Tax Help For Offer in Compromise Applicants: New IRS Changes to Processing
For taxpayers who are filing for an Offer in Compromise, the IRS is undergoing policy changes that have positive effects on your application.
Prior to the most recent changes, offer in compromises are difficult and complex procedures that are more often rejected by the IRS for one reason or another than accepted.
However, news below suggests that while the IRS is not substantially increasing its “acceptance rate”, it is making efforts to turn away less applications solely on the basis of incomplete paperwork.
CCH (http://intelliconnect.cch.com) reports:
Policies for Review of Offers in Compromise Submitted with Insufficient Payments and Paperwork Changed
The director of SB/SE, Collection Policy, issued internal guidance to SB/SE employees outlining procedures for processability of certain offers in compromise. IRM procedures have required that any offer in compromise received without a Form 656-A, Income Certification for Offer in Compromise Application Fee and Payment, and without the application fee and/or the required TIPRA payment, be returned as not processable, regardless of the income reported on the Form 433-A, Collection Information Statement.
The revised procedures will require a review of the Form 433-A on any offer that is received without a Form 656-A and no application fee or less than the required TIPRA periodic or deferred payment and/or application fee. If, based upon the review, the offer meets IRS Low Income Guidelines as defined in Form 656, the offer will be considered processable and will be treated as if the Form 656-A had been included with the offer in compromise. The guidance provides specific procedures and criteria to review and process such applications.
Offer in Compromises can be tricky–don’t risk your chances of being rejected. Make sure that you follow all IRS guidelines for filing and make sure that you qualify before spending time with this process.
If you are unsure about your qualifications, you can consult tax help from a tax attorney, CPA, or Certified Tax Resolution Specialist who have expertise in the area. Chances are, a tax attorney has had much more experience with the offer in compromise application process than any regular taxpayer and hiring one will ensure that you get your maximum chances of approval.
Tax Resolution Services is a team of expert tax attorneys, CPAs, and Certified Tax Resolution Specialists who are here to give you the tax help you need. Call our office today at 1-866-IRS-PROBLEMS for a free tax resolution consultation or visit www.taxresolution.com
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