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- Lessons from Your '08 Return
- Your 2008 taxes are done. Congrats! But you're not done yet. This is the perfect time to look for ways to lower your 2009 taxes, while you have all your records and forms handy. The sooner you get started, the more you'll save. ...
- Articles 2009-04-03
Additional Resources
- Software By Bay announces 'Offer in Compromise Software' - Including new Form 656-A - Required as of November 1, 2003.
- M2 PRESSWIRE-22 December 2003-Software By Bay: Software By Bay announces 'Offer in Compromise Software' - Including new Form 656-A - Required as of November 1, 2003C1994-2003 M2 COMMUNICATIONS LTD RDATE:12212003 PARSIPPANY, New Jersey - Software by Bay (www.softwarebybay.com) announced today...
- Research articles 2003-12-22
- New law tightens rules for IRS offer in compromise program
- The recently enacted Tax Increase Prevention and Reconciliation Act of 2005 TIPRA made major changes to the offer in compromise OIC program. The law tightens the rules for lump-sum offers and periodic-payment offers. Taxpayers submitting new offers must make a 20 percent nonrefundable, up-front payment in many cases. An...
- Research articles 2006-09-01
- Offer in compromise: a potential solution to a major tax liability
- As a result, taxpayers who are fully aware that their present and likely near future financial resources will not allow them to satisfy a liability to the IRS often do not know what avenues may be pursued to assist them in this seemingly hopeless dilemma. The answer may be an...
- Research articles 1996-12-01
- IRS and AICPA collaborate on OIC program.(Offer in Compromise)
- Since implementation of 1992 IRS Policy Statement P-5-100, describing the Service's commitment to the Offer in Compromise OIC program, the AICPA has been a strong supporter. When the program was expanded by the Internal Revenue Service Restructurin Since implementation of 1992 IRS Policy Statement P-5-100, ...
- Research articles 2005-01-01
- Acceptance of an Offer in Compromise May Preclude Further Relief
- IRC section 7122 authorizes the IRS Commissioner to compromise a taxpayer's outstanding tax liabilities. In general, absent fraud or mutual mistake, accepting an offer in compromise OIC conclusively settles the liability of the taxpayer specified in the offer. Two recent Tax Court decisions underscore this notion. Dutton In 1999, the...
- Research articles 2005-04-01
- Offer in compromise (version 4.1.2.128)
- Initial cost: $99, updates: $49.95. The Tax Institute (www.usataxrelief.com) A successful Offer in Compromise OIC may be the best way out of a bad situation for taxpayers with substantial federal tax liabilities. In 2000, the IRS settled for approximately $0.12 on the dollar, indicating that a successful OIC can be...
- Research articles 2003-10-01
- IRS, SBA hearings highlight offer-in-compromise issues.
- WASHINGTON -- The American Institute of CPAs, the Tax Section of the American Bar Association, and the American Association of Attorney-CPAs chipped in with some advice for the Internal Revenue Service in its handling of the Offer-in-Compromise prog WASHINGTON -- The American Institute of CPAs,...
- Research articles 2003-02-24
- New Web Tool Helps You Apply For Oic - United States. Internal Revenue Service launches offer in compromise web site service - Brief Article
- The IRS has debuted a new tool on its Web site to help customers apply for relief with an offer in compromise. The interactive application offers a five-step online OIC program that determines OIC eligibility, and provides the forms and information needed to submit an offer. The new program is...
- Research articles 2000-11-01
- Transtech Industries, Inc. Reports IRS Acceptance of Offer In Compromise
- PISCATAWAY, N.J. -- Robert V. Silva, President and Chief Executive Officer of Transtech Industries, Inc. (OTCBB:TRTI)(the "Company") announced the United States Internal Revenue Service's (the "Service") acceptance of the Company's amended Offer in Compromise (the "Offer").
- Research articles 2004-07-28
- George Tannous, EA -- Former IRS Agent -- Will Offer Free Service to Tax Payers on How to Submit an Offer in Compromise to the IRS on His Website, http://www.formerirsagent.com/
- George Tannous, EA -- Former IRS Agent -- announced today that he will include a section on his web site www.formerirsagent.com on how to submit a "Do It Yourself" DIY Offer in Compromise to the IRS on taxes owed and reduce your debt liability.
- Research articles 2007-05-15
- New OIC 20% partial payment requirement could backfire.(offer-in-compromise)
- The Tax Increase Prevention and Reconciliation Act of 2005 TIPRA amended Sec. 7122c (1) to require most taxpayers to make a 20% partial payment with an offer-in-compromise OIC application, effective July 16, 2006. The legislation was passed despite opposition from the AICPA, the American Bar Association's...
- Research articles 2006-10-01
- IRS revises offer in compromise application
- The Internal Revenue Service announced that its revised taxpayer application for an offer in compromise, the Form 656 package, is now available.
- Research articles 2004-11-05
- IRS breaks down barriers for new Offer in Compromise program, expand access for taxpayers
- The Internal Revenue Service is ushering in a new era for struggling taxpayers unable to pay their tax bills by expanding the Offer in Compromise program.
- Research articles 1999-06-01
- IRS renews AVM contract for its Offer-in-Compromise program
- Another avenue for traditional appraisals came under attack September 24, when the Internal Revenue Service renewed its contract with Basis100 Inc. for continued use of PASS, Basis100's property-specific automated valuation model, for use in the IRS' Offer-in-Compromise program, according to the Dow Jones News Service.
- Research articles 2002-09-22
- Congress tries to change the IRS Offer in Compromise program
- Earlier this year, Congress attempted to enact a proposal as part of the Transportation Bill that would have modified the IRS Offer in Compromise OIC program. However, the provision was stricken from the final version of the Transportation Bill that passed the Congress just prior to its August adjournment. Nevertheless,...
- Research articles 2006-12-01
- Offer in Compromise program bogged down in delays, backlogs. (Tax practice: the special report on news and trends for the tax professional)
- Growing delays in the Internal Revenue Service's Offer in Compromise program have created a stir among lawmakers, taxpayers and practitioners. A backlog of cases and longer processing times have contributed to the delays, according to a report completed by the General Accounting Office. The report was prepared at...
- Research articles 2002-04-22
- Tax Administration: IRS Should Evaluate the Changes to Its Offer in Compromise Program.
- GAO-02-311 March 15, 2002 A growing backlog of cases and longer processing times have prompted concern about the management of the Internal Revenue Service's IRS Offer in Compromise OIC Program. OIC inventory and processing time have grown despite significant increases in program staff. Program changes increased the...
- Research articles 2002-04-01
- SCTN Obtains Official Written IRS Approval of an Offer In Compromise Settlement
- Smart Chip Technologies (PINKSHEETS: SCTN) is pleased to announce that the company has obtained official written approval of an Offer In Compromise settlement from the IRS Appeals Division concerning the Company's past payroll tax liability. The settlement of this tax issue was reached after several years of negotiating with...
- Research articles 2008-09-30
- Offers in compromise.(bankruptcy protection )
- The courts reviewed the position that taxpayers who are in bankruptcy and cannot afford to pay their tax bill can use the offer-in-compromise procedure to reduce the amount of the bill. Charles Peterson, who owed $102,000 in payroll taxes, filed for chapter 13 bankruptcy protection. He...
- Research articles 2006-02-01
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