Practical considerations in negotiating with the IRS
Readers of this tax law blog have been exposed to posts about the negotiation options that may be available with the Internal Revenue Service, including offers in compromise.
Today’s post takes a more in-depth look at this option. According to the IRS’ website, an offer in compromise is a settlement option whereby the IRS agrees to less than the full payment of taxes that are allegedly due. If approved, an offer in compromise can be paid either in installments or in a lump sum.