An agreement that resolves the taxpayer's tax debt is called an "offer in compromise." This agreement is between a taxpayer and the IRS. By accepting less than full payment under certain circumstances, the IRS has the authority to settle, or "compromise," federal tax liabilities.
For the complete OIC policy statement, see IRS Policy Statement P-5-100. The objective of the OIC program is to accept a compromise when it is in the best interests of both the taxpayer and the government. This helps promote voluntary compliance with all future payment and filing requirements.
Many taxpayers have come to Carr Law for relief from IRS problems. Carr Law has the experience submitting Offers in Compromise that you should expect from tax lawyers. While all results are not typical, we have settled debts for much less than the amount our clients originally owed, saving them as much as 95% of their tax liability. Our firm is standing by ready to help you to begin preparation to submit an Offer in Compromise.
Offer In Compromise