Educational Tax Tip: Can You Settle Payroll Tax Debt Through an Offer in Compromise?

Have you ever wondered if it’s possible to settle payroll tax debt with the IRS through an Offer in Compromise (OIC)? In some cases, the Internal Revenue Service may accept an OIC for payroll tax liabilities if the business or responsible party can demonstrate that the full balance cannot be paid and that the offer represents the most the IRS can reasonably collect. However, payroll taxes are closely scrutinized because they include trust fund taxes withheld from employees, and the IRS will typically require all returns to be filed and current tax deposits to be up to date before considering a settlement. 

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