IRS Offer In Compromise for Dummies

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  • เผยแพร่เมื่อ 24 ธ.ค. 2024

ความคิดเห็น • 52

  • @perceptiveprof
    @perceptiveprof 9 หลายเดือนก่อน +8

    I have filed this TWICE! I cannot tell you how much incompetence exists with the Mephis TN office.

    • @benfreyberg9477
      @benfreyberg9477 4 หลายเดือนก่อน

      What exactly? Just curious

  • @emilyb6440
    @emilyb6440 3 หลายเดือนก่อน +3

    This is the first time ever in my adult life I owe taxes back, I signed up to payment plan but my hours at work were cut, so I’m check to check. I don’t have money to pay the IRS & I’m mortified what will happen next. I don’t know what to do

    • @eataxresolutions
      @eataxresolutions  3 หลายเดือนก่อน

      Give us a call! 800-245-0596

  • @moby1017
    @moby1017 9 หลายเดือนก่อน +4

    Why am I paying FED tax at all? Isn’t it voluntary since it was never ratified?

  • @daisyymichelle
    @daisyymichelle 7 หลายเดือนก่อน +3

    I owe 58K and make around 90k a year. Not sure if I qualify

    • @eataxresolutions
      @eataxresolutions  7 หลายเดือนก่อน +1

      Please give us a call to find out. 800-245-0596

    • @yobabythegoat
      @yobabythegoat 7 หลายเดือนก่อน

      Have they threatened you

    • @daisyymichelle
      @daisyymichelle 7 หลายเดือนก่อน

      @@yobabythegoat no cause I have been paying installments since 2020 lol

  • @virginiagonzalez9403
    @virginiagonzalez9403 หลายเดือนก่อน

    Helpful Video, thanks for info 👍

  • @VictoriaAdams-ud4oi
    @VictoriaAdams-ud4oi 7 หลายเดือนก่อน +1

    I do.
    Not have any backtaxes I owe this balance. $15,000 this year's taxes

  • @jcsantamaria7394
    @jcsantamaria7394 ปีที่แล้ว +2

    Thanks for the information

  • @TruthLove333
    @TruthLove333 ปีที่แล้ว +2

    Thanks for the info, wish I knew about this earlier. So I'm currently low income and have been for some years. Back taxes are from 2016, $7000 and in 2019, $1300, so $8300 total. From all that you mentioned, it sounds like I qualify, if I do, what would happen if I inherit money before that one year or so period of assessment? Would that mean I'm no longer considered low income and then would not qualify?

  • @hyojinlee
    @hyojinlee ปีที่แล้ว +2

    Thank you for this video!

    • @eataxresolutions
      @eataxresolutions  11 หลายเดือนก่อน

      Thank you for watching!

    • @MrDmacc1
      @MrDmacc1 6 หลายเดือนก่อน

      ​@@eataxresolutionsDoes the I r s offer something like this for late business taxes? If so, what do they base the qualification on if the business?Is no longer making money or have any income? Thanks in advance god bless you

  • @jhartmac100
    @jhartmac100 4 หลายเดือนก่อน +4

    Why are we all paying extra tax when we claim 1 or zero??? EVERYONE I know OWES every year

    • @eataxresolutions
      @eataxresolutions  4 หลายเดือนก่อน

      You should adjust your W4 to have more money withheld from your paycheck. line 4c on the W4

  • @scottdub843
    @scottdub843 10 หลายเดือนก่อน +1

    Thanks, Is the OIC a good vehicle to pay my outstanding tax bill, the original principal, minus penalties and interest. Let's say I asked the IRS, "hey, I'll pay all the taxes I owed minus penalties and interest". Is that possible?

    • @eataxresolutions
      @eataxresolutions  10 หลายเดือนก่อน +1

      Hey! I went over your comment in my most recent livestream! Hope this helps! If you have any other questions I go live every Monday at 4P.M. PST. Be sure to stop by and ask your TurboTax Question. The link is time stamped to when i answered your question. th-cam.com/users/liveozFJYOmHHdI?si=lBbyXtg0qtapmBST&t=3009

  • @annoravetz5188
    @annoravetz5188 8 หลายเดือนก่อน

    So in 2015, I had to cash my defined benefit pension, in order to pay half the equity I owed to my spouse’s bankruptcy receiver (Under our agreement I owed him .25 of the equity $47,000, when son turned 18) to be able to keep my house where both myself and both of my kids, who were college students at the time, lived. My former company happened to be having a cash out option at the time. I paid the rest with savings in an IRA. I need to amend this return to get my pension cash out excused from any taxes. Apparently the law was changed in 2019, but do I have any hope because this happened to me in 2015? My AGI that year was $105,000, but my earned income was only about $60,000.

  • @MannyScans
    @MannyScans 4 หลายเดือนก่อน +1

    Its insane that they are allowed to add interest on this debt.

  • @shesgotdogs
    @shesgotdogs 9 หลายเดือนก่อน

    On SSDI, my mortgage and living expenses are way above my income. But I have equity in my house which I can't access unless I sell. So IRS will say I should sell, no CNC?

  • @Dontez82
    @Dontez82 2 หลายเดือนก่อน

    I sent in my OIC, and now it shows that my account information is unavailable. It has been like that for a month now. It basically has zero balance for my IRS account, but I never got a letter about my account is being processed. I know it's not zero balance, but it says "Your Information Is Not Available at This Time". Is this normal? And what happens next?

  • @amandaferrell2475
    @amandaferrell2475 ปีที่แล้ว +1

    Does an OIC have an impact on credit score?

  • @mantis834
    @mantis834 8 หลายเดือนก่อน

    Trying to fill out the pre-authorize form but it doesn't seem to be applicable to ex-pats, citizens living abroad?
    At the address page there is no option for what country you live in, only which state and county, implying US only.
    I owe about $7K (total of my CP504 notices), earn very low income, so I feel like it's worth a shot in applying for this, but can't figure out how!

  • @adnanfotih4275
    @adnanfotih4275 9 หลายเดือนก่อน

    Hello, i owed taxes since 2016 it’s been now 9 years if I wait another one more year is going to be 10 years this mean is not collectible I will not own them anymore . Thank you so much.

    • @pakosilva373
      @pakosilva373 6 หลายเดือนก่อน +1

      Nope , the ten years period begins when you file, you actually are getting deeper in debt since the IRS charge fees and interest!

  • @ConsciousCrypto
    @ConsciousCrypto ปีที่แล้ว +1

    Does a ROTH IRA have to be listed? I thought the IRS didn't want to leave their taxpayers destitute just to handle tax issues.

    • @MsTek
      @MsTek ปีที่แล้ว

      If you think the US government doesn't want to leave people destitute, you haven't lived here long enough.

  • @GisellesCurls
    @GisellesCurls 3 หลายเดือนก่อน

    I have a Tax Lien, how would an OIC help?

    • @eataxresolutions
      @eataxresolutions  3 หลายเดือนก่อน

      If an offer get accepted and the payment terms have been met, the IRS will remove your lien.

  • @Dontez82
    @Dontez82 3 หลายเดือนก่อน

    Does the IRS account for taxes on your gross income? Because the amount left over is not actually what I have left over for Remaining monthly income

  • @Gamer.lay4L
    @Gamer.lay4L 5 หลายเดือนก่อน

    If I send 3 months of bank statements and they don’t look at them until 9 months later will they ask for recent ones to see current pay stubs

  • @tylerdurden9903
    @tylerdurden9903 11 หลายเดือนก่อน

    what if your home is in a trust? can they bust the trust?

    • @eataxresolutions
      @eataxresolutions  10 หลายเดือนก่อน

      Depends on the type of trust

  • @oojollyrabbitoo6704
    @oojollyrabbitoo6704 6 หลายเดือนก่อน

    I owe 5000 dollars. I make less than 33k a year. I have a few questions: What should I do while I'm waiting for my offer in compromise to be accepted? How do I know if they consider me low income?

    • @eataxresolutions
      @eataxresolutions  5 หลายเดือนก่อน

      There really is nothing to do at this time other than wait for a letter in the mail from the IRS.

  • @wakeywakey8603
    @wakeywakey8603 ปีที่แล้ว

    But if I amend my 2018 tax return, and I already Overpaid for year 2018, will I get a refund or is it too late?

    • @eataxresolutions
      @eataxresolutions  10 หลายเดือนก่อน

      it is too late to claim a refund on a 2018 tax return. The IRS will only issue refunds 3 years back.

  • @mikebabicz5318
    @mikebabicz5318 9 หลายเดือนก่อน

    how much is your fee for this ?

    • @eataxresolutions
      @eataxresolutions  9 หลายเดือนก่อน

      Depends on the complexity of your case. Give us a call so we can find out the work involved in your case and the fee we would charge. 800-245-0596

  • @718savior
    @718savior 6 หลายเดือนก่อน +1

    I had a client who forgot to give me their 1099 form and I filed her taxes already from 2022. The irs now says she owes $3k, can she just submit the form and be done with it
    &
    when will they start taking money from her if she doesn’t pay by her due date that is in July ? Thanks great page by the way

    • @eataxresolutions
      @eataxresolutions  5 หลายเดือนก่อน

      I’d refer you to our IRS CP2000 for dummies video on how to respond. It will take about 3-6 months before collections moves forward. th-cam.com/video/FFYhVmBBhqk/w-d-xo.html

  • @carlosferdinand9047
    @carlosferdinand9047 6 หลายเดือนก่อน

    I can prove it. I'm homeless

  • @thedanwriter1
    @thedanwriter1 11 หลายเดือนก่อน +1

    I owe 29k, 7k of that is pure interest. I make 130k a year, would i qualify?

  • @VictoriaAdams-ud4oi
    @VictoriaAdams-ud4oi 7 หลายเดือนก่อน

    I do.
    Not have any backtaxes I owe this balance. $15,000 this year's taxes

  • @VictoriaAdams-ud4oi
    @VictoriaAdams-ud4oi 7 หลายเดือนก่อน +1

    I do.
    Not have any backtaxes I owe this balance. $15,000 this year's taxes

  • @VictoriaAdams-ud4oi
    @VictoriaAdams-ud4oi 7 หลายเดือนก่อน +1

    I do.
    Not have any backtaxes I owe this balance. $15,000 this year's taxes