IRS Offer in Compromise (OIC)
If you owe more to the IRS than you can realistically afford to pay, you may qualify for an Offer in Compromise (OIC). This IRS program allows eligible taxpayers to settle their tax debt for less than the full amount owed.
The IRS reviews several factors before approving an Offer in Compromise, including your:
- Income
- Monthly expenses
- Assets
- Ability to pay now and in the future
Because the IRS has strict eligibility requirements, not everyone qualifies.
Is an Offer in Compromise Right for You?
An Offer in Compromise can provide significant tax relief, but it’s also one of the most closely reviewed IRS programs. Before submitting an application, it’s important to determine whether this option is the best fit for your financial situation.
Submitting an application that doesn’t meet IRS requirements can result in delays, additional costs, and a denial.
What Information Will You Need?
The IRS requires a detailed financial review as part of the application process. This may include information about:
Your Assets
- Home equity and real estate
- Vehicles
- Retirement accounts
- Investment accounts
- Bank account balances
Your Income
- Wages or salary
- Self-employment income
- Business income
- Rental income
- Investment income
- Other sources of income
Your Monthly Expenses
- Housing costs
- Utilities
- Transportation
- Health insurance and medical expenses
- Child support or alimony
- Taxes
- Other necessary living expenses
The IRS uses this information to determine whether the amount you offer represents the most it can reasonably expect to collect.
How We Can Help
An Offer in Compromise application requires detailed financial documentation and careful preparation. Our team will evaluate your eligibility, explain your options, prepare the required IRS forms, and help ensure your application is complete and accurate.
Led by CPA Roland Zita, with support from experienced Enrolled Agents and tax resolution professionals, we work directly with the IRS to pursue the best possible resolution for your unique financial situation.
If an Offer in Compromise isn’t the right solution, we’ll help you explore other IRS relief options, such as installment agreements, penalty relief, or Currently Not Collectible status.
Schedule a Free Consultation
If you’re struggling with IRS tax debt, you may have more options than you realize.
Schedule a free, confidential consultation to find out whether an Offer in Compromise or another IRS tax relief program is the right solution for you.