To accept an Offer In Compromise, the IRS must be convinced that your Offer is at least as much as they could collect from you over the remaining years in the Statute of Limitations for your liability. This includes future income plus current assets that are not exempt. My job is to present a true picture of realizable assets plus future available income. In addition, after an Offer is accepted, one must remain current in filing and paying his taxes for at least five years. This means filing and paying on time! Also, by filing the Offer the taxpayer agrees that the Statute of Limitations will be extended by a period of time equal to the time from the submission of the Offer until it is paid in full. Finally, if your Offer is accepted, you give up the right to later contest the amount of your tax liability for the years in question.