How long will it take to resolve my debt?
That ultimately depends on your situation. If you respond quickly to requests from the IRS, your chances look better than if you have put it off for a while.
I you have everything that you need organized, such as documents and tax forms, then the process will go by much faster. However, if there are tax forms that you have not yet filed then everything will take longer than usual. Our team will provide you with all of the information and tools that you need to get organized and get your debt resolved. As your first step, contact us. We will get working on your case so that you can have the solution you are looking for.
How do I know if I qualify for an Offer in Compromise? How long will it take to know if I am accepted or rejected?
An Offer in Compromise is used to help those that cannot pay their debt in full; if they were to do so, they would suffer from great financial hardship. One of the only ways to find out if you are eligible is to have a professional go over your financial situation. We can help you compile the documents needed and assess your situation to give you an idea of whether or not it would be worth pursuing with the IRS.
The IRS charges a fee of $150 to turn an OIC application, and without all needed documents, it would be a waste of money. So, let us help you so that you do not waste any money when dealing with them.
Typically, after turning in this application, it takes 3-9 month to determine if you are accepted or rejected. It all depends on how complicated your case is and how much you owe. They will send you a notice when they get your application and will begin processing it. Just know that they can work with you for up to two years in order to come to a compromise! After two years passes from when you get that notice, you are automatically accepted if they have not given you a solid answer.