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IRSProblemsResolved.com Announces New Article Posted on Its Website Explaining Offers in Compromise

(PRWEB) August 1, 2007 -- Owing a large amount of money to the IRS for back taxes. One option that may be explored is the Offer in Compromise. A new article has been published about Offers in Compromise, sometimes called Offer and Compromise, on the website: http://www.irsproblemsresolved.com?pr=073007

The Offer in Compromise (OIC) allows individuals or businesses to settle tax debts with the IRS for an amount less than what is owed.

There are three conditions that a taxpayer can fall under to apply for OIC:

1. Doubt as to liability-- when the taxpayer claims that the IRS made a mistake and does not owe the money the IRS claims.

2. Doubt as to collectibility--when the taxpayer tells the IRS that he or she does not have the money or assets available to pay the debt, and never will.

3. Effective tax administration--when the taxpayer claims "special circumstances" because collection of the debt would create an undue hardship and would be unfair. This option is most often used for elderly or disabled taxpayers.

A new article published on IRSProblemsResolved.com's article section, which can be found here - http://www.irsproblemsresolved.com/A07302007.asp?pr=073007 - explains how this program works and explores the criteria that need to be met to qualify.

About IRSProblemsResolved.com:

IRSProblemsResolved.com believes that IRS or State Tax Problems can be eaisly resolved with the right help. Whether it's a tax lien, wage or bank levy/garnishment, missing tax returns etc. IRSProblemsResolved is there to provide assistance in dealing with the government. Visit IRSProblemsResolved.com to see the services we offer and be sure to check out our new Live Online Support. For more information check out http://www.irsproblemsresolved.com?pr=073007

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