How I settled IRS taxes for a client - 433 A OIC and 656 - 2022
Channel: EA Tax Resolutions
Date: 31/05/2022

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🤵 IRS Offer in Compromise Consultation in depth: https://calendly.com/anthony-eataxresolutions/discovery-call
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The IRS Offer in compromise 433 A OIC and 656, Fresh start program, or tax settlement is a program offered by the IRS to settle your taxes for less than you owe. 

I go through a case where we got the offer in compromise accepted. We go through the Form 433-A OIC and 656 along with the rejection letter, my response, the amended IRS Form 656, and eventually the golden ticket, offer acceptance letter.

 I was engaged by the taxpayer after the offer got rejected. After analyzing the rejection letter, determined the IRS had made some mistakes in their calculation. We submitted a statement stating everything that we disagreed with along with supporting documents. We then got an offer that got accepted.
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🔴 Why Most IRS Offer in Compromise Get Rejected: https://www.youtube.com/watch?v=_DTcLgfc8XE&t=1s
🔴 How to fill out IRS Form 433-A OIC  - 2022: https://youtu.be/hy8c-iA9AD4
🔴How to fill out Form 656 - 2022: https://youtu.be/DHbfhlul-vE

Helpful Resources:

IRS Form 433-A (OIC) (Rev. 4-2021)
https://www.irs.gov/pub/irs-pdf/f433aoi.pdf

IRS Form 656 (April 2020)
https://www.irs.gov/pub/irs-pdf/f656.pdf

IRS Financial Collection Standards
https://www.irs.gov/businesses/small-businesses-self-employed/collection-financial-standards

Internal Revenue Manual - Offer in Compromise - Financial Analysis
https://www.irs.gov/irm/part5/irm_05-008-005r

IRS Withholding Calculator
https://www.irs.gov/individuals/tax-withholding-estimator

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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).

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