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Offers in Compromise http://public.findlaw.com/taxation/nolo/ency/6F552 Source: Findlaw General information regarding the Offer in Compromise (OIC). Through an OIC, a taxpayer may have the amount of tax liability owed to the IRS reduced. A formal process must be followed in preparing the OIC and it is entirely within the government's discretion whether to accept an OIC. full description	What is an Offer in Compromise? How do I submit an Offer in Compromise? Can anybody submit an Offer in Compromise? For what reasons can a person submit an Offer in Compromise? How much should I offer to the IRS in an Offer in Compromise? What does "Realizable Value of Assets" mean? What is "Quick Sale Value"? What is "future income" for purposes of an Offer in Compromise? What if I've calculated an amount an Offer in Compromise using the IRS worksheets, but it's an amount I cannot pay? What should I do if my Offer in Compromise was rejected by the IRS? How do I appeal a rejection of an Offer in Compromise?