The North Carolina Offer In Compromise program allows qualifying, financially distressed taxpayers the opportunity to put overwhelming tax liabilities behind them by paying a lump sum amount in exchange for the liability being settled in full.

However, some general criteria for qualification include: Owing less than $50,000: The program is available to taxpayers with outstanding tax debts of $50,000 or less. If your debt exceeds this threshold, you may still qualify by paying down your balance to meet the requirement.

Tax relief programs help taxpayers reduce their tax bills through tax deductions, credits, and exclusions. Other programs help taxpayers settle their tax-related debts.

You will receive a notice of tax assessment if an error is corrected that increases the amount you owe or reduces the payments and credits changing the return from a refund to a balance due or if an audit adjustment by the Department results in additional tax due.

§ 105-241.24. The Department may collect a tax for a period of 10 years from the date it becomes collectible under G.S. 105-241.22. The 10-year period may be tolled for the same reasons the enforcement period for a certificate of tax liability may be tolled under G.S. 105-242(c).

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Confirmation Of Settlement Letter For Payment In North Carolina

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