Offer In Compromise and its Disadvantages

Where there are advantages, there are always disadvantages in this life. When it comes to Offer In Compromise's and you tax debt you will find the following:

Some of the disadvantages of an OIC are as followed:

*Your Offer In Compromise will be on public record for a year
*You will have to pay on all taxes for the next five years or your OIC will default !!!!!!
*OIC extends the Experation Date by the time of the IRS Review plus 30 days
*If you can negotiate an Offer In Compromise, the IRS can take up to 2 years to complete an OIC investigation.
*Also keep in mind, that if you have a refund, the IRS can take that refund upon the acceptance of an OIC.
*Another disadvantage of an OIC, is the reinstating of all penalties and interest of the OIC defaults.

OFFER IN COMPROMISE'S ARE DIFFICULT TO ACHIEVE BUT NOT IMPOSSIBLE. THERE ARE LICENSED TAX CONSULTANTS AT EFFECTUR THAT GIVE AN HONEST PROBABILITY ON THIS TYPE OF NEGOTIATION !!!