1 March By Christina Weed | mendasweed

Procedural Considerations for Submitting an OIC: Anderson v. Commissioner

The concept of an Offer in Compromise (OIC) has existed for more than a century.[1] In the past, Offers were rarely made because the procedures and rules surrounding Offers were ambiguous, confusing and not well-known by taxpayers or practitioners. It was not until the 1990s that the IRS undertook efforts to liberalize and bolster the Offer process. Despite these efforts, the standards a taxpayer had to meet in order to have their Offer accepted remained…
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