The Peck Group, LC
  • Comprehensive Tax Law Representation Since 1995

    We handle every aspect of tax law: preparing tax returns, representing clients during audits, resolving IRS and state tax controversies, and creating tax planning strategies for the future.

  • Problems With The IRS Or State Tax

    Our attorneys are committed to providing efficient and effective tax solutions for individuals and businesses in Georgia and nationwide.

  • Planning For The Future

    Our lawyers help individuals and businesses with all aspects of estate and tax planning. We help our clients use proactive strategies to minimize tax implications in the future

  • Changing The Balance Of Power

    Does it feel like the government has all the power? Taxpayers have rights, too. We use our knowledge of tax law to shift the balance of power and ensure that your rights are protected.

  • Tax Solutions … And Peace Of Mind

Can I make a deal with the IRS to repay back taxes?

If you owe money to the IRS, you can be in a very upsetting situation. Owing back taxes can create considerable challenges when it comes to events like buying a seek or seeking any type of loan, not to mention the financial penalties and the anxiety and fear that comes with government collection efforts.

For these and many other reasons, it can be critical that you not ignore this situation and figure out a way to deal with your back taxes. One option that you may be eligible to pursue is to make a compromise with the IRS. This is called an offer in compromise.

An offer in compromise is an option that allows people to settle tax debts for less than the full amount. However, it is only available to certain eligible people who are in specific situations.

In order to be eligible, you cannot be in open bankruptcy proceedings and you must be current with all filing requirements. So, if you did not file your taxes last year, you may not be able to pursue this option.

Further, you will need to show that paying back the full amount of taxes owed would create a very real financial hardship for you or that paying your full liability would simply be impossible. 

Many people wonder why the IRS would ever consider accepting less than what is owed from taxpayers, but the fact is that accepting a compromise can be the best way the agency can collect some amount of money in a reasonable time. Otherwise, it is likely that it would collect less over a longer period of time.

In order to determine if you qualify for and will want to pursue an offer in compromise, you will want to discuss your situation and your options with an attorney. There are many ways you can address back taxes, but it is crucial that you act quickly and seek the guidance of a person experienced in tax laws and procedures.

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The Peck Group, LC
5855 Sandy Springs Circle N.E., Suite 190
Atlanta, GA 30328

Phone: 770-884-6914
Fax: 770-933-2369
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