Offer in Compromise
Harrisburg Offer in Compromise Lawyers
In this difficult economy, it is often all that can be done to stay afloat financially. Tax liability can put you over the financial edge, making it impossible to meet your other financial obligations. Fortunately, the attorneys at the Law Offices of Craig A. Diehl may be able to offer a viable alternative — we have extensive experience providing assistance with negotiating offers in compromise with the IRS.
To discuss your unique concerns with Harrisburg offer in compromise attorneys at the Law Offices of Craig A. Diehl, contact us today. We are conveniently located in Camp Hill, serving clients throughout Cumberland County, Dauphin County, and York County.
York, Pennsylvania, Tax Debt Relief Attorneys
Penalties and interest on taxes will cause your tax debt to grow at a fast rate, making it seem impossible to pay off, no matter what your intentions. Fortunately, an offer in compromise gives you the opportunity to pay your IRS tax debt at an extremely reduced rate. An offer in compromise is a submission to the government to reduce overall tax liability to a proposed amount that is calculated through two different components:
- Budget analysis, which is done by calculating the present value of your surplus monthly income over 65 months
- Net-worth test or analysis, which is basically a consideration of financial worth
The aggregate of the resulting amounts is what can be offered to resolve your tax liability. However, the negotiation process can be complicated — it is important that you work with an experienced tax attorney who understands the specific requirements to negotiate an offer in compromise.
Our tax lawyers can also assist in calculating tax debt on the resulting income after an offer in compromise has been accepted.