Anticipating a lot of Offers in Compromise this Year?

It has been reported that there is a tax gap of $385 billion between taxes owed and taxes not collected; and $450 billion between taxes owed and taxes not voluntarily reported. The latter figure excludes taxes collected after IRS enforcement activity.

The IRS Data Book reports that for the Fiscal Year 2012, the IRS accepted 24,000 Offers in Compromise (OIC) out of the 64,000 submitted. So, 38% were accepted, but 62% were not.

You may be busier than you thought. And generating more business. Take a look how you can.

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