2. determine your precise tax account status
In order to even be considered by the IRS, an Offer In Compromise (OIC) must be accompanied with evidence you have filed all back year tax returns. The IRS won’t forgive any debt until it all returns are filed. So, your eligibility to file an OIC can’t be determined before you’ve filed your back returns. OICs submitted by taxpayers with unfiled prior year returns are automatically rejected.
Can you answer each of these questions for the last six tax years?
Did I file? | Did I file on time? | Did I paY any tax? | do I still owe any tax?
In order to determine the precise details regarding your tax account we’ll pull your transcripts from the IRS. Using an IRS Form 2848 (limited power of attorney) we access and analyze all information in your IRS taxpayer account. Tax history information in your IRS files provides a definitive picture of your tax landscape. Now that we know exactly where you stand the CPA counseling you can suggest the most cost effective next step.
COST: $375 | diY | (get your own transcripts - save 50%)
PROCESSING TIME: 10-15 DAYS after receipt of complete client information.