Lake City: Bankruptcy or Offer in Compromise?

Services for Real Estate Pros with New Life Tax Resolution

I represent taxpayers in Lake City and  Florida who have tax issues, including Offer in Compromise. I've seen an increase in the number of folks contacting us considering bankruptcy for their business. I show them the Offer in Compromise.

When you are considering bankruptcy as a method for IRS financial pain relief.... hold on. Prior to filing bankruptcy I would suggest you review an Offer in Compromise as a viable alternative.

Ask yourself : Will bankruptcy create a negative effect on your business? Offer in Compromise?

Are you filing bankruptcy primarily due to an outstanding tax bill? Offer in Compromise?

Are the taxes you owe dischargeable in bankruptcy?  Offer in Compromise?

What amount would be acceptable to the IRS in an Offer in Compromise?

An Offer in Compromise would settle tax debt and immediately have a positive effect on credit scores.

Are all taxes dischargeable in bankruptcy?   The answer is no!    Nothing disappoints a person more than completing the  process of bankruptcy only to receive a tax bill from the IRS after your bankruptcy was finalized.  Offer in Compromise is a viable option.

Prior to bankkruptcy,  evaluate the following question; "Do I have enough additional debts besides, the taxes owed to the IRS, to consider bankruptcy"? This may be the determining factor in your final decision otherwise consider the Offer in Compromise.

If you decide to see a bankruptcy attorney she will prescribe her specialty; Filing Bankruptcy. Ask if all taxes will be discharged. Ask about the Offer in Compromise.

If you or someone you know is facing these questions, has  unfiled tax returns or are looking at an Offer in Compromise or other tax issue, please feel free to contact me at either (407) 287-6638 or by email

Patrick LeClaire, Enrolled Agent

New Life Tax Resolution

Lake City, Florida

Ph. (407) 287-6638

Fax (727) 270-8947


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Patrick LeClaire Enrolled Agent

Your Tax Resolution firm in Lake City Florida
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