Getting behind on paying your taxes can cause considerable problems for your business. Working with your attorney, you consider your options and decide to take advantage of the offer in compromise program offered by the IRC. It is a massive benefit for you as it takes off much of the accumulated tax debt. However, it is quite a shock when you find out the IRS rejected your request.
An OIC or offer in compromise is an IRS program that offers taxpayers a lower tax debt amount. Many things can affect your request, and the IRS may reject an offer in compromise application for several reasons. They include:
The IRS can have other reasons to reject your OIC application. If you choose to, you can appeal the decision within 30 days. To make the appeal more successful, consult a professional with tax experience. Having legal guidance can help you understand why you were rejected and improve your chances of reapplying.