You have the right to file more than one Offer in Compromise. If your first Offer in Compromise is rejected, then you may file another one, and it may be approved. However, you want your first Offer in Compromise to be successful for some important reasons.
Three Reasons to Make Your First Offer in Compromise the One That Is Accepted
While you might have another chance at success, it is important to be aware of the potential benefits of having your first Offer in Compromise accepted by the IRS. Those benefits may include:
- Paying less money to the IRS. Every time you file an Offer in Compromise, you will have to pay a filing fee. You must also pay a percentage of your tax debt with your Offer.
- Less stress, since the whole thing will be settled sooner. You may sleep better at night knowing that your tax problems are under control and having certainty about its resolution.
- More certainty about your financial future because the whole thing will be settled sooner. You may be better able to plan your financial future with certainty about what you will be paying to the government and when you will be paying it.
There are no benefits to filing subsequent Offers in Compromise, unless, of course, your first Offer in Compromise was rejected.
Call an Experienced Norman Tax Attorney for Help
If you owe the IRS money, and you are considering filing an Offer in Compromise to handle your outstanding tax problem, then we encourage you to contact an experienced Norman tax lawyer today at 800-721-7054 and to read our book, The Ultimate Survival Guide for IRS Problems, which is available for FREE on our website.