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Eligibility Criteria

To determine eligibility, the IRS considers several factors, including your ability to pay, income, expenses, and asset equity. The process involves a thorough review of your financial situation to establish if an OIC is a viable option. It's crucial to ensure all required tax returns are filed and that you are current with estimated tax payments for the current year. The IRS uses a formula to calculate the minimum offer amount, which is based on your disposable income and asset equity².