There has never been a better time to try to settle your IRS debt than now.

For OICs accepted effective November 1, 2021, the IRS will no longer keep the current year refund for the year the offer is accepted. Example: if an offer is accepted on November 15, 2021 and the taxpayer files March 15, 2022 and is due a refund, the IRS will not offset it for the tax periods included on the form 656 (offer in compromise).