Offers in Compromise

An Offer in Compromise could be just the solution you need. Find out today.

Maybe you didn’t know that the IRS has an Offer in Compromise program that can be utilized by the tax payer when liability has been incorrectly assessed or when total liability is more than you can afford to pay.

When presented correctly to the IRS, this might mean your tax liability is entirely eliminated for as little as 5-15% of the total amount.

Our experienced tax specialists can help you determine if you might qualify for an Offer in Compromise, or if a tax payment plan would be the better route for you to go.

We can help you solve your tax problems.

Fill out the form below for a FREE consultation.

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Unreported Crypto Gains? How Mobile, AL Taxpayers Can Fix Past Tax Returns

Quick Answer: If you failed to report crypto gains on previous tax returns, start by reconstructing your transactions and calculating what you actually earned. From there, we can determine which returns need correcting. Accidental omissions can generally be...

The Willis Firm PC’s Guide: Can You Give Employees Tax Free Bonuses for the Holidays?

 Quick Answer: You can’t give tax-free cash or gift cards for the holidays, as the IRS classifies all cash-equivalent bonuses as taxable wages regardless of the amount. However, you can legally provide tax-free holiday bonuses through non-cash tangible gifts,...

Types of Prepaid Expenses to Optimize Your Mobile, AL Business’s Cash Flow Before Dec 31

 Quick Answer: If you run a cash-basis business, you can lock in immediate tax savings on upcoming 2027 operating costs by paying those vendor bills before December 31. Under the IRS 12-month rule, that prepayment cuts your 2026 taxable profit dollar for dollar,...

The Willis Firm PC’s Take: How Much Cash Should A Business Have On Hand?

 Quick Answer: Keep three to six months of baseline operating expenses in liquid reserves, alongside a separate tax account holding 15% to 30% of weekly gross receipts. Having that buffer with a Quick Ratio of at least 1.0 means you'll protect daily operations...

How The Bad Business Debt Deduction Could Lower Your 2026 Mobile, AL Business Taxes

 Quick Answer: Uncollectible business receivables convert into ordinary losses that reduce your active net profit dollar-for-dollar without a ceiling. To lock in this tax offset before year-end, you'll need to execute a formal general ledger charge-off on...

Can ChatGPT Help With Taxes? A Guide for Mobile, AL Taxpayers

 Quick Answer: ChatGPT can explain tax terms, summarize IRS notices, and give you general information about collection options. But it should not be the only source you use to calculate things like an Offer in Compromise or which path to choose for your IRS...

How To Fix Common QuickBooks Online Problems Mobile, AL Small Business Owners Face

 Quick Answer: To fix common QuickBooks Online problems, audit your bank feed queue to ensure transactions are matched to open invoices and transfers rather than blindly clicked as "Add," which eliminates duplicate revenue and miscoded expenses. From there,...

How to Elect S Corp Status: Mobile, AL Tax Resolution Guide

 Quick Answer: If you missed the IRS deadline, you can still secure retroactive approval and protect your business's tax savings. Through IRS late-election relief, qualifying businesses can backdate their S corp status up to three years and 75 days....

The Mobile, AL Small Business Q3 Payroll Checklist for a Painless Year-End Close

 Quick Answer: Your pre-year end payroll checklist should include reviewing new OBBBA wage codes, collecting missing 1099 tax forms, and aligning your payroll accounts with your general ledger. Completing this cleanup in September protects your business...

What Are the Tax Mistakes New Mobile, AL Business Owners Make?

 Quick Answer: Some of the biggest tax mistakes new business owners make include using personal credit cards for business expenses, guessing on startup cost write-offs, and failing to keep track of receipts for deduction proof.Key Takeaways:Opening a...

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