Yes, but the process can be intimidating. You need to realize that, basically, the IRS will want more than you can pay. This means that if you can pay your IRS debt in the 10-year statute, then you do not qualify for an OIC. Also, if you have adequate assets and/or income, you may not qualify. The OIC is intended for those who cannot pay in full.Start by looking at the OIC booklet 656. Here is a link: https://www.irs.gov/pub/irs-pdf/...Fill out the financial information in Form 433(OIC) which is about pages 7 through 16. Section 8 of this form is the offer amount computation. You must offer more than this. Also, your living expenses cannot exceed the national standards. They can be found here: Collection Financial StandardsOnce you decide on an offer amount, then fill out Form 656 Offer in Compromise. It is in the booklet at about page 23. There is an application fee of $186.00 to apply plus you have to pay 20% of the offer amount upfront. These can be waived if you qualify for low income consideration (see the form and booklet). If you donu2019t want to do a cash offer but want you installments, that complicates things in that the computation of the minimal acceptable offer may increase.You must (canu2019t be stressed enough) be current in paying current taxes. Current taxes must be covered by adequate withholding and/or current year estimates.There is a checklist if items to include. You must include all applicable items or explain why they are not in the application.The filing of an offer extends the collection statute so you should be aware of this as well.Edit #1: I was properly reminded that you should consider hiring an Enrolled Agent, CPA or tax attorney if you feel the need. They have expertise in this subject and may be well worth their fee.