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Vermont Offer in Compromise: What You Need to Know

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Vermont Offer in Compromise: What You Need to Know

An Offer in Compromise is an agreement between you and the State Government to settle your back taxes for less than you owe.

An Offer in Compromise is strictly based on numbers; basically, your income versus your expenses and the equity in your assets.

If you can prove to the State you do not have the ability to pay back your taxes in full before the Statute of Limitations expires, then you may be eligible to file an Offer in Compromise. However, it will depend on your Reasonable Collection Potential and how much time is left before Statute of Limitations on the debt expires.

 

Qualifying for an Offer in Compromise

Currently, Vermont does not have an Offer in Compromise Program.

 

Submitting Your Offer in Compromise

Currently, Vermont does not have an Offer in Compromise Program.

 

Offer in Compromise Pros and Cons

Currently, Vermont does not have an Offer in Compromise Program.

 

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