WHAT TO EXPECT AFTER FILING THE OIC

  • It goes to a processor to determine whether it is “PROCESSIBLE.”
  • IRS may return OIC to client; advise client to notify you as soon as they hear ANYTHING or receive ANYTHING from the IRS.
  • If the IRS Requests Information, comply timely or the OIC will be returned.

PRELIMINARY DECISION

  • Letter with attachments
  • Asset Equity table analyzing the value for OIC purposes.
  • Income Expense table analyzing client’s excess income.
  • Must review and respond in writing to the analysis.
  • Usually given 30 days to respond to the preliminary analysis.
  • Advise In The Response That You are REQUESTING APPEALS CONSIDERATION

APPEALS

  • If OIC Is not accepted, you can appeal.
  • More offers are settled at appeals than at the offer specialist level.