OFFERS IN COMPROMISE (OIC) LAWYERS

Over 200 Offers Approved In Last 18 Months!!

  • Most are based upon Doubt As To Collectability
  • TO ACCEPT AN OIC BASED UPON DOUBT AS TO COLLECTABILITY, THE IRS requires the following:
  • An amount = to the value of the taxpayers assets, less secured debt and less their IRS allowed exemptions; and An amount they could get from the taxpayers earnings over the next year (if cash offer, using 12 month multiplier to determine
  • “future remaining income”). or 2 years (if a short term, deferred offer payable over 24 months, using 24 month multiplier to determine “future remaining income”).

OIC IS SIMILAR TO A CHAPTER 13

    • Both have a liquidation analysis
    • Both have an excess income test
    • OIC has a “best interest of the IRS test.”

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