IRS question...anyone ever do an offer and compromise?

[Anonymous]

I know this may be beyond the scope of this board but since I am fortunate enough to have credit problems AND tax issues at the same time, I figured I may not be alone on this. Anyways, I owe back taxes over $25K and I have decided to try an "offer and compromise" with the IRS. I guess the deal is that I fill out a financial statement and then make a "reasonable" offer and hope they bite. I just don't know what is "reasonable". 80%? 50%? Maybe less? Anyways any help would be appreciated.

[Anonymous]

IMO     I would hire a lawyer that deals with the IRS.........because of the amount that you owe.

When they accept less + intrest that you owe I think that much has to due with your income now.

[smallfry]

The trick is to find someone who used to work for the IRS. I did. Paid 10 cents on the Dollar. You will have to find someone who is very sharp. They know what to say and what not to say. IF you decide to do this yourself I believe they will require 20% of the amount offered when you send in the paperwork.
It cost me 10K and the issue was resolved by him and him alone. In my situation it was worth it but for 25K you might be better starting with the taxpayer advocate. IF your family knows some good tax lawyers they should be able to reco someone who can sit down with you for 30 minutes for free who can tell you your best options. Do not do this blind from the Yellow Pages.
Good luck the IRS can be reasonable if they don't think you are trying to take advantage of them. The clock is ticking get on it.