Offer In Compromise Archives - John R. Dundon II, Enrolled Agent
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Offer In Compromise

23 May

Posted at 00:00h in Offer In Compromise

The IRS recognizes that many taxpayers are still struggling to pay their bills so the agency has been working to put in place common-sense changes to the Offer-in-Compromise (OIC) program to more closely reflect real-world situations. Generally an OIC is an agreement between a taxpayer and...

25 Jul

Posted at 00:00h in Family, Foreign Income, Marriage, Offer In Compromise, Paying Taxes, Private Letter Ruling, Tax Guidance & Preparation, Uncertain Tax Position

The IRS issued three rulings in 2010 to address how the income of registered domestic partners in California should be reported and taxed for both state and federal income tax purposes. In Chief Counsel Advice 201021050, the IRS determined that for tax years beginning after December 31, 2006, registered domestic partners in...

24 Jun

Posted at 00:00h in Back Taxes Owed, Bankruptcy, Intent To Levy, Intent To Lien, IRS Appeal, IRS Audit, IRS Centralized Insolvency, IRS Collections, IRS Enforcement, IRS Examination, IRS Levy, IRS Lien, IRS Penalty and Interest Abatement, Non-filed Tax Returns, Offer In Compromise, Paying Taxes, Self Employ, Small Business, Sole Proprietor, Sub-chapter S, Tax Guidance & Preparation, Tax Relief

Call 800-913-9358 to reach the Centralized Insolvency Operation. Hours are 7 a.m. to 10 p.m. eastern time. If the IRS is a creditor in a bankruptcy case, and you determine that IRS was not originally listed as a creditor, notification of the filing should be sent...

20 Jun

Posted at 00:00h in Appeals & Audit Resolution, IRS Appeal, IRS Audit, IRS Collections, IRS Examination, IRS Levy, IRS Lien, IRS Mediation, Offer In Compromise, Tax Guidance & Preparation, Tax Problems & Requests, Tax Relief

The IRS has revised Form 656, Offer in Compromise. When submitting an offer use the March 2011 revision of Form 656. Beginning July 5, the IRS will not accept outdated forms. If an offer is submitted on an outdated form, the IRS will return it. Here's the...

17 Mar

Posted at 00:00h in Appeals & Audit Resolution, Audit Reconsideration, Intent To Levy, Intent To Lien, IRS Appeal, IRS Audit, IRS Collections, IRS Enforcement, IRS Examination, IRS Levy, IRS Lien, IRS Mediation, IRS Penalties, IRS Penalty and Interest Abatement, Offer In Compromise, Tax Abuse, Tax Court, Tax Guidance & Preparation, Tax Problems & Requests

There is no standard form available for an application for Requesting the United States to Release Its Right to Redeem Property Secured by a Federal Tax Lien. Prepare your request in the form of a typed letter and submit it with all accompanying documents to: IRS,...

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