Well, that’s great news that you have submitted your offer in compromise to the IRS. Assuming you submitted it property – that is with all of the correct forms, with the correctly written out checks, you have signed all of the documents, etc. – then you will usually receive a letter from the IRS within about 30 days that lets you know that they have received your offer in compromise and it is “processable.” Processable means that you correctly submitted everything so the IRS can assign it to an offer examiner to work through your offer.
Once you offer has been assigned to an offer examiner, they will send you a letter usually about 30 days after the first letter you receive from the IRS (about 60 days after you submit the offer in compromise). This letter usually asks for more information, updated information like new bank statements or pay stubs, and for clarification on certain issues in your financial form (Form 433-A).
At this point, the work begins and the negotiation with the IRS begins to get them to accept your offer in compromise. Good luck!
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