Get help with settle crypto tax debt for less. 32 years resolving IRS problems. Free consultation from a crypto tax attorney.
Settling with the IRS for less than you owe sounds too good to be true, but it is a real program with specific rules. If you are researching settle crypto tax debt for less, here is what actually happens.
OIC Eligibility
Not everyone qualifies. You must be current on all filing obligations. You must be making current estimated tax payments if required. You cannot be in an open bankruptcy. And your offer amount must at least equal your Reasonable Collection Potential. Meeting these requirements before submitting is essential.
Why Crypto Cases Are Strong OIC Candidates
Crypto tax debt often features a massive gap between the liability amount and the taxpayer current ability to pay. The gains were real when they occurred, but the money may be gone. The IRS evaluates ability to pay based on current circumstances, not historical ones. This makes crypto crash victims some of the strongest OIC candidates I see.
The Application Process
You submit Form 656 with the $205 application fee and a 20% down payment of your offer amount. You include Form 433-A with detailed financial disclosure. The IRS assigns an offer examiner who verifies your financial information. The process takes 6-12 months on average, and collection activity is suspended while your offer is under review.
After Acceptance
Once accepted, you must remain in tax compliance for five years. That means filing all returns on time and paying all taxes owed. If you violate the compliance terms, the IRS can default the agreement and reinstate the original balance minus payments made.
Get Crypto Tax Help Now
Dealing with settle crypto tax debt for less can feel overwhelming, but there are options. Call the Law Offices of Darrin T. Mish, P.A. at (813) 229-7100 for a free consultation. We have resolved over $100 million in IRS tax debt.