
Our
mission was to create an offer in compromise "one stop"
resource that provides all of the IRS or State
information required to prepare and file a viable
proposal. To meet our
goal we have compiled the following offer in
compromise library that:
-
Will provide detailed
instructions to calculate the four primary
formulas required, including:
-
Net
Equities
-
Net
Income
-
Future
Income, and
-
Reasonable
Collection Potential
-
Will
address martial and shared living expense issues
-
Will
explain the administrative evaluation process that occurs after submission.
-
Will
provide access to both IRS and State resources.
-
Will
provide consumer alerts, and
-
more
!
Note:
The States have generally adopted IRS rules,
regulations and standards associated with an offer in
compromise so the concepts and formulas presented are
largely applicable to both Federal and State programs.
If
you are preparing an offer our table of contents is a good bookmark and
quick reference that will answer your questions as you
complete the required forms.
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.
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 of these issues in
detail.
This
discussion provides detailed instructions to determine
the amount of your adjusted net
realizable equities or net worth that must be included
in your offer to settle your back tax debt.
This calculation is the first of
four mathematical components required.
This
article provides specific instructions to determine
the amount of your monthly adjusted income that must
be included in your offer and will therefore address issues
related to tax authority imposed financial standard
parameters otherwise know as allowable monthly expense
limits.
This
discussion determines the total amount of your future
income that must be included in your proposal.
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
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 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 compromise
promoters.
An
explanation of the preliminary services we
provide to assure that you are eligibility to apply
for relief before you embark on a path that may result in
rejection.
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 proposal
The
official IRS manual governing the rules, regulations
and administration of the offer in compromise program.
OFFER
AND COMPROMISE ASSISTANCE
(suggested
order)
RELATED
TOPICS
OFFER
AND COMPROMISE LIBRARY
ARTICLES
AND INFORMATION
FORMS AND FORMULAS
State
& IRS Collections
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