Offers in Compromise are defined as settlement agreements between taxpayers and the IRS for an amount lower than the one owed. To decide whether or not one qualifies for an IRS offer in compromise, the IRS has developed an assortment of formulas. These formulas, when correctly applied, result in taxpayers reaching federal tax relief settlements with the IRS. On the other hand, if these formulas are not applied properly, one's offer may be rejected or, even worse, the taxpayer may overpay. PowerTax Relief excels at using the Offer in Compromise process, which is a credible means of resolving federal tax liabilities.

Per the Internal Revenue Code, the IRS may choose to accept an amount that is lower than the one owed on personal or payroll taxes. In order for an Offer in Compromise to be initiated, taxpayers must successfully demonstrate either that they are unable to pay the amount that is due, or that they do not owe the amount due. Upon meeting these qualifications, one can save a great deal of money and avoid needing wage garnishment help in the future. Before even granting consideration to an offer, however, the IRS needs to review one's financial statements in their entirety. No assets, expenses or income can remain undisclosed. PowerTax Relief is able to assess your candidacy for an Offer in Compromise by implementing the formulas mentioned above.