Have client that owes about $50,000, mostly, now, in interest and penalties. She files MFS. She has no assets, as the home is in the husband's name. Wouldn't this be a good candidate for the OIC? Is this a difficult process? Require an attorney? Can a lowly tax preparer do this?
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Last edited by zeros; 04-07-2015, 11:58 AM. -
OIC Answer(s)
Where are they in the process of the CSED date? And can they ride out the CSED date with a CNC circumstance? Do the financials on the individual and see what their disposable income is. If at $0 or negative dollars based on standards, see about the CNC option.
You are going to have to check the collection statue end date to see if they are getting close to that time. You do not want to implement an OIC, have it not approved, and in the interim, the clock would have stopped the collection period time. You will have to do some digging in this circumstance for your client to see what is best.
Regards,
Ray
PS: If you have any questions in this matter, I specialize in tax resolution issues. Let me know if you need any help. -
Not for a lowly tax preparer (myself included). Have them contact a competent professional such as Ray. I believe Larson Tax Relief to be ethical and they gave me some free advice over the phone once. I believe there are a lot of unethical firms interested mainly in collecting fees and poor prospects of success do not matter.Originally posted by zeros View PostComment
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