Why this IRS offer in compromise got rejected - 2022
Channel: EA Tax Resolutions
Date: 07/11/2022

EA Tax Resolutions Website: https://eataxresolutions.com/?utm_source=Youtube&utm_medium=Video&utm_campaign=Client+reacts+to+saving+%2469k+from+tax+audit+-+shorts
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🤵 IRS Offer in Compromise Consultation: https://calendly.com/anthony-eataxresolutions/discovery-call
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In this video we discuss how a recent IRS offer in compromise that I filed, got rejected. In short, it got rejected because he was not “tax compliant”, he hadn’t been paying his current taxes. Since the IRS requires that you pay current taxes in order to be considered for an offer in compromise, the offer got reject.

Learn from our mistake, if you are going to file an IRS offer in compromise be prepared to pay your current taxes moving forward.
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Other Helpful Videos:

IRS Offer in Compromise: What is it? Do I qualify to settle my back taxes with the IRS?
https://youtu.be/VK-Zx4fzUog

How the CSED can affect your IRS Offer in Compromise:
https://youtu.be/aQCLsDIBU5s

How to make quarterly tax payment:
https://www.youtube.com/watch?v=eh1yQiPquAw

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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).

#EAtaxResolutions #IRS #IRSOfferinCompromise #TaxSettlement #Taxes