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Ring an Offer In Compromise. Additional instructions and web-fill versions of forms are available on the Department s website at www.ncdor.gov. Contact a Customer Service agent at 1-877252-3052 for assistance with specific questions. What is an Offer in Compromise? The North Carolina Offer In Compromise program allows qualifying, financially distressed taxpayers the opportunity to put overwhelming tax liabilities behind them by paying a lump sum amount in exchange for the liability be.

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How to fill out the NC OIC-101_DSA online

The NC OIC-101_DSA is an important form for taxpayers looking to settle their tax liabilities through the Offer in Compromise program in North Carolina. This guide provides comprehensive and user-friendly instructions to help you fill out the form accurately online.

Follow the steps to complete the NC OIC-101_DSA effectively.

  1. Click ‘Get Form’ button to obtain the form and open it in an online editor.
  2. Begin by entering your personal information in the designated fields. This typically includes your name, address, and contact information. Ensure that all details are accurate to avoid processing delays.
  3. Provide the Offer in Compromise amount you are proposing. This amount should be calculated based on your financial situation, specifically your reasonable collection potential.
  4. Fill in your financial information, including assets and liabilities. Make sure to include all necessary supporting documentation, such as bank statements and income details, as outlined in the form's instructions.
  5. Review your entries for accuracy. Double-check that all required fields are completed and that your calculations are correct.
  6. After ensuring your form is complete, save your changes. You may have the option to download, print, or share the filled form directly from the online editor.

Complete your NC OIC-101_DSA form online now to take the first step towards your tax settlement.

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The taxpayer has a right to specify the particular tax liability to which the IRS will apply the 20 percent payment. Periodic Payment Offer – An offer is called a "periodic payment offer" under the tax law if it's payable in 6 or more monthly installments and within 24 months after the offer is accepted.

The North Carolina Offer In Compromise program allows qualifying, financially distressed taxpayers the opportunity to put overwhelming tax liabilities behind them by paying a lump sum amount in exchange for the liability being settled in full.

There are 2 basic Offer in Compromise formulas: On a 5-month repayment plan: (Available Monthly Income x 12) + Value of Personal Assets. On a 24-month repayment plan: (Available Monthly Income x 24) + Value of Personal Assets.

NC Gen. Stat. §105-237.1 authorizes the Secretary of Revenue to accept full settlement of a liability for a lesser amount than is due when in his or her opinion it is in the best interest of the State.

But statistically, the odds of getting an IRS offer in compromise are pretty low. In fact, the IRS accepted only 15,154 offers out of 49,285 in 2021. Internal Revenue Service. 2021 Internal Revenue Service Data Book: Collection Activities, Penalties, and Appeals.

An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can't pay your full tax liability or doing so creates a financial hardship.

Penalty and Interest: A penalty for failure to pay (5%) will be assessed for failure to withhold the amount of North Carolina income tax required to be withheld.

The minimum acceptable amount of an OIC is based on the taxpayer's RCP — reasonable collection potential. The IRS, like every other government agency, has rules and standards for determining reasonable collection potential. RCP is equal to the quick sale value of the taxpayer's assets plus net monthly income times 60.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232