Hidden Tax Breaks Only Offer In Compromise Reveals

Costs and Considerations

While the potential savings are substantial, it's important to note that there are costs associated with submitting an OIC. The application fee is $205, although it may be waived for low-income applicants². Additionally, a non-refundable initial payment is required, which can be either 20% of the offer amount for a lump-sum offer or the first installment for a periodic payment offer³.