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…
A recent question was: How many different ways can the IRS try to collect taxes I owe?
- December 30th, 2021
- David Greene
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First, let me say that I hope all my readers had a wonderful Christmas. Two weeks ago I mentioned several collection methods. This week I will discuss seizure of property in more detail. If the taxpayer still does not pay…
What are the most important factors to consider in an Offer in Compromise?
- October 7th, 2021
- David Greene
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Recently I promised to further discuss requirements for having an Offer accepted and not later revoked. We assume the technical requirements discussed last time have neem met. To accept an Offer In Compromise, the IRS must be convinced that your…