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After the IRS accepts my offer in compromise (OIC), what are my obligations?

Once an offer in compromise is accepted and you are paying the compromised amount off in installments, it is more important than ever that you maintain compliance with your filing requirements, estimated tax payments, and any and all payments for the offer in compromise. Failure to do so even once may result in your offer in compromise being rejected entirely and you will owe the amount you did before minus the payments you already made.

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How to Qualify for an IRS Offer in Compromise (OIC)

Offers are not guaranteed to be accepted at the time of applying and interest and debt collection attempts continue during the review process. It is very important to meet all of the requirements when submitting the application. The two different types of offer in compromise are streamlined and standard. Both have specific legal grounds to qualify.

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When does it make sense to hire a tax attorney to negotiate an IRS Offer in Compromise?

There are some occasions where an attorney is not only useful, but invaluable in assisting you with your IRS offer in compromise negotiation. An attorney can aid in reinforcing your current financial situation to the IRS and typically has more effective lines of communication with IRS agents. The attorney can clarify that all communications go directly through their office and can handle the paperwork and formalities for you, removing much of the stress and work so that you can focus on getting well. If your offer in compromise is rejected, you have the right to appeal to the tax court. As with any court of appeals, this appeal must be handled by an attorney.

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