Divide this text into sentences and correct mistakes: 1. So good morning and welcome to this webinar on offers in compromise and overview. 2. My name is Jason Bowman. I'm an enrolled agent specializing in IRS collections representation, more commonly known as tax resolution. 3. This is what I've been doing full-time for nearly eight years. 4. Today's webinar is going to be a very quick overview of the offering compromise program. 5. This is intended for folks that are not familiar with the offer program, haven't been through it extensively, and want to do more of this type of work. 6. It is some of the most lucrative kind of work that you can do in your tax practice, and so it's worth becoming familiar with the various programs that the IRS has for resolving tax debts. 7. Again, how this works: please stick around for the entire hour, answer the polling questions when they're prompted, write down the attendance verification code words that are presented during the webinar. 8. You'll enter those into a form that you'll see later and be able to redeem your certificate of completion after the webinar. 9. Our course objectives today are to understand the pros and cons of offers in compromise. 10. Yes, there are some downsides to the OIC program. 11. Well, define the different types of offers in compromise. 12. Yes, there are three different types. 13. Understand what makes an OIC application processable by IRS standards. 14. As you might be aware, the IRS rejects about 60% of offers in compromise. 15. The reason they reject them is because they're not processable, and that is the reason they're not processable is because they're not submitted properly. 16. So we'll talk about that. 17. Take a look at the taxpayers' responsibilities...
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Step By Step Offer In Compromise Checklist - Canopy: What You Should Know
Tax Exempt Status, Tax Exempt Listed Property, and Qualified Dividends processing for individuals and businesses. This software gives you a quick and easy way to prepare your IRS offers without the need for paper documents. Additional Tools and Resources for Offer in Compromise Canopy Tax Planner and TurboT ax Free Enrollment Do you need a plan for filing tax-related documents? Do you need a planner to keep your financial goals in a consistent place? Do you need help understanding your tax return for an offer in compromise? This free Canopy Tax Planner and TurboT ax enrollment package will help you understand your tax filing options. OIC Tools, Tips & Resources Check out these OIC guides and resources for information on filing your paperwork correctly and on preparing answers to common questions. Forms for Offers in Compromise Canopy provides free online forms that may be used for filing an Offer in Compromise report. To get a file you need to provide the following: 1. Form(s) describing your situation/situation. 2. Estimated total income tax due for the year. 3. Estimated tax due as shown on Form 1040 or Schedule C at the most recent tax return, or you may file Form 1040-C electronically if your tax situation has not changed over the past several years. For many people, this is the most accurate way to determine the tax you owe for the current year or the same year the last one ends. 2. The last pay stub(s) for the period(s) that include the year of the Offer in Compromise date. This will be completed either automatically on your E-Z Check or manually by using the Online Estimator on Canopy. 3. The last pay stub for the period(s) that include the year of the Offer in Compromise date. The pay stub should be completed for the entire pay period(s) that includes your Offer in Compromise date and may be included in your “pay stub” report. (Please note that even if the last pay stub is for less than the amount due, this information will be included on the “last pay stub” report.) 4. Estimated gross income for the year based on information from Schedule B (Form 1040). (Note: This value may be different depending on where in the U.S. you are.) 5.
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