Taxrelief
An Offer in Compromise (OIC) is a program offered by the IRS that allows eligible taxpayers to settle their tax debts for less than the full amount owed. It is designed for those who cannot pay their full tax liability or would face significant financial hardship if required to do so.To qualify, the IRS evaluates a taxpayer's ability to pay, income, expenses, and asset equity. The settlement amount is based on the taxpayer's reasonable collection potential (RCP), which considers future income and the value of assets.
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Tax Prep Planning For Individual
