An
explanation of the preliminary assistance we
provide to assure that you are eligibility to
participate in State and IRS compromise programs
before you embark on a path that may result in
rejection.
This
article is the last in a series of four articles
related to the computations required to prepare an offer
and
will sum the mathematical components future income and net
realizable equities to determine reasonable collection
potential, payment terms and eligibility.
This
site has been designed to be a "one stop"
source of IRS and State information to answer all
of your questions, help with the completion of the
required forms for submission and therefore, provides
an Offer in Compromise library that:
-
Will
provide access to both IRS and State resources.
-
Will provide detailed
instructions to calculate the four primary
formulas required to prepare the forms, including:
-
Net
Equities
-
Net
Income
-
Future
Income
-
Reasonable
Collection Potential
-
Will
address martial and shared living expense issues
-
Will
explain the process that occurs after submission
- Will
provide consumer alerts, and
-
more
!
This
discussion provides detailed instructions to determine
the amount of your adjusted net
realizable equities or net worth that must be included
in the amount you must offer to settle your back tax debt.
This calculation is the first of
four mathematical components required.
This
discussion explains the impact that errors can
have when preparing an IRS offer to settle
back taxes, will provide statistical facts, a buyer
beware warning and tips that will assist with choosing a competent professional and simultaneously protect you
from unethical offer and compromise
promoters.
A
complete table of contents that provides the ability to quickly
access articles and information to assist with the accurate completion of the forms and formulas
required to complete an IRS or state offer and compromise proposal
It is
our objective to answer your questions by providing the most complete, accurate, comprehensive and
trusted source of substantive detailed information available
on the web today associated with compromising a tax
debt. As a consequence, we
start with this article to provide an overview of the
content and format characteristics of this site.
If
you are preparing a compromise offer our table of contents is a good bookmark and
quick reference that will answer your questions as you
complete the
required forms.
ARTICLES
AND INFORMATION
RELATED
TOPICS
OFFER
AND COMPROMISE FORMULAS
OTHER
REFERENCE MATERIAL
OFFER
IN COMPROMISE
LIBRARY
State
& IRS Collections
(suggested
order)
Other
Resources
State
Revenue Links
This
discussion determines the total amount of your future
income that must be included in your
compromise proposal.
The
official IRS manual governing the rules, regulations
and administration of the compromise
program.
OFFER
AND COMPROMISE ASSISTANCE
This
article provides specific instructions to determine
the amount of your monthly adjusted income that must
be included in your compromise proposal
and will therefore address issues
related to tax authority imposed financial standard
parameters otherwise know as allowable monthly expense
limits.
This
discussion provides information about the IRS administrative process
that occurs after you submit an offer and will therefore explain the issues of
processibility, evaluation and financial analysis.
This
discussion provides general information to familiarize
you with IRS eligibility requirements, constraints,
fees, forms and formulas associated with an offer, before
specifically addressing each issue.
Note:
The States have generally adopted IRS rules,
regulations and standards so the concepts and formulas presented are
largely applicable to both the Federal and State programs.
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