In an effort to help taxpayers that have an outstanding tax debt determine whether they may be eligible for an offer in compromise, the IRS has added a new Offer in Compromise Pre-Qualifier tool to their website. Read more
By adding this tool, the IRS believes that taxpayers and tax practitioners will save time by doing the work in advance of filing their return to determine if an offer in compromise is worth pursuing. This is important because an offer is generally not accepted if the IRS believes the tax liability can be paid in full as a lump sum or through a payment agreement. Read more
Click here to read the entire CrossLink Tax Update about the new IRS tool for Offers in Compromise.
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