Tax Law > Offer-in-Compromise (“OIC”)

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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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