Category Archives: Options

IRS Options

Offer In Compromise – The worst things to do.

#1 Wait! As soon as you know that you’re going to have a tax debt you need to get on top of it. That doesn’t mean that you’re going to settle right now. It means that you’re going to start … Continue reading

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Can I change my mind after I agree to an Installment Agreement?

Conditions of your finances It’s often asked whether you can change an Installment Agreement to some other agreement after you agree to the first agreement. The answer is yes. The financial conditions that existed at the time of the installment … Continue reading

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IRS Private Debt Collection Agencies that the IRS uses

Background In December of 2015 Congress passed a law that allowed for IRS Private Debt Collection Agencies to collect inactive tax receivables. Generally the type of cases that the IRS has turned over to them are cases that have gone … Continue reading

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Offer in Compromise 35,000 were rejected in 2017, THAT’S GREAT!

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Offer In Compromise 35,000 were rejected in 2017, THAT’S GREAT! Each year, the IRS publishes a “Book Of Data” which describes IRS activity for the period as well as detailed information regarding the IRS budget, tax collection, taxpayer assistance, and … Continue reading

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Call Optima Tax Relief for the Fresh Start Initiative, says Mark Levin.

On the Radio Optima Tax Relief is one of the Nations largest Tax Resolution Companies. Mark Levin is one of the biggest radio talk shows in America. It makes sense to call them, or does it?. Why? We all have … Continue reading

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IRS 433A Financial Statement

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NEVER submit a 433A Financial Statement or even talk about financial information with the IRS without Professional help! The 433A Collections Information Statement or 433A Financial Statement is the tool which the IRS determines your ability to pay. Properly filling … Continue reading

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Las Vegas asks, What happens if my Offer in Compromise is rejected?

Las Vegas asks, What happens if my Offer in Compromise is rejected? The Question, what happens if my Offer in Compromise is rejected is asked frequently.  The simple answer is that before you submitted your Offer in Compromise you most … Continue reading

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Q: What Happens to Penalties and Interest in an Offer in Compromise?

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OIC and Penalties and Interest Penalties and Interest as well as principle represents a number that the IRS considers full pay. When an OIC is filed it’s understood that the taxpayer is requesting that the IRS consider a number that’s less than full pay. Depending on … Continue reading

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Sorry Rush, No Go With Tax Defense Partners, do your homework.

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Sorry Rush, No Go With Tax Defense Partners. I will admit that I listen to Rush probably 8 of the 15 hours a week and I enjoy his show. However, I have a bone to pick with him about Tax … Continue reading

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Will the IRS Seize or Levy while an Offer in Compromise is pending?

Is an IRS Offer in Compromise (OIC) is a Self Imposed Seizure? Of course it is and NO there’s no seizure while an OIC is pending. However, timing is everything. Years ago if you owed the IRS back taxes they … Continue reading

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Where do you list the amount of tax debt you owe on the OIC form?

The Offer In Compromise does not care about how much you owe. You don’t. An Offer in Compromise (OIC) is not about what you owe it’s about what could be collected in specific time. Time is the amount of time … Continue reading

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Can I get an Offer In Compromise if I don’t have any income?

The Offer In Compromise Formula Can I get an Offer In Compromise with no income. Yes, as long as you can make the payments and prove to the IRS that you’ll be able to make all the required payments. You must be … Continue reading

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How does Grandmas income effect the OIC application?

  The Formula The IRS bases your OIC income on total household income. It could be Grandma, a son, a friend or anyone who shares in the use of the home. If Grandma’s getting any form of income, pension, job … Continue reading

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Can my kids private school expense be included in an OIC?

Private Schools and OIC. No, back to public schools. Unless you can prove that a private school is necessary for special educational facilities for special needs children. Private School expenses are not allowable expense in the OIC.

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Strategize your OIC and why it’s important.

Strategize your OIC There are several ways to prepare OIC Strategies. You never want to lie to the IRS but there are some things that you can do to put yourself into a better overall negotiating position. The earlier you start … Continue reading

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