When submitting an Offer in Compromise for your client, use the January 2014 versions of Form 656-B, Offer in Compromise Booklet, and Form 656, Offer in Compromise.
The OIC user fee has increased from $150 to $186 in January. IRS will return applications submitted on older versions of the form with the old user fee.
Tip #6 discussed an Offer in Compromise. The IRS Offer-in-Compromise program allows you to settle your tax debt for less than the full amount you owe. An OIC may be an option if you can't fully pay your taxes through an installment agreement or other payment alternative. The IRS may accept an OIC if the amount offered represents the most IRS can expect to collect within a reasonable time. Click here to see if you may be eligible before you apply. We will notify you of other options if an OIC is not right for you.
For more information on the
IRS Offer In Compromise Program...
Contact the Tax Lawyers
at Marini & Associates, P.A.
for a FREE Tax Consultation
at www.TaxAid.us or www.TaxLaw.ms
or Toll Free at 888-8TaxAid (888 882-9243)
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