How Often Does the IRS Accept an Offer in Compromise

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In this video, we tackle one of the most common questions taxpayers have: How often does the IRS accept an Offer in Compromise (OIC)? If you’re struggling with tax debt, understanding the OIC process is crucial to finding a path toward financial relief.

According to the latest data from the IRS in 2023, the agency received 3,163 offers and approved 1,271 of them, resulting in an acceptance rate of approximately 42%. While this percentage shows that the IRS is selective, it also highlights that with the right approach, you can improve your chances of getting your offer approved.

So, what exactly does it take for the IRS to accept your Offer in Compromise? The key lies in presenting a proposal that accurately reflects your Reasonable Collection Potential (RCP). The IRS will closely evaluate your financial situation, including your income, expenses, and assets, to determine whether your offer is fair and achievable.

To boost your chances of approval, it’s essential to provide accurate financial information and to submit the necessary documentation promptly. Any discrepancies or delays can jeopardize your offer, so being thorough and timely is paramount.

Working with a tax professional can make a significant difference in this process. At Best Tax Pro, we specialize in helping clients navigate the complexities of tax issues, including Offers in Compromise. Our team has the experience and knowledge to ensure that your offer is well-prepared and presented in the best possible light.

In this video, I’ll also share some valuable tips on what the IRS looks for when evaluating your offer. Whether it’s ensuring that your financial statements are clear or understanding how to calculate your RCP accurately, we’ll cover everything you need to know to make your offer as strong as possible.

If you find this information helpful, don’t forget to hit the like button and subscribe for more tax tips and updates. Should you have a persistent tax question or need personalized assistance, please feel free to give us a call at 763-477-4205 or click the link in the description below to schedule a consultation.

Let’s work together to engineer the best exit strategy from your tax problem. I’m Josh with Best Tax Pro, and I hope this video provides you with the insights you need to move forward confidently in your journey toward tax relief. Thank you for watching!

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Contact Us:
💻 Visit our website for more info: https://www.besttaxpro.com/
📨 Email us at [email protected]
📞 Call us for solutions: 763-878-8481

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