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Showing posts from March, 2012

State of Colorado Offer in Compromise Program

In order to get the State of Colorado to accept an Offer in Compromise on your back taxes you will first need the IRS to approve one for the same tax periods.  Which makes sense.  Most states will strongly consider the acceptance of an Offer in Compromise once the IRS has agreed to one for the same periods.  Taken from the Colorado Department of Revenue's site (original site: here)
Offer in Compromise of Tax Liability
Under certain circumstances the Department may accept a taxpayer's offer to settle their tax liability for less than the full amount due. Taxpayers who meet the following qualifications may initiate the process by submitting the documentation listed below. The taxpayer bears the burden of establishing the grounds for a potential settlement and has no legal entitlement to have any tax liability settled through an Offer in Compromise. Any submitted offer must reflect the taxpayer's maximum capacity to pay. The Department reserves the right to conduct an i…