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Tax Law > Offer-in-Compromise (“OIC”)


The Offer-In-Compromise (“OIC”) is a program offered by the Internal Revenue Service (“IRS”) to settle tax liability. This program is available to taxpayers, both individuals and businesses, who do not have the ability to pay the full amount of their tax liability within a reasonable period of time or to taxpayers who have a valid doubt as to the tax liability assessed against them. The OIC can be extremely beneficial to taxpayers who have a high tax liability and a relatively low income. The IRS has settled tax liabilities for as little as 1% of the balance due through previous OIC submissions. Taxpayers with a tax liability should retain legal representation soon to ensure that they can gain the benefits of the OIC program.

The IRS uses a mathematic formula to determine whether taxpayers qualify for the OIC program. One of the main reasons for OIC submissions being denied is failure to submit the proper documentation. Miami Legal Center has successfully negotiated OIC settlements for clients.

 
​Contact one of our lawyers today 
to discuss your options for settling your tax liability,
including whether you qualify for the OIC program.

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Copyright © 2016
  • HOME
  • PRACTICES
    • Bankruptcy Law >
      • Chapter 7
      • Chapter 11
      • Chapter 12
      • Chapter 13
      • Loan Modification
      • Creditor Representation
      • Assignments for the Benefit of Creditors (“ABCs”)
    • Tax Law >
      • Tax Audits
      • Tax Fraud & Tax Evasion
      • Tax Preparer Penalties
      • Offer-in-Compromise (“OIC”)
      • Florida Sales Tax Problems
      • Offshore Bank Account (“OVDI”)
      • Innocent Spouse Defense
      • Installment Payment Agreement
      • Individual & Business Tax Preparation
    • Business & Commercial Law >
      • Business Formation
      • Business Transactions
      • Work-outs & Restructuring
      • Franchise Law
      • Not for Profit
      • Buying or Selling a Small Business in Miami
    • Real Estate Law >
      • Real Estate Transactions
      • Foreclosure Defense
      • Short Sales
      • Loan Modification
      • Tenant Landlord Disputes
      • Homeowner’s Association
    • Immigration Law >
      • U.S. Greencards
      • U.S. Visas
      • Citizenship
      • Investor Visas
      • Adjustment of Status
      • Labor Certification
  • PROFESSIONALS
    • Paula Gonzalez
    • Aramis Hernandez, Esq.
    • Greg Rice Jacobs, Esq.
    • Anna Zhuromskaya, Esq.
  • BLOG
  • CONTACT US