Offer in Compromise: A Comprehensive Guide to Settling Tax Debt
By Jason Mathis, I help people and businesses resolve tax debt!
(Mathis Tax Service)
Facing overwhelming tax debt can be a daunting experience. Fortunately, the Internal Revenue Service (IRS) offers a potential solution known as an Offer in Compromise (OIC). This comprehensive guide aims to shed light on the Offer in Compromise program, providing you with the knowledge needed to navigate the process and potentially settle your tax debt for less than the full amount owed.Understanding Offer in Compromise:An Offer in Compromise is an agreement between a taxpayer and the IRS that allows the taxpayer to settle their tax debt for less than the total amount owed. It is designed to provide individuals and businesses experiencing financial hardship with a fresh start and a realistic path towards resolving their tax obligations.Eligibility for Offer in Compromise:While an Offer ...