The Offer in Compromise (OIC) is an IRS program that allows a taxpayer to settle his/her delinquent taxes for less than the total amount the IRS claims they owe. Although this program may sound too good to be true, it’s legitimate. However, not all people will qualify for an Offer in Compromise.

As the world’s most powerful collection agency, the IRS is good at collecting money from delinquent taxpayers. As part of their collection efforts, the IRS must analyze which taxpayers actually have the ability to repay their tax debts and which persons simply do not. If the IRS determines that you cannot “full pay” your tax debt, they may be willing to settle your tax debt for less than what you allegedly owe. Conversely, if the IRS determines that you have the ability to pay all of your tax debt, they will not be interested in settling your tax debt on the basis of what they call “Doubt as to Collectibility.”

An experienced tax attorney can assist you in determining whether you would be a good candidate for an Offer in Compromise.

Contact me today at 865-566-0125 to see if the Offer in Compromise Program is right for you.