IRS Offers In Compromise OIC Rules

IRS Offer In Compromises Made Easier

Forbes Magazine

This article by Robert E. McKenzie was was originally published in Forbes.

The IRS recently issued new guidance on Offers in Compromise (OIC), continuing a trend of liberalizing rules for compromise of outstanding tax obligations. The new rules allow more discounts of asset values and in turn leads to the ability to compromise a liability for less than in the past. The IRS last made significant changes to its offer program in 2012 and that has resulted in a dramatic increase in the acceptance rate.

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