The reduction depends on your specific financial situation, but the results can be dramatic. Through Offer in Compromise, eligible taxpayers can settle their debt for as little as 10-20% of what they owe. We’ve seen clients with $50,000 tax bills settle for $5,000 or less.
For Thompson residents facing financial hardship, the program considers your actual ability to pay—not just what the IRS wants. If you’re living paycheck to paycheck or dealing with unemployment, the IRS may accept far less than the full amount.
Even if you don’t qualify for a major reduction, we can often eliminate penalties and interest, set up affordable payment plans, or get your account marked Currently Not Collectible until your financial situation improves.