Pros and Cons of Pursuing an Offer In Compromise
Explore the pros and cons of pursuing an Offer in Compromise, including debt reduction, fresh start, eligibility challenges, and IRS acceptance risks.
Frequently Asked Questions
##### What is an Offer in Compromise (OIC)?
##### What are the pros of pursuing an Offer in Compromise?
##### What are the cons of pursuing an Offer in Compromise?
##### Who is eligible for an Offer in Compromise?
##### 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 pursuing an OIC?
An Offer in Compromise can be a valuable tool for those facing insurmountable tax debt, but it's essential to weigh the pros and cons carefully and consider consulting a tax professional to assess whether it's the right option for your specific financial situation.
The processing time can vary, but it often takes several months for the IRS to review and make a decision. Patience is essential during this process.
Yes, you can negotiate with the IRS during the OIC process. You may want to work with a tax professional who can help you present a strong case and negotiate effectively.
Yes, many individuals find it beneficial to work with tax professionals, such as tax attorneys or enrolled agents, when pursuing an OIC. They can provide expert guidance, ensure your application is complete, and negotiate with the IRS on your behalf.
Remember that the decision to pursue an OIC should be carefully considered in light of your financial situation and goals. Weigh the pros and cons, and consider seeking professional advice to determine the best course of action for your specific circumstances.
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 →
Attorney Advertising. Prior results do not guarantee a similar outcome. This website is for informational purposes only and does not constitute legal advice. No attorney-client relationship is formed by viewing or using this website. For legal advice, please schedule a consultation.
© Victory Tax Lawyers © 2026. All rights reserved. Powered by GLP Marketing
Tax Relief
Ready to Resolve Your Tax Issues?
Our experienced tax attorneys have saved clients over $91 million. Get a free, confidential consultation today.