To qualify for an OIC you must have an inability to repay your taxes owed within the time the IRS has to collect.
The IRS may assess a variety of penalties on your tax account including late filing and late payment fees. Sometimes the penalties dwarf the actual taxes owed.
This payment plan agreement allows you to pay your full total taxes owed in equal, yet smaller and more manageable amounts.
You relinquish your rights and allow any property with an IRS lien to be sold free and clear of the tax lien.
Allows a “junior” creditor to move ahead of the IRS for claim on the property.
Your tax liability is satisfied, and the lien is released.
Your liability is satisfied, and the garnishment is lifted.
You paid your tax liability, or the time limit expired, releasing the levy.
You filed a joint return, the tax due is understated, you didn’t know, so it is unfair to hold you liable.
Assigned by the IRS when someone cannot pay due to a temporary hardship.
The time limitation (generally 10 years) on which the IRS can collect taxes and levies. The start time varies for each action taken.
The Office of Appeals is separate from and independent of the IRS Collection Office. Check here for your collection appeal rights.
You may file an administrative appeal with the IRS under four circumstances. For complete information, check under IRS 8.7.14.4.