Can a taxpayer file more than one Offer in Compromise?
- April 18th, 2017
- David Greene
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Yes a taxpayer can certainly file a second Offer, especially when there is a change in his financial circumstances. However, we should look at another possibility first. When an Offer is rejected, the taxpayer has 30 days from the date of the official rejection…
What documents must be filed with an Offer based on Doubt as to Liability?
- January 11th, 2017
- David Greene
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Before I answer, I want to tell all my readers that the 2017 tax season will officially start on January 23 and the deadline for filing this year in April 18. The Offer in Compromise program is a voluntary program…
What does the IRS mean by “Currently Not Collectible” status?
- September 20th, 2016
- David Greene
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There is an IRS program called Currently Not Collectible Status. To qualify for that status you do not need to be destitute with no assets and no job. You do need to be in such a position that all or…
Can the IRS collect taxes accrued in another state after you move to a different state?
- September 13th, 2016
- David Greene
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First, unfortunately there is no question that ones federal tax liability will follow him to another state. The IRS can easily find you by several means, so it is just a matter of time before those nasty letters will be…
Learn more about the ability to file subsequent Offers in Compromise after rejection.
- August 30th, 2016
- David Greene
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Last week I discussed the rejection of an Offer because the income was too high and then the Offer applicant was laid off. I discussed the necessity of having a source of income to file an Offer at any time….
Can you file a second Offer in Compromise after one is rejected?
- August 23rd, 2016
- David Greene
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You can certainly file a second Offer after one is rejected, but only when there is a change in your circumstances, e.g. lower income or higher necessary living expenses or even loss of assets through no fault of your own. …
Please visit my blog at www.greenelaw.legal to learn about the IRS “Dirty Dozen” tax scams.
- July 19th, 2016
- David Greene
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Each year the IRS compiles its Dirty Dozen tax scams – the worst of the worst. Here they are. 1. First on the list is Identity Theft. We addressed this in May. 2. Phone scams – One type of phone…
Which is better, an Offer in Compromise or Installment Agreement – Part 2
- June 21st, 2016
- David Greene
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In my last blog I stated that if the taxpayer does not qualify for an Offer in Compromise, then we look at an Installment Agreement that is intended to pay the debt in full. However, sometimes the IRS will accept…
Which is better, an Offer in Compromise or Installment Agreement?
- June 14th, 2016
- David Greene
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If you qualify for an Offer In Compromise due to your current financial situation, then it is always better to do the Offer. Often we can offer the IRS a small fraction of the total amount you owe. If the…
How does the IRS use your excess monthly income in calculatiing an Offer in Compromise?
- May 17th, 2016
- David Greene
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The Offer guidelines state that the IRS will look at either 12 or 24 months of net excess earnings when evaluating an Offer In Compromise. However, first the Offer Specialist must look at the sum of the monthly net excess…