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USTC Offer in Compromise

If you agree with your tax billing, but do not have the means to pay the full amount, you can offer to pay a lesser amount under the USTC offer in compromise program.

Do you qualify for the OIC program?

The USTC offer in compromise program is for taxpayers or feepayers that do not have, and will not have in the foreseeable future, the income, assets, or means to pay their tax liability in full. You qualify for the program if you meet all of the following criteria:

  1. Have a final tax or fee liability on a closed account.
  2. Are no longer associated with the business that incurred the liability or a similar type of business.
  3. Do not dispute the amount of tax or fee you owe.
  4. Cannot pay the full amount you owe in a reasonable amount of time.

In some circumstances, the USTC may also consider an OIC for open and active businesses that have not received reimbursement from the taxes, fees, or surcharges owed; successors of businesses that may have inherited tax liabilities from their predecessors.

Although each case is evaluated based on its own unique set of facts and circumstances, the USTC will evaluate the following factors for consideration:

  1. The taxpayer’s ability to pay
  2. The amount of equity in the taxpayer’s assets
  3. The taxpayer’s present and future income
  4. The taxpayer’s present and future expenses
  5. The potential for changed circumstances

Contact a USTC Tax Attorney

If you have a USTC tax liability, we can help. Contact a USTC tax attorney at Tax Defense Counsel today for a free consultation.