Go-To Guide To An IRS Offer In Compromise The fact that you find yourself here reading this page likely means that you are in a position that you would rather not be in. Indeed, owing more federal income tax than you are realistically able to afford is not a pleasant set of circumstances for anyone to find themselves in. However, just because the outlook may initially look dismal does not mean that all hope is lost. In fact, your hope may very well come in the form of an IRS Offer In Compromse. Let's take a look at what this entails, as well as answer some of the most commonly asked questions on the topic.