Offer in Compromise for Businesses and Self-Employed Individuals
Learn how businesses and self-employed individuals can use an Offer in Compromise to settle tax debt, including eligibility, forms, and key steps.
Frequently Asked Questions
##### What is an Offer in Compromise (OIC) for businesses and self-employed individuals?
##### Who is eligible for an OIC as a business or self-employed individual?
##### What types of tax debt can be included in an OIC?
##### How is the OIC amount determined for businesses and self-employed individuals?
##### Are there fees associated with applying for an OIC?
##### What happens if my OIC is accepted?
##### How long does it take to process an OIC application?
##### Can I negotiate with the IRS regarding the OIC amount?
##### Is it advisable to seek professional help when applying for an OIC?
An Offer in Compromise is a powerful program offered by the IRS that allows businesses and self-employed individuals to settle their tax debt for less than the full amount owed, under certain circumstances. It provides a fresh start for taxpayers struggling with overwhelming tax obligations.
Navigating the Offer in Compromise program for businesses and self-employed individuals can be complex. It's often wise to consult with tax professionals or attorneys who specialize in tax resolution to increase your chances of a successful outcome and debt relief.
An Offer in Compromise is a program offered by the IRS that allows businesses and self-employed individuals to settle their tax debt for less than the full amount owed. It's a way to help taxpayers who cannot afford to pay their entire tax liability.
Remember that OIC applications can be complex, and the IRS has specific criteria for approval. Seeking professional guidance is often a wise decision to navigate the process successfully.
Request a free consultation with our experts today and take the first step towards achieving your goals.
This content was written and reviewed by the licensed tax attorneys at Victory Tax Lawyers, LLP. Our attorneys specialize in IRS tax relief and are licensed members of the California State Bar with a nationwide practice.
Last Reviewed: 2026 · Meet Our Attorneys →
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