IRS to return OIC application if no tax return filed

Beginning immediately: The IRS will return any newly filed Offer in Compromise application where the taxpayer has not filed all required tax returns. Any fees included with the OIC will also be returned. This new policy does not apply to current year tax returns if there is a valid extension on file.
An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can't pay your full tax liability, or doing so creates a financial hardship.

For more information contact Neikirk, Mahoney & Smith at 502-896-2999.