When a client has multiple tax years with tax liability. How will one calculate the statue of limitations for the purposes of RCP to see if they are a good OIC candidate?
For example:
Tax payer owes 100,000
Tax yr 2015, timely filed,
Tax yr 2016, timely filed,
Tax yr 2017, timely filed,
Tax yr 2018, timely filed,
I literally put the balances in a spreadsheet, apply the equity in assets starting with the oldest period first, then start applying the future income payments, year by year. The moment you get to a year that will not be full paid they are good to do an OIC.