Offer in Compromise Conditions Changed

If a business wants to settle with the IRS through an Offer in Compromise (OIC), the conditions have changed slightly for businesses with employees. Complete revised Form 656-B to request an OIC. The procedures for this OIC have been updated to require that taxpayers make all required federal tax deposits for the current quarter and the 2 preceding quarters before submitting the offer. If not, the offer won’t be processed. #IdeaoftheDay