Calculate Your Eligibility for an IRS Offer in Compromise
If you are unable to pay what you owe the IRS, you may be able to make an offer to pay less. The calculation is based on on your assets and income after expenses. The IRS allows only certain expenses that vary based on where you live. Use this calculator to figure roughly whether you might qualify to reduce your tax debt by submitting an Offer in Compromise to the IRS.
NEW: May 24, 2012 – The IRS reduced the income portion for an Offer in Compromise. This will make qualifying for an Offer in Compromise much easier. If you did not qualify in the past, use this updated calculator to evaluate your options again.The actual calculations are more complex. Call me for a more detailed and accurate calculation. As an Enrolled Agent and tax resolution specialist, I am qualified to calculate and submit your Offer in Compromise to IRS.
How to use the Offer in Compromise Calculator:
- Enter all positive numbers
- Skip any unnecessary fields
- Enter assets, loans, income, expenses, and amount owed
- Click Calculate to see results
- If you make changes, click Calculate again to see the new results