Looking to Settle for Less with the IRS?

Why It Matters

Knowing the IRS tools and eligibility rules can save taxpayers money and protect them from predatory commercial services, while ensuring they pursue the most appropriate option for resolving tax debt. Using the official pre-qualifier and account tools streamlines applications and reduces the risk of unnecessary fees or denied offers.

Summary

The IRS warns taxpayers that private firms advertising to settle tax debts can be unnecessary and costly, noting individuals can apply for an Offer in Compromise (OIC) themselves. An OIC lets eligible taxpayers settle for less than the full amount, but it’s a last resort after payment plans and requires meeting strict eligibility criteria. The agency highlights free online resources — an OIC Pre-Qualifier Tool and individual online account — to estimate eligibility and prepare an application, and reminds filers that the IRS, not third parties, makes the final decision after a financial review. The only IRS application-related charge is an application fee that may be waived for qualifying taxpayers.

Original Description

Use the Offer in Compromise Pre-Qualifier Tool to see if you may qualify for an Offer in Compromise to settle your tax debt for less than the full amount owed. See FAQs and more at https://www.irs.gov/oic.

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