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What is an Offer in Compromise? An offer in compromise (OIC) is a tax resolution program designed for eligible taxpayers who face substantial financial challenges when it comes to paying their owed federal taxes or whose tax debt would create severe financial hardship. Through the OIC, taxpayers can negotiate and
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Definition of a Notice of Deficiency A Notice of Deficiency, also known as an IRS 90-day letter or IRS Notice CP2319A, represents a formal determination by the Internal Revenue Service (IRS) that a taxpayer owes additional income tax, along with potential interest and penalties. Issued when the IRS identifies discrepancies
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Understanding Form 1310 and Its Purpose Form 1310, Statement of Person Claiming Refund Due a Deceased Taxpayer, is an essential document in the event that a deceased taxpayer is owed a refund from the Internal Revenue Service (IRS). This form serves to inform the IRS that a taxpayer has passed
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