The IRS Code states: "We will accept an Offer in Compromise when it is unlikely that we can collect the
full amount owed and the amount you offer reasonably reflects the collection potential..." (Internal Revenue Code
section 7122).
It is possible sometimes to fully and completely eliminate the taxes you owe at an enormous discount. There is no preset bottom limit that the IRS will accept to settle your debt.
If done correctly your debt may be settled for a small percentage of what you presently owe. The key is to determine
the least amount the IRS will accept from you before you make the offer.
