El Sobrante, CA asked in Tax Law for California

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?

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2 Lawyer Answers

Stanley H Block

  • Tax Law Lawyer
  • Pikesville, MD

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.

Zaher Fallahi

  • Tax Law Lawyer
  • Los Angeles, CA
  • Licensed in California

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.

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