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Old 01-07-2004, 01:19 AM
Harlan Lunsford
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Default Re: Offer in Compromise

SSP1 wrote:

- quote -

> My total income has not really gone up over the past 6 years
> as i am self employed earning gross about 85K per year and
> then less business expenses to make that income.
> Any thoughts on likelihood? Should i just fire away with
> that plus my explanation? What are the key issues they want
> to hear? and will it matter?


Although you don't really say what you're thinking of, I
assume you're wondering IF you might make them an offer they
can't refuse.

It's just not as simple as coming up with a figure and
submitting it. there's lots of financial calculations
involved, (so get a professional of course to help you.)
The proof of the pudding however, is this: Will the IRS be
better off, i.e. collect more with your offer, than they
could collect on your payment plan over the next four or
five years?

Are you under an installment agreement right now? How much
do you owe?

Happy New Cheer$,
Harlan Lunsford, EA n LA

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Old 01-05-2004, 12:00 AM
SSP1
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Posts: n/a
Default Offer in Compromise

My total income has not really gone up over the past 6 years
as i am self employed earning gross about 85K per year and
then less business expenses to make that income.

Any thoughts on likelihood? Should i just fire away with
that plus my explanation? What are the key issues they want
to hear? and will it matter?

thanks

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 

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