An Offer in Compromise (OIC) is an IRS tax settlement option given to taxpayers who are unable to pay the full amount of taxes they owe. The OIC program can be a useful tool for taxpayers that have found their tax debt to be insurmountable. If a financially distressed taxpayer can prove that paying off the entirety of their debt would cause undue financial hardship, the IRS may consider reassessing the amount of debt owed.
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