Offer In Compromise Resolution Approval Rate: Is It Worth Applying In 2022?
An offer in compromise (OIC) is one of the main programs offered under the IRS Fresh Start Program. When our clients find out that this is the best tax resolution program to get accepted into, more often than not, their first question is what the offer in compromise resolution approval rate is.
Though we’ll get to that information in a minute, an OIC is more than its approval rate. Many different factors go into qualifying and being approved for the OIC program.
What Is An Offer In Compromise?
How To Qualify For An Offer In Compromise?
- Prove your inability to pay (prove income, expenses, and asset equity)
- File all missing or incomplete tax returns
- Made all required estimated tax payments for the current year
- Your reasonable collection potential (RCP) must be less than the amount the taxpayer offered to settle for