EVENT DESCRIPTION
An Offer in Compromise (OIC) lets a taxpayer settle federal tax liabilities for less than the full amount owed under IRC § 7122. In this session, Frost Law attorneys Zachary Lyda and Darius Liely walk through the OIC program end to end: what it is and who qualifies, the Low-Income Certification, and the three types of offer (Doubt as to Collectibility, Doubt as to Liability, and Effective Tax Administration). They break down how to calculate Reasonable Collection Potential and structure lump-sum versus periodic-payment offers, what happens when an offer is returned or rejected, and how to appeal. The presentation includes a page-by-page walkthrough of the current 2026 IRS forms (Forms 433-A (OIC), 433-B, 656, 656-L, and 656-PPV) and closes with a Maryland sidebar on the Comptroller's OIC program.
EVENT OBJECTIVE
After attending, participants will be able to:
• Complete the current IRS OIC forms (433-A (OIC), 433-B, 656, 656-L, 656-PPV) and assemble a submission package.
• Distinguish among the three offer types: Doubt as to Collectibility, Doubt as to Liability, and Effective Tax Administration.
• Determine whether a taxpayer is eligible for an Offer in Compromise and identify the disqualifying conditions (e.g., open bankruptcy, DOJ referral, unfiled returns).
• Apply the Low-Income Certification rules to waive the application fee and required payments.
