Offer In Compromise (OIC)
If you are not sure, you may be asking yourself, "What is an 'Offer in Compromise?'" To keep it simple, an OIC is a standard type of settlement program that has been around for a number of years and is offered through the Internal Revenue Service [IRS] for delinquent and non-filing taxpayers to offer the IRS a smaller amount than what you actually owe.
Yet handling, processing and properly completing a successful settlement offer takes unique skills, thorough knowledge of the IRS codes, procedures, new laws, IRS methods and processing evaluations, and day-to-day, hands-on experience. That is where our expertise comes into play-this is what we do each day for a living. The IRS will not help you settle your account for the least amount possible, but we will!
Don't go down that road alone! Two-thirds of the direct or indirect offers submitted to the IRS last year were denied. Offers were returned and not accepted because of improper information, lack of experience and complete misunderstanding in how the IRS Offer-in-Compromise process program works. Of all the offers submitted, only one-third qualified.
There are principally three different types of offers:
