Offers in Compromise, OIC

The IRS Offer in Compromise, or OIC, program allows a taxpayer to enter into an agreement with the government to settle a tax liability for less than the full amount owed. The IRS generally accepts OICs when it is unlikely that the liability can be collected in full.

The key factors considered in an OIC that is submitted on collectibility grounds are a taxpayer’s net income after necessary living expenses and equity in assets.

The Law Offices of MARC D. MARSICO, Attorney At Law, has had great success in the OIC program. All OICs are pre-qualified prior and the taxpayer knows how the IRS will evaluate the OIC before submission. Should a client appear to qualify, a professionally prepared OIC can be submitted. Our offices an handle all further discussions with the OIC Unit of the IRS.