City Tax Offer in Compromise
The City Tax Offer in Compromise (OIC) program is a tax relief solution that gives qualified individuals the opportunity to settle their tax debt for less than what they owe. At City Tax, our experienced professionals can guide you through the complex application process and help maximize your chances of approval.
Tax Settlement Requirements – OIC
Before applying for an Offer in Compromise, it is important to determine if you meet the eligibility requirements.
City Tax considers several factors when reviewing tax settlement offers, such as your income, expenses, asset equity, and potential future earnings. To qualify, you must be current on all tax filings and payments. City Tax will also evaluate whether you can pay your debt through other options like installment plans or asset equity. Be prepared to provide detailed financial information—often through Form 433-A—as part of the thorough review process.
At City Tax, your free consultation includes pre-qualification for the OIC program, as well as other tax relief options. Call us today to see if you qualify!
Apply For an Offer in Compromise Today!
How to Request an Offer in Compromise
Once you have determined that the OIC program is the right option for you, it is essential to follow the correct application process to maximize your chances of success. Here are the steps involved in applying for the OIC program:
Evaluate Eligibility
Make sure you meet City Tax eligibility guidelines by evaluating your financial situation and consulting with a qualified tax professional.
Gather Documents
Collect all the necessary financial documents, including income statements, bank statements, tax returns, and expense records.
Submit Application
Complete the Offer in Compromise (OIC) application (City Tax Form 656), include all necessary supporting documents, and submit the required fee—or request a waiver if you qualify.
Once your tax settlement offer is submitted, City Tax will review it along with the supporting documentation. This review process may take several months, so it’s important to remain patient and promptly respond to any additional requests for information.
The Offer in Compromise (OIC) application process is complex and requires a solid understanding of tax laws and regulations. Working with a tax specialist can significantly improve your chances of approval. At City Tax, our trusted tax partners bring decades of experience handling OIC requests. Contact us today to find out if the OIC program is the right solution for your tax situation.