HAVE YOU RECEIVED IRS NOTICES? NOT SURE HOW TO PROCEED? YOU HAVE OPTIONS:

• OFFER IN COMPROMISE – NOTE: NOT ELIGILBE IF ALREADY IN TAX COURT

• SETTLE TAX LIABILITY FOR LESS THAN FULL AMOUNT (REQUIREMENT: INCOME LESS THAN $100K AND TAX LIABILITY LESS THAN $50K)

• 3 TYPES OF OFFERS

1. DOUBT AS TO LIABILITY (NOT SURE ANY TAX OWED)
2. DOUBT AS TO COLLECTIBILITY
3. EFFECTIVE TAX ADMINISTRATION

• BASED ON ECONOMIC HARDSHIP

1. LONG TERM ILLNESS
2. CAN’T MEET BASIC LIVING EXPENSES
3. CAN’T BORROW AGAINST EQUITY
4. OLD AGE
5. LIQUIDATION LEAVES YOU PENNILESS
6. OTHER CIRCUMSTANCES