As published in the Winter Park/Maitland Observer, Thursday Jan. 3, 2012 Edition Offers... Read More »
Offer in Compromise Questionnaire
Offers in Compromise (IRS settlements) are very difficult to get, but the IRS does grant them. I put together this short questionnaire for taxpayers to use to determine whether or not they qualify for an IRS settlement. Form 656 is the Offer in Compromise form. On it’s face the form seems simple enough, but if you read…
Read Full Article Categorized in: Offers in CompromiseIRS Financial Statements: How to Complete Them
If you can’t pay your tax debt in full, you will have to completely disclose your financial circumstances to the IRS. There is no way to avoid this disclosure requirement other than making full payment. A taxpayer’s financial information is provided on one or more of the following prescribed IRS forms: IRS Form Number Description…
Read Full Article Categorized in: Back Taxes, Blog Posts, IRS Settlements, Tax DebtsIRS Financial Statements: 433A, 433B & 433F
No matter what collection alternative you wish to pursue, you will be required to provide detailed financial information as a precondition to IRS consideration. The IRS uses several forms for this purpose each of which is discussed below. Form 433A – IRS Collection Information Statement for Wage Earners and Self-Employed Individuals The IRS will require…
Read Full Article Categorized in: Tax Collections