An Oakland Calfornia based Tax Return Preparation Firm - Company Message
Tax Tips

OIC offer in compromise

I am sure many of you have seen the ads for solving your tax problems for "pennies on the dollar'".

These firms charge large fees and in some cases don't do people much good.

You can do these yourself .. it takes time and you have to be rational about it.

The forms are long and require that you spend some time on them. But if you figure that the firms that do these often charge at least $2,500, then it could be time well spent.

Here are urls to get to the IRS website pages on this.

http://www.irs.gov/businesses/small/article/0,,id=104593,00.html

http://www.irs.gov/businesses/small/article/0,,id=104593,00.html

I have a client that managed to do one of these herself. She said it was timeconsuming, but she got a $16K IRS debt reduced to $1,200 .. she has been making payments since last year and with this year's refund, it should pay off the debt and she and her husband can sleep better with this large burden gone.

We don't do these OIC's, but if you use a professional, make sure you check them out. Most of the outfits that advertise are legitimate, however, they are expensive, have to be to pay for all the advertising.

If you want someone to do for you, check out your local Enrolled Agents. Not all of them do these, but  if you shop around you might be able to find a good one and perhaps get a better price.

try these two locations ..

for CA   www.csea.org

for national listings ..  www.naea.org

or do a search for you state and entolled agents



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