Don’t fall for misleading ads that claim you can easily resolve your tax debt for “pennies on the dollar,” warns the IRS. These ads made the IRS 2020 list of “Dirty Dozen” top scams that target taxpayers. While it’s true that taxpayers who owe more than they can pay can seek an “Offer in Compromise” (OIC) from the IRS, unscrupulous companies exaggerate the chances of settling tax debts for practically nothing. A true OIC requires taxpayers to meet specific criteria under law. Thousands of taxpayers benefit from OICs every year, but not everyone qualifies. In fiscal year 2019, there were 54,000 OICs submitted but only 18,000 were accepted. Contact us for help seeking a true OIC from the IRS.
