What Is An IRS Offer In Compromise, Scottsdale IRS Lawyer.mp4
Silver Law PLC
2014-06-02
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Are you down and out? Have no assets? Just gone through bankruptcy? You may be entitled to an Offer in Compromise.
Under an Offer in Compromise at the Internal Revenue Service level, the first thing the IRS will do is, they will look at all your assets.
Depending upon the type of assets, Internal Revenue Service may discount that asset down to either 80% or 70% of the fair market value.
Once they determine what the fair market value of all your assets are, they will then come up with a number under what's called the Asset/Equity Table.
That number will then be added to the Income-Expense Table. Under the Income-Expense Table, the Internal Revenue Service will determine what your income is on a monthly basis.
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Silver Law PLC
7033 East Greenway Parkway, Suite 200
Scottsdale, Arizona 85254
Phone: 602-714-1878
Fax: 480-429-3362
Email: [email protected]
Website: http://www.taxcontroversy.com
Under an Offer in Compromise at the Internal Revenue Service level, the first thing the IRS will do is, they will look at all your assets.
Depending upon the type of assets, Internal Revenue Service may discount that asset down to either 80% or 70% of the fair market value.
Once they determine what the fair market value of all your assets are, they will then come up with a number under what's called the Asset/Equity Table.
That number will then be added to the Income-Expense Table. Under the Income-Expense Table, the Internal Revenue Service will determine what your income is on a monthly basis.
.
Silver Law PLC
7033 East Greenway Parkway, Suite 200
Scottsdale, Arizona 85254
Phone: 602-714-1878
Fax: 480-429-3362
Email: [email protected]
Website: http://www.taxcontroversy.com
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