My income is low, but I want to settle my problems with the IRS. Can I afford an offer in compromise? Can I afford an Oklahoma City tax lawyer?

Yes, you may still be able to afford an offer in compromise and an Oklahoma City tax lawyer if you have a low income. There are several things that you should consider when deciding whether you have the money to pay the IRS and an Oklahoma City tax attorney. Those things include:

  • Whether you qualify for any low-income exceptions. For example, if you meet the low-income certification guidelines for an offer in compromise, then you may not have to submit your initial payment with your offer, you may not need to make periodic payments while the offer is pending, and you may qualify for other exceptions.
  • What you risk by failing to settle with the IRS. You may end up owing the IRS a lot more money if you fail to acknowledge and settle your outstanding tax debts.
  • What you risk by failing to contact an Oklahoma City tax lawyer. You may end up paying the IRS more than you have to without the help of an experienced attorney.

It is always important to be honest with your Oklahoma City tax attorney about your current income, your assets, and your projected income. Together, you and your Oklahoma tax lawyer can make the decisions that best achieve your financial goals and legal responsibilities. For more information, we encourage you to read our FREE book, The Ultimate Survival Guide for IRS Problems, and to call us at 800-721-7054 to schedule an initial consultation.