Best Tax Preparation Services in Torrance, CA

While the IRS is not required to accept your offer, we conduct a detailed analysis during the initial consultation to determine the likelihood of your offer being accepted. Based on our experience and knowledge of IRS guidelines, we can advise on whether you are a good candidate for an offer and what a potential offer amount may be.

Generally, the entire process takes between 6 and 12 months. If the initial offer is rejected and an appeal is filed, it may take longer. However, during this entire time, the IRS will usually agree not to take any collection action on your account.

Upon receiving notice that the offer in compromise has been accepted, you can either make a lump sum payment within up to 90 days of acceptance, or make monthly payments over 24 months, or longer, until the offer amount is paid in full.

Yes. The offer in compromise may default if you do not remain in compliance with your tax filing and payment obligations for at least five years after the offer is accepted. This means that future tax returns must be filed, quarterly estimated tax payments made, and future tax obligations paid in a timely manner. If the offer does default, you would then be liable for the original balance, plus additional penalties and interest that would have accrued prior to default.

Our fees are based on a flat rate and will depend on the nature and complexity of your case. We will quote you the fee and the terms of our engagement during the initial consultation and provide this to you in writing. If you decide to move forward with our services, we ask that you pay a portion of the fee upfront, and the balance may be paid in monthly installments.