If the IRS accepts an OIC based on a determination of doubt as to collectibility with special circumstances. What if my OIC is not accepted, will the application fee be refunded to me? No.
• The taxpayer’s initial OIC amount is too low – based on the IRS evaluation of the taxpayer’s financial condition – and the taxpayer is given the opportunity to increase it. If the taxpayer does not increase the OIC amount, or show special circumstances, the IRS will reject the Form 656; • The taxpayer fails to submit additional financial documents to assist in the IRS review. If the taxpayer fails to respond, and/or submit the requested information, the OIC will be returned without further consideration; or • The taxpayer chooses to withdraw the Form 656. Where can I find more information on the OIC application fee? For additional information, see the OIC application fee final regulations and Form 656-A, “Income Certification for Offer in Compromise Application Fee.
Related Questions
- If the IRS accepts an OIC based on a determination of doubt as to collectibility with special circumstances. What if my OIC is not accepted, will the application fee be refunded to me? No.
- Offer in Compromise Questions Offer Determinations 401 What happens if the IRS accepts an OIC?
- What happens if the IRS accepts an OIC?
