More On Offers In Compromise From The IRS

The IRS has excellent information on its website easily understood about Offers in Compromise. Those of us in Los Angeles, California and throughout the rest of the country who owe tax ought to consider an OIC.

Here’s what the website covers:

What You Must Know Before You File an Offer in Compromise

All Taxpayers Do Not Qualify for an Offer in Compromise
Offer in Compromise Payments are Non-refundable
Federal Tax Liens are Not Released
Payments May be Designated
Refunds
Levies
Statutory Period for Collection Suspended
Five Year Compliance
OIC Payment and Application Fee Exceptions
Appeal
Approved Installment Agreement
Mandatory Acceptance
Work with a qualified tax attorney on your tax problem. Call Mitchell A. Port at (310) 559-5259.