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Tag: Offer in compromise application

How to Qualify for an Offer in Compromise Program

Offer in Compromise Qualification

If you owe taxes but you cannot afford to pay off your entire debt, you can try to qualify for an Offer in Compromise (OIC).  While working with a tax attorney, you can make an offer to the IRS stating what you can afford to pay – typically for less than what you owe.

How an Offer In Compromise (OIC) Works

Do you owe back taxes to the IRS?  Until your debt is paid in full, the federal agency can assess penalties, interest, and more.  Fortunately, you have options on how to settle your debt with the IRS.  One solution is an Offer in Compromise.