Offer in Compromise - What It Is | Los Angeles - San Diego| Flat Fee Tax Service
Updated: Jun 15, 2020
Offer in Compromise - IRS Tax Settlement - What It Is -
Los Angeles - San Diego - California
The IRS has a tax settlement program known as an Offer in Compromise (OIC) which provides financially taxpayers who can pay their monthly bills but have nothing left over an opportunity to settle their tax debts, including interest and penalties, for a lump sum which is drastically less than the total amount owed. Some tax settlement companies advertise this as if it is a brand new or limited time program. In fact, the Offer in Compromise program has been are right there in the 1954 version of the Internal Revenue Code. Over the years the IRS has, at least based upon its official guidelines, become more lenient. A successful Offer in Compromise can be a lot of hard work to convince the IRS that the offered tax settlement is valid and is the appropriate solution.