What is an Offer in Compromise?
Some people may ignore their taxes because they know they cannot afford their tax liability. However, failing to file can result in serious penalties or even criminal charges. Always remember there are options for those you cannot pay their full past-due tax bill in full all at once. One option is to seek an offer in compromise (OIC). There is no guarantee that your OIC will be granted, however, and it always helps to have the assistance of an experienced tax lawyer in San Francisco so you can obtain the help you need. An offer in compromise is a proposed plan that you can make to the Internal Revenue Service (IRS) when you cannot pay your full tax bill. When accepted, an OIC allows you to pay a lump sum…