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On the other hand, if he cannot afford the payment, OIC is considered, and that too after the reasonable potential collection [url=http://www.rtnagel.com/airjordan.php]nike air jordan pas cher[/url] (RCP) is calculated. The taxpayers offer must be equal or larger than the calculated RCP, or IRS would generally dismiss the request for an OIC. For the record, the RCP is an indication of how IRS measures the ability to pay of the taxpayer, and the calculation process would take into account the taxpayers assets such as real estate properties, bank accounts as well as automobiles. The RCP would also consider predicted future income, minus the basic living expenses that would be incurred [url=http://www.achbanker.com/hollister.php]hollister france[/url] by the taxpayer of course.

To file for an IRS letter of compromise, you would need to first fill up the latest version of [url=http://www.ilyav.com/uggsoldes.php]boots ugg pas cher[/url] the Form 656 (Offer in Compromise). You would generally list down all the tax liabilities that you own on this form, and negotiate with IRS for all the tax periods that you have listed on Form 656. There is a $150 application fee attached with the form that you would have to pay unless your offer is based on doubt as to liability. You would also be exempted from paying this application fee if you are an individual that falls under the low-income [url=http://www.mxitcms.com/abercrombie/]abercrombie milano[/url] exception clause. To qualify for this clause, your total monthly income must be below 250% of the poverty guidelines that is released by the Department of Health and Human Services. If you fall into this [url=http://www.mquin.com/saclancel.php]lancel pas cher[/url] category, you would need to fill up Form 656-A (Income Certification for Offer in Compromise Application Fee and Payment) in addition to Form 656.

If your offer has been denied by the IRS, you would be notified through mail, and would have the opportunity to appeal the decision at the IRS Office of Appeals. You would be required to appeal within 30 days from the date of the rejection letter. If your OIC is returned to you due to reasons such as an incomplete application, you would [url=http://www.rtnagel.com/louboutin.php]louboutin pas cher[/url] have no right to appeal the decision.

To conclude, the IRS Offer in Compromise program is a suitable option to explore if you are at a loss of how you are going to resolve your delinquent tax liabilities. You could either choose to complete your IRS Form 656 on your own, or seek professional help for you to overcome your back tax woes. If you want to seek professional help, Freedom Tax Relief is probably one of the more legitimate firms in existence today that could help you with your tax liabilities. You would also probably have a better chance of obtaining good terms and getting your [url=http://www.rtnagel.com/airjordan.php]jordan pas cher[/url] OIC accepted when you hire a professional tax attorney to negotiate with IRS on your behalf. Good luck!
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