If you live in Asheville, NC and owe the IRS more than you can afford to pay, an Offer in Compromise (OIC) may be your best path forward. This program allows qualified taxpayers to settle their debt for less than the full amount—sometimes for just pennies on the dollar.

At Polaris Tax & Accounting, we help Asheville taxpayers determine if they qualify, structure the strongest possible offer, and get it submitted the right way the first time.

What Is an Offer in Compromise?

An Offer in Compromise is a formal IRS program that lets you pay less than what you owe if you can demonstrate:

  • You can’t afford to pay the full balance

  • There is doubt about the amount owed

  • Full collection would cause significant economic hardship

If approved, it resolves your IRS debt permanently—so long as you stay compliant for the next five years.

Do You Qualify?

The IRS evaluates three core areas:

  1. Income – What you earn monthly

  2. Expenses – What you spend on essentials

  3. Asset Equity – What you own (house, car, bank accounts, etc.)

If the IRS believes you can’t pay off your tax debt in full before the Collection Statute Expiration Date (CSED), you may qualify.

Polaris can help you calculate your Reasonable Collection Potential (RCP) to find your target offer amount.

Common Reasons Asheville Clients Are Approved

  • Self-employed income has dropped due to market shifts

  • Medical issues or caregiving responsibilities reduced work hours

  • Retirees on fixed income with high medical costs

  • Equity in home or car but not enough liquidity to pay IRS in full

Why DIY Offers Often Fail

Many Asheville residents attempt to file their own OICs—or hire low-cost tax mills. Most are rejected due to:

  • Incorrect asset valuation

  • Missing documentation

  • Overstating income or underreporting expenses

  • Submitting an offer while non-compliant with tax filings

Polaris has handled dozens of successful OIC cases, and we know exactly how to package a proposal that the IRS will consider seriously.

What Happens If Your OIC Is Accepted?

  • IRS stops all collections

  • You pay the negotiated lump sum or monthly amount

  • IRS releases applicable tax liens after full payment

  • You must remain compliant with filing and payment for 5 years

What If Your OIC Is Rejected?

You have the right to:

We can also evaluate whether the rejection was due to an IRS error or poor initial presentation.

How Polaris Helps Asheville Taxpayers

We provide:

  • Full eligibility screening

  • Financial document preparation

  • IRS transcript analysis

  • Accurate Form 656 and 433-A or 433-B submission

  • Direct IRS representation

  • Ongoing compliance support after acceptance

📍 While we serve clients throughout North Carolina, we proudly support Asheville residents with local insight, IRS expertise, and clear communication.

Local? You’re in Good Hands.

Even though IRS offices don’t operate in every NC town, Polaris offers direct tax resolution services to clients across:

  • Asheville

  • Weaverville

  • Hendersonville

  • Arden

  • Black Mountain

We operate virtually or in person depending on your needs.

📅 Schedule a Free OIC Consultation

Don’t Wait—The Sooner You Act, the Stronger Your Offer

The IRS uses strict time limits and financial formulas to determine whether to accept your offer. If your financial situation is unstable today, that could work in your favor—but if it improves later, your offer might be denied.

Let Polaris help you submit your Offer in Compromise now—while the window is open.