How to Tell a Real Settlement From an “OIC Mill”

How to Tell a Real Settlement From an “OIC Mill”

Quick Answer: The IRS accepted 5,464 of 38,797 Offers in Compromise in fiscal year 2025, about 14%, according to the IRS Data Book. That is down from about 21% in 2024 and about 42% in 2023. An offer works only if it matches what the IRS calculates it could collect...
Filed an Extension but Can’t Pay?

Filed an Extension but Can’t Pay?

Quick Answer: File your return by October 15, 2026, even if you can’t pay. An extension only gave you more time to file, not to pay, so interest at 7% and a 0.5% monthly late-payment penalty have run since April 15. Missing October 15 adds a failure-to-file...