Offer In Compromise
What is an Offer in Compromise?
There is no legal right to have a valid tax bill reduced by the IRS; it is entirely a matter of government discretion.
The IRS defines an Offer in Compromise (OIC) as an agreement between a taxpayer and the Internal Revenue Service that settles a taxpayer's tax liabilities for less than the full amount owed.
If you think you may qualify for an Offer in Compromise, then our office can help pre-qualify you, confirm your eligibility and put a proposal together for you.
To make its determination,the IRS requires a full financial work-up of your situation to fully assess your ability to pay. Submitting an Offer in Compromise can be complex and time-consuming. You need knowledgeable tax accountants on your side to not only complete the paperwork, but also to:
If you find yourself in a situation where you owe money to the IRS that you can't pay in Full, there are several options available to you. One is an Offer in Compromise, through which you offer to pay the IRS less than the total you owe. Offer in Compromise are considered by the IRS on a case-by-case basis by looking at the following:
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