Offer in Compromise - What is an OIC?
Have you ever heard of someone paying one lump sum to settle their tax debt? They were probably referring to an Offer in Compromise (OIC).
This is the most sought-after tax relief due to the end result: a zero tax liability. We always start here for our clients. But it isn't the right resolution for everybody. The OIC process is a long one and there are compliance requirements; plus, the IRS will dig deep into your financial life before accepting an OIC.
We are seasoned and knowledgeable with this process. We only submit offers that we know will be accepted as submitted. We don't claim to settle for "pennies on the dollar" like some other companies do (which by the way, is a violation of Circular 230), but instead we promise to get you the best offer possible under your circumstances and the reality is that everyone is going to have a different offer.
If you aren't ready for an offer, we may recommend alternatives along the way such as getting on an installment agreement or going into currently not collectible status. This buys the time needed to get you ready for the best resolution possible.