For U.S. taxpayers with foreign assets, the reporting that is now required to remain in compliance with U.S. tax law requires several different steps.
Making an offer in compromise: eligibility criteria and acceptance trends
An offer in compromise (OIC) is a way to potentially resolve your tax debt with the IRS for less than the full amount owed. It is a potential resolution, not a certain one, because the IRS is not obligated to accept the offer.