What is an Offer in Compromise, and do I qualify?

Question

Kohari Gonzalez Oneyear & Brown · Accepted Answer

An Offer in Compromise is a formal IRS collection option that can sometimes resolve a tax debt for less than the full amount owed, but eligibility often depends on a close review of income, assets, expenses, and the realistic ability to pay. The IRS also looks at whether the tax liability is accurat For an answer applied to your exact numbers, bring this question to a licensed KGOB CPA in a focused session and leave with a clear next step.