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Offer in Compromise
A Notice of Federal Tax Lien can provide a number of problems for a taxpayer.  Recently, the IRS has been releasing the Notice of Federal Tax Lien when a taxpayer successfully has an offer in compromise accepted by the IRS and pays the offer amount.  This is a wonderful benefit to the taxpayer as the...
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When calculating an offer in compromise amount, one of the biggest issues is a taxpayer’s equity in assets. ¬†If a taxpayer owns a home the equity in the home will need to be accounted for calculating the offer amount. ¬†This brings about the pivotal question, how is real property or a home valued for the...
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When an offer in compromise is submitted to the IRS, the IRS may agree that the taxpayer is an offer candidate, but not agree with the original offer in compromise amount.  Thus, can the initial offer in compromise be amended?  Yes, the offer can be amended to reflect a different amount and terms. This issue...
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The article below has been prepared to act as an IRS Offer in Compromise resource page whereby individuals can obtain necessary information regarding an IRS Offer in Compromise.  Please note, this information is not legal advice and should not supplement the advice of a tax attorney or tax professional. What is an IRS Offer in...
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Many people know that an offer in compromise is a tax settlement with the Internal Revenue Service.  But, why does the Internal Revenue Service and our government allow for such a tax settlement?  In many respects, you could compare an offer in compromise to a bankruptcy.  Of course, in a bankruptcy you are likely discharging...
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How much can I settle my IRS tax debt for? ¬†I have heard, and answered this question many many times. ¬†Of course, this is a common question for an individual or a business owner that owes taxes to the IRS. ¬†My answer is always, “it depends.” ¬†This is because the amount that the IRS will...
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A Denver tax lawyer at The McGuire Law Firm can assist taxpayers in resolving their debts and potentially settling their tax debt with the IRS through an offer in compromise.  The video below provides general information regarding the offer in compromise equation and certain deductions and exemptions taxpayers may be able to receive when calculating...
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A Denver tax lawyer at The McGuire Law Firm can assist you with IRS and tax matters.  Whether you need to resolve a tax debt or need assistance with tax planning or business tax matters and analysis, a tax lawyer at The McGuire Law Firm can help you or your business.  The video below has...
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IRS Form 433B OIC is the form a business would complete when compiling an offer in compromise in an attempt to settle their tax debt with the IRS.  John McGuire is a tax attorney at The McGuire Law Firm and has prepared the video below to provide some background and general information regarding Form 433B...
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The video below has been prepared by John McGuire, a tax attorney from The McGuire Law Firm regarding an IRS offer in compromise and submitting an offer in compromise to the IRS. ¬†You can speak with a tax attorney by contacting The McGuire Law Firm, with offices in Denver and Golden Colorado.   Contact The...
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