What documents does the IRS require to be submitted with an Offer In Compromise?

The Offer In Compromise program is a voluntary program that is offered to taxpayers who are delinquent in their taxes.  Not everyone qualifies, but if you think you do and want to make an Offer you must disclose some private information to the IRS.  For the Offer based on doubt as to collectability, you must submit the official OIC form completely filled out and signed; a completed Financial Information Statement, both individual and business (if applicable); and financial documents to verify the information on the financial information form.  Examples are bank statements, pay stubs, mortgage payment notices, utility bills, doctor bills, etc. You must provide the bills and proof of payment.  You generally have to submit three months worth of these documents.  If you are not willing to collect and submit these documents to the IRS, you cannot submit an Offer.  There are certain other criteria for submitting an Offer that I will discuss next week.  If you do not qualify for an Offer, there are other solutions we can suggest.