Offer in Compromise Guide

We are working hard to complete our Offer In Compromise Guide. Please check back regularly for updates.

Introduction

  • Introduction to offer in compromise:  basis for offer and doubt as to collectability.
  • Who is eligible for the offer in compromise?
  • Offer in compromise:  what to do before you file.
  • Offer in compromise:  calculation of reasonable collection potential.
  • Offer in compromise:  calculation of monthly household income and expense information.
  • Strategies for presenting your offer in compromise and selection of payment terms.

    • Forms

  • Preparing Form 433-A.
  • Preparing Form 433-B.
  • Preparing Form 656 and supporting documentation.
  • Doubt as to liability and Form 656-L.

    • Approval/Rejection

  • IRS evaluation of offer in compromise: how likely is your offer to be approved?
  • IRS acceptance of offer in compromise as pending.
  • Final acceptance and approval of offer in compromise by IRS.
  • IRS rejection of offer in compromise:  installment and partial-pay installment agreement options.
  • IRS rejection of offer in compromise:  bankruptcy and not currently collectible options.
  • IRS rejection of offer in compromise:  10-year statute of limitations on IRS collecting tax debts.

    • Seeking Council

  • Selecting a tax professional to handle your offer in compromise.

      • ________________________________________________________________________________________________________________________________
    Huddleston Tax CPAs of Seattle & Bellevue
    Certified Public Accountants Focused on Small Business
    (800) 376-1785
    40 Lake Bellevue Suite 100, Bellevue, WA 98005

    Huddleston Tax CPAs & accountants provide tax preparation, tax planning, business coaching, Quickbooks consulting, bookkeeping, payroll and business valuation services for small business. We serve Seattle, Bellevue, Redmond, Tacoma, Everett, Kent, Kirkland, Bothell, Lynnwood, Mill Creek, Shoreline, Kenmore, Lake Forest Park, Mountlake Terrace, Renton, Tukwila, Federal Way, Burien, Mercer Island, West Seattle, Auburn, Snohomish, Mukilteo, Seatac, Des Moines, Woodinville, Edmonds, Sammamish and Issaquah. We have a few meeting locations. Call to meet John Huddleston, J.D., LL.M., CPA, Lance Hulbert, CPA, Tawni Berg, CPA, Jennifer Zhou, CPA, or Jessica Chisholm, CPA. Member WSCPA.