Monday, January 28, 2008

OIC- Offer In Compromise

Did you know that there are companies out there that can help achieve an Offer In Compromise

Well those that need this type of IRS Help, can find an tax consultant close to you. I wanted to spend a little time talking about Offer In Compromise and some of the details that go into achieving one as a resolution. Did you know that the IRS will investigate the following in order to evaluate whether or not you qualify for an Offer In Compromise:

They will review prior tax returns

*Pay Stubs

*Future Income Resources (SSA,Pension income,inheritance, receivables,)

* How do you calculate your future income? Using 3 offers and Monthly Disposable *Income,Short Deferred Payment Offer (24 months) for 60 months. A deferred payment offer is over the life of the collection status.

*Credit Application (Income declarations)

*Documents of Income (Commission Reports,pay stubs,etc.)

Stay tuned for more information concerning Offer In Compromise from a tax consultant !

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