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Offers in compromise are not as simple as people think.
There is much time and effort spent by a Revenue Officer who is specifically trained to both accept and reject the OIC.
There’s a tremendous amount of due diligence that takes place for an IRS agent to accept an offer in compromise.” most offers in compromise are rejected by the Internal Revenue Service because of a pure lack of knowledge about the process, the procedures and the regulation about the program.” Michael Sullivan
Most people do not know that the offer in compromise once excepted becomes a public document that can be inspected by anybody.
The IRS offer in compromise is like an IRS audit, everything must be documented, everything must make sense, and it must be signed up off the line because the government is doing something that they do not need to do. They are reducing your tax debt.
I have reviewed hundreds upon hundreds of offers in compromise and it takes a true offer technician to get an offer in compromise through.
Simple offers in compromise with people who have little or nothing are really not difficult at all but once there is an asset base, profit and losses, assets, pensions and a host of other considerations, offers in compromise become very very complicated.
It is always best to seek a true tax professional if you have a higher debt with IRS because they’re going to give your case to a very seasoned agent who will go ahead and unpack your offer and your documentation.
FACT: The agent usually would rather reject the offers than accept the offer because of all the work that is done to get the offer approved.
If there is a reason they can reject the offer they will reject the offer. You need to put a nice tight package together with all documents and explanations. If you don’t you really have a little choice and to get it through.
Offer in Compromise Facts
Last year about 78,000 offers in compromise were filed and approximately 35,000 of those were accepted for national average of about $9500.Remember, this just an average.
Why use us, WE KNOW THE SYSTEM, We formerly accepted Offer in Compromise.
If you received a letter notifying you that the IRS rejected your offer, you have 30 days from the date of the OIC rejection letter to request an appeal of the decision.
If it’s been more than 30 days from the date of the rejection letter, your appeal won’t be accepted.
Appeals Process : Directions for appeals for rejected Offers in Compromise
Remember to mail your appeal to the office that sent you the rejection letter.
You can request an Appeals conference by preparing either a Form 13711, Request for Appeal of Offer in Compromise (PDF), or a separate letter with the following information:
1. Name, address, Tax Identification Number and daytime telephone number
2. A statement that you want to appeal the IRS rejection to the IRS Independent Office of Appeals
3. A copy of your rejected offer letter
4. Tax period(s) or year(s) involved
5. A list of the specific items you don’t agree with and a statement of why you don’t agree with each item
6. Any additional information you want Appeals to consider
7. The facts supporting your position on any issue that you do not agree with
8. The law or authority, if any, on which you are relying and
9. Your signature on the written protest, stating that under penalties of perjury, it is true, correct and complete.
For Businesses Taxpayers who owe back taxes
To determine whether you wish to request an appeal, if you are a corporation, S corporation, partnership, exempt organization, limited liability company (LLC) defined as a corporation or other LLC you should gather and review the following:
• Your Form 433-B, Collection Information Statement for Business (PDF) that came with the OIC rejection letter
• The supporting documentation submitted with the Form 433-B
• The Income/Expense Table (IET) and Asset/Equity Table (AET) that came with the OIC rejection letter
• Publication 5059, How to Prepare a Collection Information Statement (Form 433-B) (PDF)
• Form 656-B, Offer in Compromise (PDF)
For information on what to include in your appeal request, refer to Publication 5, Your Appeal Rights and How to Prepare a Protest if you Don’t Agree (PDF) and Publication 4227, Overview of the Appeals Process Brochure (PDF).
Individuals – Wage Earners and Self-Employed
To determine whether you wish to request an appeal, you should gather and review the following:
• Your Form 433-A, Collection Information Statement for Wage Earners and Self-Employed Individuals (PDF) that came with the OIC rejection letter
• The supporting documentation submitted with the Form 433-A
• The Income/Expense Table (IET) and Asset/Equity Table (AET) that came with the OIC rejection letter
• Publication 1854, How to Prepare a Collection Information Statement (Form 433-A) (PDF)
• Form 656-B, Offer in Compromise (PDF)
Your reasons for disagreement
In deciding whether to request an appeal, identify your specific items of disagreement by comparing the figures on your Form 433-A to the figures on your:
• Income/Expense Table (IET) Worksheet and/or
• Asset/Equity Table (AET) Worksheet
If you don’t have your Form 433-A, IET Worksheet or AET Worksheet, contact the person identified on the rejection letter for these documents.
In considering your reasons for disagreement, make sure you address each of the reasons that apply.
For each area where you have a disagreement, you’ll need to provide documents to support the income item, expense item and/or asset value you dispute.
Refer to Section 10, Form 656-B, Offer in Compromise (PDF) for a list of supporting documents and to “Kinds of Records to Keep” in Publication 17, Your Federal Income Tax (PDF) for further information.
Use tab to go to the next focusable element
1.I just can’t pay
2.I don’t agree with the amount determined as income for wages, pensions, Social Security income, alimony, child support, interest, dividends or other income (not from self-employment or rental property)
3.I don’t agree with the amount determined as the allowance for food, clothing and miscellaneous expenses
4.I don’t agree with the amount determined as the allowance for out-of-pocket health care expenses
5.I don’t agree with the amount determined as housing and utilities expenses
6.I don’t agree with the amount determined as transportation expenses
7.I don’t agree with the amount determined as expenses for taxes, child/dependent care, life insurance or other expenses
8.I don’t agree with the amount determined as the value of my vehicle(s)
9.I don’t agree with the amount determined as the value of my real estate
10.I don’t agree with the amount determined as the value of my cash, back accounts, investments and life insurance
11.I don’t agree that my special circumstances don’t warrant acceptance of my offer.
Call us for free tax consults for rejected OIC’s.
For those of you who have simple cases there’s nothing wrong with you attempting the offer in compromise however the taxpayer who owes more than $50,000 is caution.
You’re better off paying someone to get the offer accepted and to try this on your own and exposing your financial life to the IRS.
Offer in Compromise REJECTED + Former IRS Agent Offer Specialist + Christian Tax Debt Service + IRS Tax Consultants
