The IRS knows that most people don’t have thousands of dollars in cash stuffed into their mattresses, so they’re willing to work with taxpayers to resolve unpaid bills. Depending on how much you owe, you might be able to clear your debt with a payment plan, but if you’re struggling to pay a bill for thousands of dollars, it might be time to negotiate. With the help of a tax resolution service, you may be able to work out an offer in compromise, reducing the amount you owe in taxes. Here are a few tips for getting your offer accepted.

How to Get an Offer in Compromise Accepted

1. File All Your Returns

Offers in compromise are only available to taxpayers who’ve submitted all the tax returns they’re legally obligated to. If you missed a year or haven’t filed since you were hit with the tax bill in question, you should file a return before submitting an offer, even if you didn’t have to pay any taxes.

2. Keep Paying Your Taxes

Many people put the brakes on their tax preparation hoping to direct as much money as possible to their compromise offer. However, the IRS wants to make sure you’re not digging yourself deeper into debt, so prioritize paying your current taxes.

3. Be Ready to Give a Reason

As part of your offer, you’ll have to explain why you’re unable to pay the taxes you owe. If the amount you owe dwarfs your income, you’re suffering from a serious medical condition, or you have limited earning potential, your offer is more likely to be accepted.

4. Hire a Tax Resolution Service

Filing an offer in compromise is more complicated than simply preparing your returns, and the government always wants to get the better end of the deal. So even if you know your way around tax preparation software, let a professional tax resolution service handle your offer in compromise.

Are you looking for a tax specialist to help get your offer in compromise accepted? With unmatched expertise and a reputation for outstanding customer service, ZP Tax, Inc. provides a wealth of tax services to clients throughout Montgomery County, MD. If you’re looking at a tax bill you just can’t pay, let their professionals work with the IRS on your behalf. Visit their website to learn more about their tax resolution services, or call (301) 587-4829 to discuss your options and make an appointment.