MARK KOHLERMain Street Professionals, Main Street Professionals, Main Street Professionals, Main Street Professionals, Main Street Professionals, LLC · Owner at Main Street Professionals, LLC

The "Pennies on the Dollar" Tax Scam 🚫

27 Apr 2026 · 1 min

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This content was created by MARK KOHLER. This content was uploaded by MARK KOHLER. This is a YouTube video titled "The \"Pennies on the Dollar\" Tax Scam 🚫" (created 2026-04-27) featuring MARK KOHLER. The excerpt is a spoken segment in which Mark warns viewers about commercials claiming they can settle IRS tax bills "for pennies on the dollar," explaining those offers-in-compromise are rare, require proving inability to pay (including filing an under-oath financial statement), and typically only apply when there is no foreseeable income — the glossy ads’ portrayals of wealth may not reflect reality.

Chapters

Oh, that sexy commercial at 2 in the morning when you're depressed. We settled with the IRS pennies on the dollar. We will get your tax bill down to nothing. You can call us. We will help you out. And you're like, you'll be tempted. You're going to want to call them and you go, holy crap, why am I doing an installment agreement? Mark and Matt are idiots. I can settle for pennies on the dollar. Please, please know that those are rare circumstances where you have to show the inability to pay. Yeah. So that little financial statement that you're having to file under oath, you better be dead broke and no foreseeable income in the future. That's when the IRS cuts these deals. The people in the commercial are sitting by a swimming pool in Florida and look like they're living the high life. Uh, that may be 5 years later because the IRS is not going to cut a deal with you on this offer and compromise because that's only if they're like, you're a waste of time,