offer in compromise — A proposal to the IRS (on an IRS tax form) to settle a tax debt for less than the amount owed. Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & Finances Category: Business Cash Flow Problems & Bankruptcy Category:… … Law dictionary
Offer in compromise — The Offer in Compromise (or OIC) program, in the United States, is an Internal Revenue Service (IRS) program under 26 U.S.C. § 7122 which allows qualified individuals with an unpaid tax debt to negotiate a settled amount that is less… … Wikipedia
offer of compromise — An offer to settle a dispute or difference amicably for the purpose of avoiding a lawsuit and without admitting liability. A tender or offer to settle or compromise a claim. The fact that such offer has been made is generally not admissible at… … Black's law dictionary
offer of compromise — A concession by a party to a controversy, such as a reduction in claim, made for the purpose of settlement of the controversy. Daniels v U. S. Rubber Co. (Tex Civ App) 199 SW2d 533 … Ballentine's law dictionary
compromise — com·pro·mise 1 n: an agreement resolving differences by mutual concessions esp. to prevent or end a lawsuit compromise 2 vb mised, mis·ing vt: to resolve or dispose of by a compromise cases in which a dispute is compromised E. A. Farnsworth and W … Law dictionary
offer — I n. 1) to make an offer 2) to accept, agree to; consider an offer 3) to decline, refuse, reject, spurn an offer 4) to withdraw an offer 5) a firm; reasonable; tempting; tentative offer 6) an introductory; job; trial offer 7) an offer to + inf.… … Combinatory dictionary
Compromise of 1850 — Before the Compromise: Gold Rush California applies to become free state South wants Southern California as slave territory Texas claims territory as far as the Rio Grande New Mexico resists Texas, applies to be free state Texas takes El Paso… … Wikipedia
compromise — {{Roman}}I.{{/Roman}} noun ADJECTIVE ▪ acceptable, fair, good, happy (esp. BrE), possible, pragmatic, reasonable, sensible, suitable ▪ … Collocations dictionary
offer — {{Roman}}I.{{/Roman}} noun 1 of help or sth that is needed ADJECTIVE ▪ generous, kind ▪ conditional, unconditional (both esp. BrE) ▪ The company has made a conditional offer. ▪ … Collocations dictionary
counter offer — n. an offer made in response to a previous offer by the other party during negotiations for a final contract. Making a counter offer automatically rejects the prior offer, and requires an acceptance under the terms of the counter offer or… … Law dictionary
