“Half a loaf is better than none,” or at least so the old saying goes. And indeed, compromise is often better than protracted conflict.
To a somewhat surprising degree, this is true for the IRS as well. In recent years, the agency has shown itself increasingly willing to negotiate with taxpayers who seek to settle their tax debt for less than the full amount.
In this post, we will discuss the program that allows for this. It is called an offer in compromise (OIC).