In order for an Offer In Compromise to be fully evaluated by the IRS, the taxpayer must have completed the following steps prior to submitting the offer:
1) File all tax returns legally required to be filed
2) Make all required federal employment tax deposits, if applicable
3) Make all required estimated payments for the current tax year.
When submitting the Offer In Compromise for processing and evaluation, the taxpayer must include the following:
1) A complete, accurate, and current year Form 656, and
2) A complete, accurate, and current year Form 433-A and or Form 433-B if applicable.
The Internal Revenue Service will only consider those offers utilizing current forms. The IRS will not consider offers received on outdated forms or without the required information statements included.
All require corroborating documents which includes three months of recent bank statements and proof of certain expenses must be included.
Here at Lefstein-Suchoff CPA & Associates, we have tremendous experience preparing and submitting Offer In Compromises, and we have tremendous luck obtaining positive results.
For assistance with this or other tax or IRS problems, please contact us at 201-947-8081 or 646-688-2807, or email us at firstname.lastname@example.org.