More O I C Questions

[erchess]

Am I correct in my understanding that accepted OIC Applications are available for the public to read? Do they really have client names and SSNs?

[Jiggers]

Available for the public to read?

Am I correct in my understanding that accepted OIC Applications are available for the public to read? Do they really have client names and SSNs?

Are you sure? I don't think that is correct. The OIC is confidential information and not available for public disclosure.

[WhiteOleander]

Actually, I took a correspondence course over ten years ago about OIC's. I truly don't remember much. And we don't do OIC's in our office.

But, I do remember the author saying that the client should be told that their financial info would be open for public viewing. I think it said it would be available for one year after the OIC was accepted.

The IRS has to post the financial info about the OIC because they accepted less than the amount of tax due. Now that's what the author said. Somewhat in the sense that the IRS is in a fiduciary position for the taxpayers. So, the tax payers have a right to know that not all tax was collected.

[erchess]

All I know

is what I read in the relevant pub and I don't know how to copy and paste from a PDF. (I only have adobe reader not any version of Acrobat.)

[geekgirldany]

I believe I may have found some info:


5.8.8.6 (09-01-2005)
Public Inspection File

1. Public inspection of certain information regarding all offers in compromise accepted under Internal Revenue Code (IRC) Section 7122 and is authorized by IRC Section 6103(k)(1).
2. A separate file of accepted Offer in Compromise records will be maintained for this purpose and made available to the public for a period of one year. The public inspection file will be maintained in a location designated by the Area office. The Area office may destroy the Public Inspection file after the year has expired.
3. For each accepted offer the file will only contain the following items:
* A copy of the Form 7249, Offer Acceptance Report
* The sanitized MFTRA-X or ANMF transcript.

4.The office that has accepted the offer will be responsible for providing all required documents as soon as possible after acceptance, for inclusion in the public inspection file.