Rejected or Revoked OIC

How Taxpayers Can Protect a Granted Offer-in-Compromise From Being Revoked

If an offer is granted, taxpayers must:

  1. File taxes on time for the next five years
  2. File proper extensions if not filed by April 15 th
  3. Pay taxes on time or in full by April 15 th
  4. Make all installment payments on time

If the taxpayer fails to comply with all these terms, the offer in compromise will be deemed revoked which will result in:

  • Reinstatement of the full tax liability
  • Added penalties and interest
  • Potential seizure of disclosed assets
  • Non-release of federal tax liens
  • Reinstitution of aggressive collection practices

Remember: All offers toll the Statute of Limitations for the collection of applicable tax liabilities and all offers not determined within two years of receipt are deemed accepted.

To learn more about how to protect yourself from rejection of your offer in compromise, speak with an experienced attorney at the Law Offices of Neil Crane, LLC. Contact us online or call us at 203-230-2233, toll free at 888-249-3027.

Taxpayer Options for Rejected Offers in Compromise

If a taxpayer's offer in compromise is rejected, the taxpayer is entitled to a copy of the report, which lists the factors that caused the rejection. The denial may also provide statements or guidelines that indicate an amount or payment schedule that would be acceptable.

Taxpayers receiving denials should attempt to contact the tax official who denied the offer and attempt a negotiated reconsideration. This avoids formal appeals and allows for resubmission. Formal appeals are available, but the taxpayer has no legal right to an appeal. Instead, this remedy is within the IRS's discretion.

The offer in compromise option can be a tremendous alternative for properly qualifying taxpayers with proper presentation to avail themselves of a large tax savings and re-enjoy the benefit of life without continuing federal income tax problems. The key to success is proper evaluation and experienced tax relief assistance.

Contact Our Tax Debt Relief Lawyers

At the Law Offices of Neil Crane, LLC, we've helped thousands of Connecticut residents achieve financial relief and future financial success. Put our experience and knowledge to work for you.

Call us for a free initial consultation at 203-230-2233, call us toll free at 888-249-3027, or contact us online for a prompt response from an experienced offer in compromise tax attorney. We have office locations in Hamden, Bridgeport, Ridgefield, Waterbury and Rocky Hill, Connecticut.

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