The IRS Code states: "We will accept an Offer in Compromise when it is unlikely that we can collect the
full amount owed and the amount you offer reasonably reflects the collection potential..." (Internal Revenue Code
section 7122).
Often it is possible to fully and completely eliminate the taxes you owe - including all penalties and
interest - at an enormous discount. There is no preset bottom limit that the IRS will accept to settle your debt
especially if your offer is done "right."
If done correctly your debt may be settled for only 5-15% of what you presently owe. The key is to determine
the least amount that the IRS will accept from you before you make the offer.
