At Kansas City Tax Mediation, we understand that only between 10-20% of Offer in Compromise petitions are ever accepted. We also understand that there are a lot of drawbacks to filing for an Offer in Compromise (for example, it forces a taxpayer to give a full financial statement to the IRS, it extends the ten year collection statute, it takes a lot of time and the fees for it are very high). We know that many out of state tax resolution companies push the Offer in Compromise onto clients because that allows them to charge high fees, and because it allows them to claim to settle their tax debt for “pennies on the dollar.”
An Offer in Compromise is complex, it’s time consuming and it’s the administrative equivalent to a bankruptcy, although an Offer in Compromise does not appear on your credit report.
Kansas City Tax Mediation takes a more honest and measured approach. Our attitude is that nobody should be sold a solution before knowing if they have a realistic chance of being approved, especially when thousands of dollars of fees are at stake! That’s why we always propose to our tax clients that they hire us to perform an Optimum Resolution Analysis, for a much smaller fee, to come up with a plan. If they want to hire us to execute that plan, fine; if not, in some cases they can do it themselves. It’s a more honest approach when you compare it to pushing an Offer in Compromise in order to charge higher fees.
Set up an appointment with Kansas City Tax Mediation. It’s free, it’s face to face and it will be with a CPA, not a salesman. You’ll leave feeling better about your tax situation. Kansas City Tax Mediation: Let’s get through this together.