Employer offer in compromise process changes

For the IRS to accept an employer’s offer in compromise (OIC) to settle its tax debt for less than the amount it owes, the employer must observe all rules, including a new one. Previously, employers were required to make all federal tax deposits (FTDs) for the quarter submitted and subsequent quarters when making their OICs. Now, employers aren’t considered in compliance unless they make all required FTDs for the submission quarter and two previous quarters before submitting their OICs. The IRS won’t process an OIC made by an employer not in compliance and will apply any FTDs to the employer’s tax debt. View the latest OIC booklet here: https://bit.ly/39X4Tbn