Fresh Start Offer in Compromise
Under the current Fresh Start initiative the IRS has incorporated its Streamlined Offer in Compromise process into the overall investigation of offers and has added flexibility to the financial analysis used in evaluating offers.
The Streamlined Offer in Compromise process includes:
- Fewer requests for additional financial information
- If necessary, requests for additional information by phone, not by mail
- Greater flexibility when considering your ability to pay
The changes to financial analysis add more flexibility to the OIC process including:
- Greater flexibility in determining the equity in assets
- Greater flexibility in determining the allowable living expenses
- Reducing the amount of future income included in the offer
- Decreased timeframe to complete the OIC payment process to two years
References/Related Topics
- Offer in Compromise
- Struggling with Paying Your Taxes? Let IRS Help You Get a Fresh Start
- Form 656, Offer in Compromise Booklet (PDF)
Page Last Reviewed or Updated: 10-Jun-2013
