Offer in Compromise

[kcjenkins]

National Taxpayer Advocate, Nina E. Olson has delivered her 2007 report to Congress and is touting many of the same problems she underscored in her 2006 report. Specifically with respect to the Offer in Compromise program she recognizes what so many professional tax advocates are seeing, “The IRS’ Offer in Compromise Offer program is no longer being used to any significant extent as a viable collection alternative.”

She goes on to point out some telling statistics from the IRS’ own data. “In fiscal year 2007, accepted Offers generated 17 cents for every $1 owed,” Olson said. “ By contrast, IRS research indicates the IRS has historically collected only 13 cents for every $1 owed on debts that are two years old and virtually nothing on debts that have been outstanding for three years or more.”

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