You’ve heard the promises:

“We’ll settle your tax debt for pennies on the dollar!”
“Only pay 10% of what you owe!”

It sounds amazing — especially if you’re overwhelmed by IRS letters or bank levy threats.

But is it true?

The answer: sometimes — for the right people. And only if the settlement is done correctly.



At Summit Tax Relief, we help Oklahoma taxpayers understand what’s real, what’s hype, and how to qualify for actual debt reduction through the IRS Offer in Compromise (OIC) program.

Where Does the "10 Cents on the Dollar" Claim Come From?

It comes from legitimate cases settled through the Offer in Compromise program — the IRS’s way of accepting less than full payment if the taxpayer genuinely cannot afford to pay.



Examples:

• Someone owes $74,000 and settles for $7,200
  
  
• A retiree on fixed income settles $24,000 for $500
  
  
• A failed business owner gets $110,000 settled for $8,000
  
  

These happen — but only when the IRS determines the taxpayer’s reasonable collection potential (RCP) is lower than the total balance.

What Is Reasonable Collection Potential (RCP)?

This is the IRS’s calculation of what they believe they can realistically collect from you — based on:



• Your monthly income
  
  
• Your allowable living expenses
  
  
• Equity in assets (home, cars, savings, etc.)
  
  
• Future earning potential
  
  

If your RCP is less than your total debt, they may consider settling.

The IRS doesn’t care what you owe. They care what they can collect.

Who Actually Qualifies for Settlements?

You may qualify for an Offer in Compromise if:



• You can’t afford to pay in full, even over time
  
  
• You have little to no equity in real estate or assets
  
  
• You earn modest income compared to your household expenses
  
  
• You’re not in bankruptcy
  
  

You’re current on all required filings (even if not paid)

Oklahoma Case Example

Client: Landscaper in Norman, OK



• Owed $38,000 from unfiled self-employment taxes
  
  
• Monthly income: $2,200; Expenses: $2,180
  
  
• No home, no retirement assets, one used truck
  
  
• IRS accepted Offer for $900 total
  
  

Debt cleared, no levy, no payment plan

Who Probably Won’t Qualify for a Pennies-on-the-Dollar Settlement?

• You make $150K+/year with no dependents
  
  
• You have significant equity in a home, rental property, or IRA
  
  
• You could realistically pay the full debt over 5–7 years
  
  
• You’re self-employed with net income but no proof of expenses
  
  
• You owe less than $10K and can pay within 24 months
  
  

In these cases, you may still qualify for:



• Installment Agreements
  
  
• Partial-pay plans
  
  
• Penalty abatement
  
  

CNC (Currently Not Collectible) status

What Happens If You Submit a Bad Offer?

• The IRS rejects it and continues collections
  
  
• You lose time and money
  
  
• You may waive appeal rights
  
  
• You might be locked into an installment plan instead
  
  

That’s why working with a licensed, local expert like Summit Tax Relief is critical.

Why Work With Summit Tax Relief?

• Oklahoma-based, led by a licensed CPA
  
  
• We only take on cases we believe have real settlement potential
  
  
• We prepare your financials (433-A/OIC) professionally and accurately
  
  
• We speak directly with IRS Offer examiners
  
  
• Flat-rate pricing — no empty promises, no pressure

Internal Links

• Who Qualifies for an IRS Offer in Compromise
  
  
• IRS Form 433-A – What It Is and Why It Matters
  
  
• IRS CP504 Notice – What It Means and What to Do

Call to Action

If you’ve heard the “10 cents on the dollar” claim and want to know if you really qualify — let’s talk. We’ll give you a real answer, not a sales pitch.

📞 Call Summit Tax Relief at (833) 477-4911
📅 Schedule Your Free Strategy Call

FAQ

📣 About the Author

Marc Boulanger, CPA is the founder of Summit Tax Relief LLC, a boutique tax resolution firm based in Oklahoma City, OK and trusted by high-income individuals and business owners across Oklahoma.

He is the author of Oklahoma Taxpayers' Guide: Taking A Stand Against the IRS: A Step-by-Step Plan for Dealing With Tax Collectors and Unfiled Returns Without Going Broke, available now on Amazon. The book offers a step-by-step plan for resolving IRS tax debt without losing your business, your home, or your peace of mind.

With over a decade of experience resolving high-stakes IRS and State tax matters, Marc brings strategic insight to complex cases involving wage garnishments, bank levies, unfiled returns, and six-figure tax debts. He is known for helping clients reduce or eliminate tax liabilities through expertly negotiated settlements and compliance plans.

Marc is a Certified Public Accountant licensed in California and Oklahoma and holds the designation of Certified Tax Representation Consultant. He is a member of the American Society of Tax Problem Solvers (ASTPS) — the national organization founded by the educators and practitioners who have trained thousands of CPAs, EAs, and tax attorneys in IRS representation strategy.

Every case is handled with discretion, proven methodology, and direct CPA-led representation — not call center scripts.

📍 Learn more at www.summittaxrelief.com or call (833) 477-4911.