How long does it take for an Offer in Compromise to be approved or rejected?
- November 14th, 2024
- David Greene
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Let me make one thing clear, dealing with the IRS is not like dealing with your neighbor down the street or a local business. It will not be resolved in a matter of a few weeks or even months, especially…
What documents does the IRS require to be submitted with an Offer In Compromise?
- July 22nd, 2024
- David Greene
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The Offer In Compromise program is a voluntary program that is offered to taxpayers who are delinquent in their taxes. Not everyone qualifies, but if you think you do and want to make an Offer you must disclose some private…
How soon can one submit a seccond Offer in Compromise?
- February 20th, 2024
- David Greene
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There is no minimum wait time between Offer submissions. However, a better question is, “Is there any hope if I submit another Offer after my first one was denied?” Yes there might be, depemnding on the length of time between…
When is the best time to file an Offer in Compromise?
- June 22nd, 2023
- David Greene
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In general, i.e. in terms of “now” as opposed to several years ago, this is a good time to deal with the IRS. They have generally been more willing to compromise and make better deals for the taxpayers than in…
Does an Offer in Compromise by one ex-spouse absolve the other from the debt?
- June 21st, 2023
- David Greene
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If you and your ex-spouse filed jointly, you both are jointly and severally liable for the entire tax bill. This means that you both owe the entire amount and the IRS can pursue either or both of you for payment…
Can one file a second Offer in Compromise after the first is rejected?
- May 11th, 2023
- David Greene
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Yes, you can certainly file another Offer, especially when there is a change in your circumstances. However, we should look at another possibility first. When an Offer is rejected, you have 30 days from the date of the official rejection…
What is an Offer In Compromise based on Doubt as to Liability?
- January 3rd, 2023
- David Greene
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The Offer based on doubt as to liability is not very common, but is very useful in certain situations. To make an Offer on this basis, there must be a genuine dispute as to the validity of the taxpayer’s liability. …
Is there a fee to set up an Installment Agreement with the IRS?
- August 16th, 2022
- David Greene
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Yes, there is an application fee for an Installment Agreement. The IRS used to charge a user fee of $43.00 to set up the account for the Installment Agreement. However, several years ago, this fee was increased to $105.00. Unlike…
Does the IRS ever forgive interest and penalties?
- August 2nd, 2022
- David Greene
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Many people who owe taxes more than five or six years old find that the interest and penalties are more than the original tax. This is because penalties keep being added for several years. In fact, there are more than…
What is the “Effective Tax Administration” doctrine?
- May 13th, 2022
- David Greene
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There are three methods under which an Offer In Compromise is considered. The first two are Doubt as to Collectability and Doubt as to Liability. The third (and newest) method under which you can submit an Offer is Effective Tax…