Archive for the ‘Taxes’ Category

Considering Offer In Compromise Help For Your Taxes

Thursday, August 13th, 2015

aaoichAn offer in compromise help is granted to individuals who cannot pay the tax debts in full amount because of their circumstances. However, before this is being given, an individual should be eligible for this grant. Basically, the Internal Revenue Service will have to go through the person’s present condition and determine whether he is not capable of paying the tax debts charged to him. They will see if the person has fulfilled the filing as well as payment requirements. If an individual is in an open bankruptcy proceeding, he will not be eligible for an offer in compromise help. The Internal Revenue Service’ pre-qualifier assessments should be used in order to confirm the eligibility and prepare for the preliminary proposal.

Once a person becomes eligible for the offer in compromise, he will have to submit the necessary requirements posted in the IRS’ website. There is a non-refundable application fee for …