Q: how much should i offer IRS offer in compromise
I owe the IRS $8994 2 adults 4 kids income dropped to $2300 my monthly expenses are more then income loans total of 18k we are having a very hard time we are getting a loan from a family member what is a reasonable amount to offer?
A: Friend, you may be a good candidate OIC or CNC status. If you are unable to afford an enrolled agent, CPA, or attorney to help with this there may be some free help in your area. Call California VITA (Volunteer Income Tax Assistance.) Also, many times the law school has a low-income tax clinic that can help guide you through the process. I hope this information helps you to get closer to your best resolution.
A: Work up a statement such as 433-A of the IRS to determine how much disposable income you have left after paying your living expenses. The information presented herein is for general purposes only. It is not intended to, and may not be construed as legal, tax or accounting advice. Neither is it intended for solicitation purposes. For specific advice, please consult an appropriate attorney in person. Good luck. Zaher Fallahi, Business and Tax Attorney, CPA.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.