An offer in compromise or “OIC” is a contractual agreement between a taxpayer and the internal revenue service that fully satisfies a tax liability with a payment that is less than the total amount owed. Once the offer in compromise is accepted and payment made, any federal tax liens are released. There are criteria and requirements to qualify for submission and acceptance of an offer. It is a resolution that provides a fresh start for those who see no way out of their tax debt.
A large percentage of offers are summarily rejected due to incomplete or insufficient information/documentation provided. Not every offer is accepted. If you would like to know if you might be a candidate for an irs offer in compromise, please contact me and i will provide you with all the information you need to decide if this resolution is right for you.