Art Bradham CPA PC
Offers In Compromise (OIC)
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The OIC programs have received lots of press,
not all of it good, and some of it the equivalent
of late night TV ads – “settle IRS debts for
pennies on the dollar”. This sleazy type of
promotion is unfortunate, because Offers in
Compromise are an important and valuable tool
to help taxpayers return to tax compliance with
the tax laws. An OIC is not a means to escape
your tax burden.
The OIC is a great program. It allows a
taxpayer to return to current status with the
IRS, settle their debts and resolve the
collections efforts and anxiety associated with
potentially having the IRS seize assets or levy
on your bank account or wages.
I can assist the taxpayer in evaluating whether
an OIC is the best payment program, and in
compiling and submitting a successful Offer In
Compromise. Only 14 % of all Offers are
accepted by the Service. An OIC is only
beneficial if it is accepted.
The keys to a successful IOC are
documentation and knowledge of the methods
the Collection Division uses in evaluating
against their standards, and fashioning an offer
that meets their expectations. The financial
information collected will indicate an
appropriate offer and greatly reduce the
frustration and anxiety over a long pending
resolution.
not all of it good, and some of it the equivalent
of late night TV ads – “settle IRS debts for
pennies on the dollar”. This sleazy type of
promotion is unfortunate, because Offers in
Compromise are an important and valuable tool
to help taxpayers return to tax compliance with
the tax laws. An OIC is not a means to escape
your tax burden.
The OIC is a great program. It allows a
taxpayer to return to current status with the
IRS, settle their debts and resolve the
collections efforts and anxiety associated with
potentially having the IRS seize assets or levy
on your bank account or wages.
I can assist the taxpayer in evaluating whether
an OIC is the best payment program, and in
compiling and submitting a successful Offer In
Compromise. Only 14 % of all Offers are
accepted by the Service. An OIC is only
beneficial if it is accepted.
The keys to a successful IOC are
documentation and knowledge of the methods
the Collection Division uses in evaluating
against their standards, and fashioning an offer
that meets their expectations. The financial
information collected will indicate an
appropriate offer and greatly reduce the
frustration and anxiety over a long pending
resolution.
| Call us: 803-774-1040 Email us: art@artbradham.com |