We were audited and the amount owed we can't afford to pay. We want to send a a letter of compromise
There is no such thing as a letter of compromise. If you want to prepare, file and argue your own offer in compromise then you will need to download the form 656 booklet from the IRS and do some google research on how to prepare file and argue your case.
You may qualify for an Offer-in-Compromise. In this regard, you should seek counsel from an experienced tax attorney.
My answer to your question does not constitute legal advise. Nor does it establish an attorney-client relationship.
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