What the IRS evaluates before you can build a successful proposal.

• An OIC proposal is made on Form 656 (Offer in Compromise) and includes Form 433-A (OIC) along with the required supporting documents, to help the IRS to consider all the factors they look at including your:
  
  • Income
  • Expenses
  • Asset Equity
  • Lifestyle
    

Find out if you are eligible.

The eligibility requirements are:

• You filed all your tax returns.
• You received a bill for at least one tax debt included in your proposal.
• You must pay all the required estimated taxes for this tax year.
• You must make all your required federal tax deposits for this year (if you are a business owner or employer).

Tips

You need to fill in a set of tax forms during an application:

• Form 656: Offer in Compromise.
• Form 433-A (OIC): Collection Information Statement for Wage Earners and Self-Employed Individuals. The IRS uses this to determine the extent of your ‘financial hardship.’
• Form 433-B (OIC): Collection Information Statement for Business.