What constitutes a severe financial hardship? Home › Forums › Offers-in-Compromise › What constitutes a severe financial hardship? Tagged: OIC This topic has 0 replies, 1 voice, and was last updated 5 months, 1 week ago by Peter Mitchell. Viewing 1 post (of 1 total) Author Posts November 5, 2020 at 6:45 pm #44203 Peter MitchellParticipant I have a prospective tax resolution client who owes approx. $95K for tax year 2019. The taxpayer appears to have sufficient assets to make a full payment although I’m looking at the balance sheet to determine solvency. What type of circumstances would constitute a “severe financial hardship” if full payment is made? Author Posts Viewing 1 post (of 1 total) You must be logged in to reply to this topic. Log In Username: Password: Keep me signed in Please type the answer 76 + = 84 Log In