IRS's Expanded Fresh Start Program May Already Be Leading to Changes in OICs
In May 2012, the IRS announced new procedures for handling Offers in Compromise (OIC) as part of an extension of the Fresh Start Program. These guidelines were much more taxpayer-friendly than the previous rules. At least one August 2012 report has found that since the new procedures were put in place, the IRS went from accepting only 15% of OICs to accepting 40% of OICs submitted. This is an opportunity for anyone who owes back taxes to get caught up.
The IRS press release announcing the new program can be found here: http://www.irs.gov/uac/IRS-Announces-More-Flexible-Offer-in-Compromise-Terms-to-Help-a-Greater-Number-of-Struggling-Taxpayers-Make-a-Fresh-Start