If you’re experiencing financial hardship, especially during the current health crisis, dealing with tax debt can make your situation more complicated. Thankfully, an offer in compromise could be the solution to obtain tax debt relief. If you demonstrate to the IRS that you have the ability to pay the offer in compromise, you can be well on your way to becoming tax debt-free. Our Los Angeles tax attorneys explain how long an offer in compromise takes to be accepted.
Offer in Compromise Process Time
The processing time for an offer in compromise may vary depending on your unique case.
How Long Does it Take to Get an Offer?
In most cases, the IRS takes about six months to decide whether to accept or reject your offer in compromise. However, if you have to dispute or appeal their decision, the process can take much longer. There are cases when the IRS won’t even look at your offer in compromise.
Why You May Get Rejected
You may receive an automatic rejection for the following reasons:
- If you haven’t filled all required tax returns for all tax years
- If you have an open bankruptcy case
- If you didn’t pay the required application fee
- If you didn’t pay the initial payment required or you didn’t pay your monthly payments
How Can I Get My Offer in Compromise Accepted Quickly?
If you want to get your offer in compromise accepted as quickly as possible, you need to prevent submitting your application with any mistakes. The best way to ensure that your offer in compromise is submitted correctly is to have an experienced tax attorney guide you through the process. Our team at The Blue Law Group has years of experience helping people assess their chances of receiving an offer in compromise, even when they didn’t think they would qualify. Our Rancho Cucamonga tax attorneys have the knowledge, skills, and experience needed to help you achieve your desired outcome.