The IRS also reminded taxpayers that the expanded streamline Offer in Compromise (OIC) program, one of the first Fresh Start Initiative, is still available. The streamlined OIC application is available to more taxpayers, has fewer financial document requirements, and, most importantly to struggling taxpayers, a greater flexibility and more common-sense approach to determining feasibility of collection.
Additional information is available on the IRS website in the form of a series of eight short videos. The series is entitled “Owe Taxes? Understanding IRS Collection Efforts.” The videos are located on the IRS website.