We’re at the time of year again where everyone is receiving their W-2′s and other tax information and you are ready to file those 2008 tax returns. If you owe the IRS money this isn’t always an exciting time because you don’t have to worry about getting a refund because the IRS always keeps any [...]
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The Impact of Medical Bills on Your Offer in Compromise
Question: I have a lot of medical bills that I have to pay each month because of a surgery I had several years ago. Will those medical bills help my offer in compromise? Answer: Yes. Medical bills are one expense that the IRS will allow 100% of what you can prove you actually pay. I [...]
Using Your Deed to Pay an Offer in Compromise
Question: Can I use the deed to a house we own free and clear to make an offer in compromise to the IRS for back taxes? Answer: The short answer is no. Basically, in determining whether you qualify for an offer in compromise, the IRS will examine you entire financial “self.” You can kind of [...]
What Documents are Needed for an Offer in Compromise?
One of the hardest parts in filing an offer in compromise for many people is the process of getting all of the documents together. The IRS requires that you submit copies of many documents. Including: pay stubs, three months of bank statements, medical bills, three months of utility bills, etc. Many people do not keep [...]
What is an Offer in Compromise
So, you’re here, but you aren’t sure what an offer in compromise is. You got on Google and started typing in all of the things you could think of to try to figure out what you can do to get the IRS off of your back. You have seen the late night television commercials where [...]
