Problems–life problems–can happen to anyone. When I met Richard, he was in serious trouble with the IRS. He had made a mistake many years earlier.
Offers in Compromise
The road to tax relief can sometimes be traveled by filing an Offer in Compromise, or OIC, with the Internal Revenue Service. An OIC is a proposal to the IRS. You are asking them to allow you to pay less than what you owe. Example: You owe the IRS $125,000 and you file an OIC with an offer to pay $35,000. If they accept it you will only pay $35,000 and your IRS debt will be permanently settled.