Using a series of how-to videos, the IRS is helping taxpayers avoid potential scams by applying for an Offer in Compromise (OIC) themselves rather than relying on unscrupulous third-party services. Taxpayers who owe more taxes than they can pay may seek an OIC with the IRS to settle the debt for less than the amount owed.
The IRS warns against hiring and paying needless fees to “OIC mills” that contort the IRS program into something it’s not and mislead people who have no chance of meeting the OIC requirements while charging excessive fees, often thousands of dollars.
For more details: https://bit.ly/3oA8vUX. We can also help you determine whether pursuing an OIC makes sense in your situation.