Illustration of IRS Offer in Compromise process — Form 656-B application, Reasonable Collection Potential calculation, and 2026 Dirty Dozen OIC mills warning
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IRS Offer in Compromise: Form 656-B + 2026 OIC Mills Warning

BySW Accounting admin

How does the IRS Offer in Compromise work, and how do you avoid OIC mills? An IRS Offer in Compromise (OIC) is a legally-binding agreement between a taxpayer and the IRS to settle outstanding tax debt for less than the full amount owed. You apply with Form 656-B (Offer in Compromise Booklet) plus a $205…

Irs tax debt resolution options 2026 featured
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IRS Tax Debt Resolution: Installment Agreements, OIC, and Penalty Abatement

BySW Accounting admin

What are the IRS tax debt resolution options if I can’t pay what I owe? The IRS offers four main paths: short-term and long-term Installment Agreements, Offer in Compromise (OIC) for those who can prove inability to pay, Currently Not Collectible (CNC) status to pause collections, and Penalty Abatement to reduce or eliminate associated penalties….