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Has anyone out there done an offer in compromise?




compromise for what?

Sub: #1 posted on Fri, 02/15/2008 - 08:42

ladybug ladybug

(Posts: 2757 | Credits: )

lady, it is an offer to pay a lesser amount of taxes than what you owe. I once was going to do it , but the paper work to fill out was never ending. My accountant did it for me, but it was just too complicated. I wound up just paying what i owed with a payment plan that was affordable to me,

Sub: #2 posted on Fri, 02/15/2008 - 08:47

kashzan kashzan

(Posts: 5401 | Credits: )

For back taxes, I want to do one and they say you can do it yourself but I don't understand all of it and it cost an arm and a leg to have a lawyer do it for you. You only get one shot at it so you don't want to mess it up.

Sub: #3 posted on Fri, 02/15/2008 - 08:47

hope99 hope99

(Posts: 91 | Credits: )

hope, the government is very easy to work with. They will give you a payment plan that you can afford.

Sub: #4 posted on Fri, 02/15/2008 - 08:48

kashzan kashzan

(Posts: 5401 | Credits: )

An offer in compromise is when an offer is made to the IRS to settle a tax bill. It is usually presented by a tax lawyer to the IRS and then the IRS can accept it or counter. I personally have never done it. I went to the office to set up a payment plan. That is where I learned about it. I found the IRS very easy to work with but I had to go into CNC status which means currently not collectable. Do not go to CNC unless you can't avoid it. They slap a lien on you

Sub: #5 posted on Fri, 02/15/2008 - 08:50

Frogpatch Frogpatch
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(Posts: 5382 | Credits: )

I have a payment plan of 100.00 a month and I have paid for 2 years plus surrendered any income tax returns for the last two years. At this rate I will be paying until I die as with interest and penalties that keep adding up it just doesn't go down.

Sub: #6 posted on Fri, 02/15/2008 - 08:54

hope99 hope99

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The best payment plan they could offer me was more than I could afford. They are going to check back on me this year to see if things improved

Sub: #7 posted on Fri, 02/15/2008 - 09:10

Frogpatch Frogpatch
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Don't they slap a lien on you even if you set up payment plans?

Sub: #8 posted on Fri, 02/15/2008 - 09:16

hope99 hope99

(Posts: 91 | Credits: )

hope..what was the amount you settled down and agreed to pay?..and did you have a tax lawyer settle this amount for you? I don't think there is a lien on what you are paying if they agree to a settlement ...amount you now owe is figured in settlement agreed upon.. but I could be mistaken

Sub: #9 posted on Sat, 02/16/2008 - 01:59

socksfullofrocks socksfullofrocks

(Posts: 488 | Credits: )

I didn't settled down to any amount and I did it myself over the phone with the IRS. Acutally they considered me someone who has a CNC status but we agreed on this montly payment so I just keep paying.

Sub: #10 posted on Sat, 02/16/2008 - 08:58

hope99 hope99

(Posts: 91 | Credits: )

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