Offer in Compromise isn’t what most people think

I deal with a lot of people who end up looking into Offer in Compromise and most of the time the issue isn’t the IRS being difficult.

It’s that they waited too long or went in with the wrong expectations.

A lot of people think OIC just means “settle for pennies,” but if your financials don’t support it, it’s not getting approved no matter how good the story is.

Curious how many people here have looked into it or been told to go that route and what your experience was.