The Offer-in-Compromise Process

Do you owe past-due taxes to the IRS? An IRS offer in compromise (OIC) can be a good tax relief option. This program can allow you to settle your tax liability for less than the original amount you owe, sometimes known as settling for pennies on the dollar.

Negotiating an IRS offer in compromise can be a complicated process, which, at times, may feel overwhelming. OIC's involve various kinds of paperwork and forms that must be gathered and completed in detail.

Typically, the application for an IRS Offer-in-Compromise will require you to provide:

  • A comprehensive Collection Information Statement
  • Personal bank statements
  • Business bank statements (if you own a business)
  • Paystubs
  • Profit-and-Loss Statements (if you own a business)
  • Investment account statements
  • Mortgage statements
  • A $186 application fee

Missing a minor detail or failing to meet a deadline can result in your compromise being refused by the IRS. This is why it is important to secure strong, experienced legal representation.

You should hire an attorney who is familiar with tax law and IRS offers in compromise. We handle all offer-in-compromise matters on a flat fee basis. Attorney Roderick D. Woods can help you get through the OIC process. Call (888) 272-2718 to speak with us today!

Categories: Taxes, IRS Debt
The Woods Law Firm, LLC - Connecticut Debt Defense & FDCPA Attorney
Located at 750 Main Street, Suite 100
Hartford, CT 06103.
View Map
Phone: (888) 272-2718
Local Phone: (971) 255-5710
© 2019 All Rights Reserved.

Business Hours:
Monday - Friday
8:00am - 6:00pm

Your Defense

Starts Now

Call Us Today 888.272.2718
Internet Marketing Experts The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.