OIC Situations That Apply

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When can I apply for an OIC?

OIC Situations That Apply

Offers in Compromise agreements occur if you cannot afford installment agreements, which consist of the full amount of taxes due, any penalties, and any interest. Also, an OIC cannot last longer than five years.

You can only apply for an Offer in Compromise when all of the following conditions are present:

  • All of your required federal income tax returns have been filed
  • Any collection of the entire tax bill will cause you economic harm
  • Doubt exists as to whether you can pay your entire tax bill amount
  • Doubt exists that the assessed tax amount is correct
  • You are not in bankruptcy at the time of applying for an OIC
  • You can eliminate, spread out, or decrease your tax debt by filing for bankruptcy

   

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