offer in compromise

If the IRS forgives your tax debt, is that considered TAXABLE INCOME under the tax code, thereby giving rise to MORE TAX LIABILITY? Do you really have to pay MORE taxes if the IRS settles your tax debt for less than you owe through an offer in compromise? In this episode, I answer these questions, showing you what the IRS says about this issue...and why!

Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/

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- 7 Secrets About Your Tax Debt the IRS Doesn't Want You to Know: https://choicetaxrelief.ac-page.com/s...

Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/

In order to qualify for an IRS offer in compromise, you'll likely have to prove to the offer examiner or offer specialist that you have very little net monthly disposable income. This is very difficult (if not impossible) to do if you aren't actually paying for your basic living expenses, such as rent or a mortgage. While exceptions exist, it probably doesn't for the asker of today's question, who makes $130,000 a year and lives with his parents.

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If you owe back tax debt, book a FREE tax relief consultation here: https://calendly.com/choice-tax-relie...

If you have equity in your home, you may be wondering if having this equity will prevent an offer in compromise from being successful. The answer is more complicated than you may think, and I answer it in this episode, including an example of how two different taxpayers may BOTH have $100,000 of tax debt and may BOTH have $200,000 of equity in their home but only ONE of them would qualify for an offer in compromise.

Call 866-8000-TAX or visit https://choicetaxrelief.com/free-cons... to book your FREE tax relief consultation!

The IRS rejects the majority of offers in compromise, and for good reason — most people simply don't qualify. In this episode, I dig into why. That said, there may be other tax relief options for you even if you don't qualify for an offer in compromise! I get into these as well in this episode.

Watch All My Tax Relief Videos (Playlist):    • TAX RELIEF 

If you need to settle your back taxes, an IRS offer in compromise just might be the ticket to fixing your tax problems and settle with the IRS.  Unfortunately, however, many taxpayers — and tax professionals — don't know what they're doing when submitting an offer in compromise to the IRS.  So in this episode, I go over my seven top IRS offer in compromise tips so you can qualify for an offer in compromise and submit yours with the best odds of success!

⬇️ More Tax Relief Videos:
- Offer in Compromise Guidelines and Formula:    • Offer in Compromi... 
- Haven't Filed Taxes in Years?  Here's What To Do:    • Haven't Filed Tax... 
- IRS CP14 Notice Explained:    • CP14 Notice From ... 
- My Offer in Compromise Basics Video:    • Offer in Compromi... 
- IRS Installment Agreements Explained:    • IRS Installment A... 
- IRS Currently Not Collectible (CNC) Status Explained:    • Currently Not Col... 
- My Tax Relief Videos Playlist:    • TAX RELIEF  

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