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Do Interest and Penalties Continue to Accrue During the OIC Process?

April 26, 2017accrue Continue OIC penalties process

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Do Interest and Penalties Continue to Accrue During the OIC Process?

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Interest will not accrue on a taxpayer’s accepted OIC amount from the date of acceptance until the OIC is satisfied. However, interest and penalties will continue to accrue on the unpaid tax liability while your OIC is under consideration from the IRS.