4. gather and analyze detailed information. Decision: Offer in compromise or installment agreement?
Once all your returns are filed and your tax liabilities established, we determine your suitability to file an Offer in Compromise (OIC). The OIC may enable you to have all (rare) or at least a portion of your debt forgiven.
In this phase of the project, we gather specific information on your finances, income, assets, liabilities, and details of your living expenses. Though this important step requires effort and commitment on your part Maui Tax Counseling makes it as easy as possible by providing clear, easy to follow online instructions for gathering the required information and providing it to us. When following up with you regarding your information, we’ll help with tips on finding and developing this information if it is not immediately available to you.
After gathering your complete information we will analyze it do determine you eligibility to file an Offer in Compromise. If you are not a candidate for the OIC we move to the next step and suggest alternative These alternatives are less attractive, but represent attainable, affordable, workable tax debt solutions.
At Maui Tax Counseling, we’ll do everything we can to get an OIC filed for you - unless it’s a bad idea. Filing “long shot” OICs is always a bad idea.
COST: $750 | diy | cost reduction available
PROCESSING TIME: 10-15 DAYS after receipt of complete client information. Upon completion Maui Tax Counseling will make a recommendation on filing an Offer in Compromise, or negotiating an Installment Agreement, penalty abatement, or other less common options.