The IRS Offer-In-Compromise Program – How Does It Really Work?

An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the full amount owed. If the tax liabilities can be fully paid through an installment agreement…

The Alternative Minimum Tax, Explained

Under the Internal Revenue Code and the vast body of rules and regulations related thereto, certain tax benefits can significantly reduce the amount of taxes that a taxpayer may owe. The alternative minimum tax (AMT) applies to those taxpayers with…

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