August 2016 JD Supra

IRS has a program called Offer in Compromise (OIC) which allows eligible Taxpayers to settle a tax debt with IRS for less than the full amount owed.  Not all Taxpayers are eligible.    The OIC is not available to partnerships, corporations, residents of U.S. territories or foreign countries, or military personnel using an APO or FPO address.   Before IRS considers an OIC, the Taxpayer:Are You Eligible for an IRS Offer in Compromise