2021 Year in Review: What Do Maryland Taxpayers Need to Know for 2022?
Posted in News, Offshore Account Update on December 31, 2021
News and Events
Archive by Month: December 2021
IRS Issues New Guidance for Taxpayers Seeking Offers in Compromise
Posted in News, Offshore Account Update on December 17, 2021
The Offer in Compromise (OIC) program provides an opportunity for eligible U.S. taxpayers to settle their outstanding tax debt for less than the full amount they owe. Recently, the Internal Revenue Service (IRS) published a series of videos explaining the OIC application process and warning of common scams involving the OIC program. In this article, Maryland IRS lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group, discusses some of the key aspects of the OIC program and offers some key insights for taxpayers who are interested in pursuing an offer in compromise.
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