From The Desk of Keith L. Jones, CPA
What is Offer in Compromise?
There are a few ways to get Tax Problem Solutions from the IRS. You can claim a deduction for certain expenses, you can reduce your taxable income with credits, or you can exclude income from taxation, each method depends on your individual circumstances.
For example, you may be able to deduct certain medical expenses if they exceed 10% of your adjusted gross income. Or, you could receive a credit for paying child care expenses. There are also a number of tax exemptions available, such as the Earned Income Tax Credit or the Child Tax Credit. Be sure to explore all of your options and speak with a qualified tax specialist to find the right solution for you.
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