Ohio Firm Prepares Offers in Compromise for Clients Who Owe Taxes

Canton attorney works to relieve federal and state tax obligations

When circumstances have made it impossible for you to pay the full amount of taxes that you owe to the IRS or the State of Ohio, there is a way to work out a settlement plan. Through an offer in compromise (OIC), you can pay a share of your obligation in exchange for an agreement that the taxing authority will halt any further actions against you. My Canton law firm, Douglas D. Jones Co., LPA, advises individual and business clients as to whether an OIC might be a suitable solution. Should you choose to exercise this option, I will prepare the necessary materials and counsel you on what type of offer would likely be accepted by federal or state tax authorities.

Skillful advocate works to maximize the likelihood of IRS approval

Choosing to seek an offer in compromise might seem like an easy decision, but securing agreement from the government can be complicated. I understand how these decisions are made and can develop compelling cases so that clients have a fair opportunity to put their tax problems behind them. My firm provides comprehensive counsel on:

  • Eligibility — All relevant tax returns must be on file with the IRS before you begin the OIC process, which can last many months. My firm can help you complete these documents and other forms necessary to support your application.
  • Factors — Reviewers from the IRS analyze the submitted financial information to determine how much they can reasonably expect to collect given your income, asset equity and expenses. If the amount offered approximates what the IRS could obtain in a reasonable period of time, there is a good chance that your OIC will be approved.
  • Process — Depending on your situation, you can satisfy your obligation all at once or through periodic payments. When a lump-sum arrangement is offered, 20 percent of the total must be sent with the OIC application. Otherwise, one monthly installment must be included. While your request is being reviewed, the IRS will stop collection actions.

In situations where an offer in compromise has been rejected, my firm examines the pertinent information and can file an appeal on your behalf if there is a legitimate possibility that the decision will be reversed.

Effective lawyer represents clients in Ohio state tax matters

An offer in compromise for Ohio taxes is submitted to the state Attorney General’s Office. The tax liability must be for at least $500 and have been subject to collection for at least one year. If you are facing economic hardship and cannot pay what you currently owe the state, I’ll review the situation and help you determine if an OIC is warranted or if you should seek a settlement in which you satisfy the original balance but obtain relief on accrued interest and penalties.

Contact an Ohio tax lawyer for a free consultation about an offer in compromise

Douglas D. Jones Co., LPA assists northeast Ohio residents with offers in compromise and other tax issues. To set up a free initial consultation to discuss your matter, please call 330-649-2372 or contact me online. My office is located in Canton.

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