OIC Application question


#1

Hello All,

I got done with OIC package. IRS personnel ask me to send in the OIC package with associated fees & documents. Is this normal process or the ONLY process? or is there a faster way for practitioners like fax or meeting IRS agent?

Thanks


#2

Yes, you have to mail it to Memphis.


#3

It must be mailed, unless you are assigned to a Revenue Officer. That individual should be your point of contact. Address:
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#4

As the others have said- you must mail it to the OIC Unit. The process takes several months, once the package is “processed” (meaning the IRS will review it later), your client’s Offer is placed in line (First IN, First OUT).

It sounds like this is your first OIC, if you need help, contact me Marc


#5

I just joined this community. I have done 6 offers in compromises but not one for years and did my 1st one using canopy software. When I submitted the 433A, I also submitted the supplemental schedule / monthly living expenses which almost seems like it is part of the 433A. Since I used all the national standard expense amounts and some of the actual expenses were lower, I ran into a problem with the IRS and the offer of $50 was just about to get accepted. Has anyone ever run into this problem ? It would be real nice if the schedules could be marked DO NOT SUBMIT WITH OFFER / KEEP FOR YOUR RECORDS. I would appreciate it if someone could answer this, thanks Eddie, tax accountant.


#6

Edward,

May I ask how much you were offering to settle for?

Thanks!

Keith


#7

Thank you for the offer of help. This is my first oic I bought the soft ware to help me do this and was told that it would walk me through all the steps. I am lost as where to begin. Ok I have a client that has not filled taxes nor has he paid taxes he thought this was taken care of by his boss. He kept asking for his w2’ and was told to ask the account. He did ask and was told to get it from his boss. Being a kid and dumb he just went on with life. 2005, 2006, 2008. 2007 he did not work much, but still no w2. Now the letters start to come saying he owes money. He put them away and did not really look at them and was afraid to get help.
He boss turned him in as a 1099 misc. from 1997 to 2004 he had always gotten a w2. He never changed over to 1099 misc. Now he wants to get Married so his wife to be has put this into motion to get him straight.
Last year he made $5752.00 and he had the highest amount of tax with held so he could start paying it off, but that is bit going to happen.

My question to you is where and how do I start this process? I have filled in the 433- A OIC, 656, 433-B. A few more in case, but I don’t know what to do with them. And can I get him a Currently Not Collectible. I can’t tell on this program what o do and when to do it. I would be so thankful for any information. The only documents I have are for his bank, and letters from Irs. What else should I have? He lives with Mother.


#8

What happened. Mine I will be using all standards because he has no receipts and lives with Mother


#9

You need help on this case. This is too much to just type an answer for. If you want my help. email me at marcdombrowskiea@gmail.com.

To answer your question:

  1. You must prepare and file the last 6 years (2011-2016)
  2. You must have him prepare the 433-A oic,draft- and you type it into the software. Have the taxpayer simply write in the info and you use that to prepare a final 433-a OIC.
  3. use IRS National Standards to finish the 433-A OIC and the software.
  4. don;t bother with the tax years older than 2011 (but this is where my advice can’t possibly work for all cases and I need much more info to help you as this could go many different ways)

#10

my cell is 917.653.3776. For some reason the email (to me and to you) keep bouncing.

My valid email is marcdombrowskiea@gmail.com. Yours came back to me:

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Your message wasn’t delivered to isluby49@yahoo.com because the address couldn’t be found, or is unable to receive mail.
The response was:
554 delivery error: dd This user doesn’t have a yahoo.com account (isluby49@yahoo.com) [0] - mta4122.mail.bf1.yahoo.com

Final-Recipient: rfc822; isluby49@yahoo.com
Action: failed
Status: 5.0.0
Remote-MTA: dns; mta5.am0.yahoodns.net. (66.218.85.139, the server for the
domain yahoo.com.)
Diagnostic-Code: smtp; 554 delivery error: dd This user doesn’t have a yahoo.com account (isluby49@yahoo.com) [0] - mta4122.mail.bf1.yahoo.com
Last-Attempt-Date: Mon, 15 Jan 2018 10:58:22 -0800 (PST)