Reply To: Financial Guidelines for Different Types of Tax Resolution Solutions

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#10963
Bryan Haarlander
Participant

Gary, a simple Q, but not a simple A. CNC is basically where the taxpayer has no assets that can be liquidated to pay off the tax debt nor does the taxpayer have any income (after allowable IRS expenses) above that needed to pay his basis living expenses. If granted CNC, it is usually goof for 2 years at which time the IRS will reevaluate. As far as OIC and IA, a good starting point is to review Form 433 & Form 433-OIC to note the differences in the financial info requested by the IRS. When starting in this business, we had our work reviewed by an experienced tax resolution person to make sure that we knew what we were doing. You should also look into tax resolution software that will compute the OIC & IA offers. Good luck