The Offer in Compromise (OIC) program is a program by the IRS that lets you settle your debt for less than what you currently owe. According to the IRS, the OIC program “…may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship.”
The IRS also states, “We generally approve an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time.”
Contact our Illinois tax resolution experts to help settle your tax debt. Call us at (855) 829-3497 to get a free consultation or contact us online. We will review your case and see if an Offer in Compromise is the best solution for you.