IRS Offer In Compromise for Dummies

Подписаться 8 тыс.

Просмотров 9 тыс.

50% 1

EA Tax Resolutions Website: eataxresolutions.com/?...
EA Tax Resolutions Phone Number: 800-245-0596
------------------------
In this video we go over all the basics you need to know about an IRS offer in compromise.
- What is an Offer in Compromise?
- How to qualify for an Offer in Compromise?
- Tax Debt to CSED
- How to file an Offer in Compromise?
- Form 656 Booklet
- Where to mail an Offer in Compromise?
- How long does an IRS Offer in Compromise take?
- Payment Terms of an IRS Offer in Compromise
If you are considering an IRS offer in compromise, you need to watch this video before moving forward.
---------------------------
🤵 IRS Offer in Compromise Consultation: ($500) in depth www.eataxresolutions.com/form...
🤵 15 min Tax Help Consult: (Free) www.eataxresolutions.com/form...
🔴 How to fill out Form 656 - 2022- • How to fill out Form 6...
🔴 IRS Form 433-A (OIC) Offer in Compromise Example - numbers used that got accepted by IRS. • IRS Form 433-A (OIC) O...
🔴How to fill out IRS Form 433-A OIC - 2022 - • How to fill out IRS Fo...
00:00 Intro
00:06 What is the IRS Offer in Compromise?
01:03 How to qualify for an Offer in Compromise?
05:28 How to file an Offer in Compromise?
09:07 Where to mail an Offer in Compromise?
10:03 How long does an IRS Offer in Compromise take?
11:45 Payment Terms of an IRS Offer in Compromise
12:43 Key Things to consider with an IRS Offer in Compromise
References:
Form 433-A (OIC) - www.irs.gov/pub/irs-pdf/f433a...
Form 433-B (OIC) - www.irs.gov/pub/irs-pdf/f433b...
Form 656 - www.irs.gov/pub/irs-pdf/f656.pdf
Form 656 Booklet - www.irs.gov/pub/irs-pdf/f656b...
///
Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).
#IRS #OfferInCompromise #433-a-OIC

Опубликовано:

1 июл 2024

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 37

@perceptiveprof 4 месяца назад

I have filed this TWICE! I cannot tell you how much incompetence exists with the Mephis TN office.

@jcsantamaria7394 9 месяцев назад

Thanks for the information

@eataxresolutions 5 месяцев назад

Happy to Help!

@hyojinlee 9 месяцев назад

Thank you for this video!

@eataxresolutions 5 месяцев назад

Thank you for watching!

@MrDmacc1 28 дней назад

@@eataxresolutionsDoes the I r s offer something like this for late business taxes? If so, what do they base the qualification on if the business?Is no longer making money or have any income? Thanks in advance god bless you

@TruthLove333 7 месяцев назад

Thanks for the info, wish I knew about this earlier. So I'm currently low income and have been for some years. Back taxes are from 2016, $7000 and in 2019, $1300, so $8300 total. From all that you mentioned, it sounds like I qualify, if I do, what would happen if I inherit money before that one year or so period of assessment? Would that mean I'm no longer considered low income and then would not qualify?

@annoravetz5188 2 месяца назад

So in 2015, I had to cash my defined benefit pension, in order to pay half the equity I owed to my spouse’s bankruptcy receiver (Under our agreement I owed him .25 of the equity $47,000, when son turned 18) to be able to keep my house where both myself and both of my kids, who were college students at the time, lived. My former company happened to be having a cash out option at the time. I paid the rest with savings in an IRA. I need to amend this return to get my pension cash out excused from any taxes. Apparently the law was changed in 2019, but do I have any hope because this happened to me in 2015? My AGI that year was $105,000, but my earned income was only about $60,000.

@moby1017 3 месяца назад

Why am I paying FED tax at all? Isn’t it voluntary since it was never ratified?

@mantis834 2 месяца назад

Trying to fill out the pre-authorize form but it doesn't seem to be applicable to ex-pats, citizens living abroad? At the address page there is no option for what country you live in, only which state and county, implying US only. I owe about $7K (total of my CP504 notices), earn very low income, so I feel like it's worth a shot in applying for this, but can't figure out how!

@shesgotdogs 3 месяца назад

On SSDI, my mortgage and living expenses are way above my income. But I have equity in my house which I can't access unless I sell. So IRS will say I should sell, no CNC?

@VictoriaAdams-ud4oi 2 месяца назад

I do. Not have any backtaxes I owe this balance. $15,000 this year's taxes

@amandaferrell2475 10 месяцев назад

Does an OIC have an impact on credit score?

@718savior 6 дней назад

I had a client who forgot to give me their 1099 form and I filed her taxes already from 2022. The irs now says she owes $3k, can she just submit the form and be done with it & when will they start taking money from her if she doesn’t pay by her due date that is in July ? Thanks great page by the way

@daisyymichelle Месяц назад

I owe 58K and make around 90k a year. Not sure if I qualify

@eataxresolutions Месяц назад

Please give us a call to find out. 800-245-0596

@yobabythegoat Месяц назад

Have they threatened you

@daisyymichelle Месяц назад

@@yobabythegoat no cause I have been paying installments since 2020 lol

@oojollyrabbitoo6704 24 дня назад

I owe 5000 dollars. I make less than 33k a year. I have a few questions: What should I do while I'm waiting for my offer in compromise to be accepted? How do I know if they consider me low income?

@scottdub843 4 месяца назад

Thanks, Is the OIC a good vehicle to pay my outstanding tax bill, the original principal, minus penalties and interest. Let's say I asked the IRS, "hey, I'll pay all the taxes I owed minus penalties and interest". Is that possible?

@eataxresolutions 4 месяца назад

Hey! I went over your comment in my most recent livestream! Hope this helps! If you have any other questions I go live every Monday at 4P.M. PST. Be sure to stop by and ask your TurboTax Question. The link is time stamped to when i answered your question. ru-vid.comozFJYOmHHdI?si=lBbyXtg0qtapmBST&t=3009

@ConsciousCrypto 9 месяцев назад

Does a ROTH IRA have to be listed? I thought the IRS didn't want to leave their taxpayers destitute just to handle tax issues.

@MsTek 9 месяцев назад

If you think the US government doesn't want to leave people destitute, you haven't lived here long enough.

@adnanfotih4275 3 месяца назад

Hello, i owed taxes since 2016 it’s been now 9 years if I wait another one more year is going to be 10 years this mean is not collectible I will not own them anymore . Thank you so much.