Offer in Compromise: A Path to Settling Tax Debt for Less
Navigating through tax debt can be a daunting task, especially when the amount owed seems insurmountable. For taxpayers who find themselves in such a situation, the Internal Revenue Service (IRS) offers a potential solution: the Offer in Compromise (OIC). This program allows qualifying taxpayers to settle their tax debt for less than the full amount owed, providing a fresh start and a way out of financial distress. Understanding the intricacies of the OIC program can be instrumental in resolving significant tax liabilities.
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