I would recommend him to anyone with tax problems. He also does franchise tax board cases but we didn't need him for that. I have referred fiends to him and they were happy with him too. Pam
My elderly mother had a very complicated tax problem from when she lived in CA years ago. Even though we now live in Oregon, Mr. Yoo not only helped her remotely but delivered better and expected results. We couldn't have asked for better service. Lisa
Victor got us out of a jam with the IRS. We were the first to be offered a new amnesty program and it saved us quite a bit in taxes, but more importantly gave us peace of mind. John
Our personal taxes got complicated because of an erroneous 1099 we received. As a result our tax liability increased. Victor was able to iron things out with the IRS and Franchise Tax Board. Ed