Thanks for coming back to IRSCompromiseHelp.com. If you haven’t already, please sign up for our newsletter to receive the free e-course “What Everyone Ought to Know about Tax Problems.”What is involved in submitting an offer in compromise? Is it just a short application? Unfortunately, no. The process of submitting an offer in compromise is [...]
Recently, I was asked by a reader: “Will the IRS usually accept an offer in compromise when you owe taxes?”
“Usually” is probably not the right word. But, in the right circumstance, the IRS will accept an offer in compromise every time. You must show the IRS that you do not have the future income or [...]
There are several different types of offers in compromise: doubt as to collectability (what we usually talk about and the most common type of offer in compromise which states that you simply do not have the money to be able to full pay your tax debt), doubt as to liability (where you believe you are [...]
Setting up an Installment agreement can be a challenge, but it is also a great way to resolve some IRS cases. Very simply put, an installment agreement is a way to pay off your tax debt with a monthly payment plan. You may full pay your tax debt or you may not, depending on the [...]
Question: I have filed an offer in compromise and want to know what the average time is for the IRS to approve my offer in compromise and finalize the process.
Answer: I’m glad that you have filed your offer in compromise and taken the first step towards resolving your tax problems with the IRS. The time [...]
In the good ole days you could submit your offer in compromise to the IRS and it wouldn’t cost you anything except a filing fee. So, it didn’t matter how much you were offering to settle your tax debt with the IRS you knew that you were going to have several months before the IRS [...]
Going through a divorce can muddy the waters when it comes to whose responsibility the IRS tax liability becomes. In a divorce case, the Court could order that one party of the other is solely responsible for the tax liability. However, because a family court is a state court it does not have authority to [...]
When you are filing an offer in compromise with the IRS you have to give the IRS a lot of financial information and proof. They want to see the last three months of bank statements, pay stubs, utility bills, investment account statements, medical bills and more. You can almost picture the offer in [...]
Many times people don’t have a clue how much they owe the IRS. In fact, they believe it is so much that if they even call to inquire the IRS is just going to carry them off to debtor’s prison. And you can forget going to the local IRS office in person to see how [...]
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 [...]