This IRS program may end at any time. If your offer is accepted by the IRS, you pay the amount you agree to, and your past due tax liability will be permanently eliminated. It is actually sad that the people who qualify for this IRS program are at a loss as to what to do and are increasingly despondent . Well, the IRS is under pressure to clear out the billions of dollars due the U.S. Government and they want to get what is collectable at the least cost to the government. They are hoping that if they give you a fresh start, then you are better apt to comply with future tax laws.
Any taxpayer can file an offer in compromise .
This would include individuals, married couples, corporations, and partnerships. Just as any taxpayer can file an offer in compromise, the offer in compromise program compromises virtually any personal, estate or business taxes. This includes personal income taxes, corporate income taxes, estate taxes, and payroll taxes. Not only can you compromise the tax liability but you can also compromise all the penalties and interest. Many times the penalties and interest can be greater than the original tax liability.