The IRS Offer in Compromise program, the one you hear about on radio and TV…really exists. It actually works too. Many taxpayers settle tax debts both large and small with the IRS every year. But…it isn’t for everyone. In fact, most Offers in Compromise filed with the IRS are rejected for a number of reasons. You can read more about that here.
Just as important…many who qualify for an Offer in Compromise choose not to file one. Strange but it happens all the time. Here are the 5 most common reasons it does.