IRS Offer in Compromise   Tax Compliance
Channel: EA Tax Resolutions
Date: 12/09/2022

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🤵 IRS Offer in Compromise Consultation in depth: https://calendly.com/anthony-eataxresolutions/discovery-call
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One of the first factors the IRS decides on to consider an offer in compromise is if you are tax compliant. This means you need to have the last 6 years of tax returns filed. If they have not been filed, the IRS will not consider your offer and will automatically reject it. 

You must also be making payment on current tax period with estimated tax payments to file an Offer in Compromise that is acceptable

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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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