It’s tax season, and for some taxpayers, that means facing a balance due. If you can’t pay your full tax bill, an offer in compromise (OIC) could help you settle your debt for less than you owe. The IRS considers your ability to pay, income, expenses and asset equity to determine eligibility. You can’t be in bankruptcy, and you must be up to date on your tax filings. So it’s still important to file your 2025 return (or file an extension) by April 15. An OIC isn’t right for everyone, so look at all your payment options first. Also, be aware that there’s a $205 nonrefundable application fee. If you need guidance, we can check your eligibility and help you file an offer.
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