The Truth About the IRS Offer in Compromise Program, by Dale Cazes, The Law In Plain English by Dale B. Cazes Blog
If the IRS swoops down, my knee-jerk reaction would be to beg mercy and hope to resolve it quickly. However, the IRS’ approach is likely to be that it has the upper hand, and will act like it. Your best bet is to have a knowledgeable advocate in your corner. -CCE
If you are experiencing IRS tax troubles, be wary about the companies you see on television and radio claiming that they can settle your tax debts owed to the IRS for ‘pennies on the dollar.’ The settlement program these companies are speaking about is known as an Offer in Compromise (OIC), and despite what these companies say, the reality is that the IRS rejects more OICs than it accepts. . . .