Clients who are contemplating submission of an Offer in Compromise frequently ask: "What will it cost to submit the Offer?" Unfortunately, the best answer is: "It depends."
In order to provide some rough idea of what it may cost, in terms of professional fees, to complete an Offer, we looked at eighteen prior matters handled by our firm and totaled the professional fees involved. It should be noted that in some of these cases, the matter is not yet finally resolved.
The figures suggest that the average amount of fees to complete the submission of an Offer in Compromise was $20,043, with the totals ranging from $8,261 to $36,511. These matters cover a wide range of situations, involving both individual and corporate clients. A number of variables affect the total costs, including, the uncertainties and difficulty of dealing with the IRS and other factors that are unique to each situation.
For these reasons, this firm's policy is not to quote a fixed or maximum fee for handling such matters. Further, we question the policies of those who quote a fixed fee for any type of tax representation.
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Page updated August 19, 2004