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OIC may give you a “fresh start” by wiping out your tax debt.

OIC may give you a “fresh start” by wiping out your tax debt.

Offers in Compromise or "OIC"

If you have no real income and no significant assets an OIC may give you a "fresh start" by wiping out your tax debt. Our lawyers can help!

Do you want to reduce your IRS tax debt? Settlement through an "offer in compromise" may be the answer. What is an "offer in compromise" or "OIC"?

An OIC allows a taxpayer who cannot afford to fully pay his back tax liability the chance to settle . . . once and for all . . . for less than the amount he owes!

The IRS does not accept every "offer in compromise". It has certain guidelines it considers. The main thing that the IRS looks at closely is the taxpayer's financial situation -- past, present, and future.

The "offer in compromise" process is complicated. It involves completing several IRS forms, gathering and organizing necessary financial records, complying with the IRS tax regulations and ultimately filing the "offer" for review with the IRS.

Unfortunately, many taxpayers who file an IRS "offer" have it returned by the IRS for "technical" reasons, like a missing form. This means that the "offer" never makes it to a point of final IRS review. So, satisfying the maze of IRS procedural requirements is necessary for an "offer in compromise" to even be reviewed by the IRS.

We have successfully filed and obtained several OIC's for our clients.

To find out whether you qualify for a tax debt settlement call us confidentially or complete our confidential contact form to schedule your FREE initial consultation.