Types Of Offers – Killer IRS Offer In Compromise
When dealing with an IRS Offer in Compromise, there are a few main types of offers to consider: Lump Sum Cash Offer Short Term Payment Offer Deferred Payment Offer Each of these types of...
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When dealing with an IRS Offer in Compromise, there are a few main types of offers to consider: Lump Sum Cash Offer Short Term Payment Offer Deferred Payment Offer Each of these types of...
Retired Debt – OIC Acceptance As part of your offer, certain debt payments for mortgage, vehicle, etc. are considered as “allowable expense”. These expenses are subtracted form income to determine the monthly income available...
Payroll Taxes Trust Funds – Settling For Less Than The Full Amount Of IRS IRS offer in compromise should establish on a per entity basis. An individual, corporation (form 1120, 1120S), partnership (form 1065),...
Offer Requirements – What Happens When it’s Accepted? It’s a great accomplishment to have your offer accepted by the IRS. Even if you are paying the vast majority of the liability, you are saving...
Offer In Compromise Personal Income – Settling For Less IRS offers are done separately for each entity. Individuals, couples with joint liabilities, corporations, partnerships, trusts, all file separate offer forms. Individual Taxes Owed Separately Or...
Non-Liable Parties – Understand How The IRS Perceives Your Situation When filing an offer in compromise, the taxpayer must compute the offer amount. This is the total amount that you expect the IRS to...
Legitimacy Of An Offer In Compromise – Is this a legitimate program the IRS is really doing? When people read all the ads on the Internet about how they can save “up to 90%”...
IRS Standards Of Living Standards Guidelines For Establishing An Offer In Compromise Taxpayers submitting an offer in compromise to the IRS must prepare a the Form 433a. This is the IRS Collection Information Statement....
Effective Tax Administration – Get Your OIC Accepted! Most offers are filed based on the taxpayer’s ability to pay. Usually health, and age, play are small role in deciding whether or not the taxpayer...
Dissipated Assets – How They Affect Your OIC When considering an offer in compromise, the IRS must consider the taxpayer’s “Reasonable Collection Potential”. This is the amount that the IRS feels is the most...