Offer in Compromise (OIC) Attorneys
Taxpayers who are unable to pay their IRS and/or state tax liability may be able to reduce the amount they owe through an offer in compromise program; the IRS and the states have similar programs available. Filing and negotiating an OIC is a complex procedure that is best handled by a tax lawyer with OIC experience.
With law offices in Albany, New York City, Rochester, Syracuse, Utica, and Watertown, our attorneys represent IRS and New York State OIC proceedings throughout much of New York State. Attorney Joseph Callahan has over 25 years of legal experience as well as a master’s degree in accounting. He also has extensive tax law experience in many areas, including offers in compromise and installment payment arrangements.
To schedule an appointment with our IRS-offer-in-compromise attorneys, please call toll-free 844-MCC-4TAX or contact us online.
To learn about any one of our office locations, please visit the page for your nearest tax attorney using the appropriate link to MCC4Tax.com below:
- Albany Tax Attorney
- New York City Tax Attorney
- Rochester Tax Attorney
- Syracuse Tax Attorney
- Utica Tax Attorney
- Watertown Tax Attorney
Benefits of an Offer in Compromise (OIC)
An OIC is an agreement between the government and the taxpayer stating that the government will accept payment that is less than the amount the taxpayer owes. If the government accepts the OIC, it is the taxpayer’s duty to comply with payment and filing requirements over the next five years.
Acceptance of an OIC is typically granted when there is doubt about the taxpayer’s liability or ability to pay the entire amount owed. Occasionally, an OIC will be accepted based on effective tax administration, which requires proof that paying the amount owed would create economic hardship or is unfair.
Regardless of the type of OIC, your tax attorney will negotiate the appropriate terms of the agreement and the amount of your payment with the IRS and/or state tax agents. Payments may be structured as a lump sum offer or installments.
Knowing when to file an OIC is also important; our tax attorneys have the comprehensive knowledge of tax law that is invaluable when determining a filing date.