Jersey City Back Tax Debt Relief
Credit & Debt Services in Jersey City, NJ
An offer in compromise is an agreement between a taxpayer and the IRS that resolves the taxpayer's tax debt. The IRS has the authority to settle, or compromise, federal tax liabilities by accepting less than full payment under certain circumstances. A tax debt can be legally compromised for one of the following reasons: Doubt as to liability - Doubt exists that the assessed tax is correct; Doubt as to collectibility - Doubt exists that the taxpayer could ever pay the full amount of tax owed.