An offer in compromise is typically only permitted by the IRS if it's determined the taxpayer will not have the means to pay their owed taxes even after selling the taxpayers property and assets, and after taking into consideration that tax payers current and future earnings potential. You Also Might Like...
http://www.businessdictionary.com/definition/offer-in-compromise-OIC.html
Offer in Compromise Program. The New York State Offer in Compromise Program is designed. to help financially distressed taxpayers who face overwhelming. tax liabilities. This includes any liability administered by the Tax. Department. Taxpayers accepted into the program may pay. a reasonable amount as a compromise, satisfying the debt. in full. While we carefully review and consider every offer in. compromise, we do not accept all offers. While reviewing an. offer, we may continue efforts to collect the debt.
https://www.tax.ny.gov/pdf/publications/multi/pub220.pdf
Offer In Compromise. Offer In Compromise. A proposal to the IRS (on an IRS tax form) to settle a tax debt for less than the amount owed.
http://www.nolo.com/dictionary/offer-in-compromise-term.html
Offer In Compromise. Share. DEFINITION of 'Offer In Compromise'. A program offered by the IRS to taxpayers who are unable to pay their tax debt. Those who qualify are allowed to make an offer in compromise, which is an offer to pay a lesser amount than that which is owed.
http://www.investopedia.com/terms/o/offer-in-compromise.asp
Offer In Compromise. DEFINITION of 'Offer In Compromise'. A program offered by the IRS to taxpayers who are unable to pay their tax debt. Those who qualify are allowed to make an offer in compromise, which is an offer to pay a lesser amount than that which is owed.
http://www.investopedia.com/terms/o/offer-in-compromise.asp
An offer in compromise (offer) is an agreement between you (the taxpayer) and the IRS that settles a tax debt for less than the full amount owed. The offer. program provides eligible taxpayers with a path toward paying off their debt.
https://www.tax.gov/PaymentAlternatives/files/f656b.pdf
offer in compromise (OIC) Agreement between the Internal Revenue Service (IRS) and a taxpayer that allows the taxpayer to pay less than the total amount owed for tax liabilities.
http://www.businessdictionary.com/definition/offer-in-compromise-OIC.html
An offer in compromise (offer) is an agreement between you (the taxpayer) 1  and the IRS that settles a tax debt for less than the full amount owed. The offer. program provides eligible taxpayers with a path toward paying off their debt. and getting a “fresh start.” The ultimate goal is a compromise that suits the best.
https://www.tax.gov/PaymentAlternatives/files/f656b.pdf
If a business applies for an offer in compromise and the. responsible person does not apply individually, our accepting. the business’s offer has no effect on a responsible person’s. liability, other than reducing their liability by the amount paid by. the business. What if a taxpayer also makes an offer to the.
https://www.tax.ny.gov/pdf/publications/multi/pub220.pdf
Offers In Compromise. An offer in compromise is an offer for an amount less than the total amount of tax liability due made by a taxpayer to settle his entire outstanding tax liability. IRC § 7122.
http://taxclinic.law.gsu.edu/collections-process/offers-compromise/
offer in compromise definition
An offer in compromise is an agreement between you and the IRS that settles a tax debt for less than the full amount owed. 'Offer In Compromise' is an agreement between the taxpayer and the IRS that settles a tax debt for less than the full amount owed.