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Hi, I am submitting an Offer in Compromise to the IRS. I also

Customer Question
have a revenue agent that...
Hi, I am submitting an Offer in Compromise to the IRS. I also have a revenue agent that has asked me to submit a whole bunch of paperwork. I would like to know how do I send proof to the revenue agent that I have in fact filed the Offer in Compromise so the Collection process stops.
Submitted: 5 years ago.Category: Tax
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Answered in 41 minutes by:
5/2/2012
Tax Professional: Lev, Tax Advisor replied 5 years ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 30,714
Experience: Taxes, Immigration, Labor Relations
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Hi and welcome to Just Answer!

 

First of all - you send all paperwork via certified mail - and keep your receipt.

When you put all documents together - attach a cover letter and list all documents and number of pages for each document.

 

In additional - you may fax all documents to the revenue agent - in teh fax receipt - there will be number of pages.

 

You will not be able to stop the Collection process while the Offer in Compromise will be considered and teh debt is not fully settled.

However - the IRS has the authority for reporting accounts currently not collectible status. (CNC). Accounts can be removed from active inventory after taking the necessary steps in the collection process.

 

As a general rule, accounts will be reported as currently not collectible when the taxpayer has no assets or income which are, by law, subject to levy.

However, if there are limited assets or income but it is determined that levy action would create a hardship, the liability may be reported as currently not collectible. A hardship exists if the levy action prevents the taxpayer from meeting necessary living expenses. In each case a determination must be made as to whether the levy would result in actual hardship, as distinguished from mere inconvenience to the taxpayer.

 

Please see for reference - the IRS Policy Statements for Collecting Process Activities - http://www.irs.gov/irm/part1/irm_01-002-014.html

Lev
Lev, Tax Advisor
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Tax Professional: IRS Solutions, Certified Public Accountant (CPA) replied 5 years ago
IRS Solutions
IRS Solutions, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 42
Experience: CPA, CFS. Individual, corporation, estate, trust, non-profit tax filings. Tax debt relief.
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Simply provide a copy of the offer in compromise filing in addition to proof of mailing.

While your offer in compromise is being reviewed, any wage garnishment or bank levy will be rescinded. The IRS will not issue wage garnishment or bank levy while your offer is being considered. The statute of limitations for the collection process will be suspended for the duration of the offer in compromise review.
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Tax Professional: PDtax, Certified Public Accountant (CPA) replied 5 years ago
PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4,778
Experience: 35 years tax experience, including four years at a Big 4 firm.
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Hi from just answer. With respect to the first Experts, the participation of a Revenue Agent complicates things, since they are auditors. Filing an Offer while still dealing with a Revenue Agent is interesting. I like the idea that filing the Offer could hold off enforced collection during the consideration period, but filing while being audit will not be effective, and you will not get the administrative hold you seek. My guess is the RA did not like being sandbagged with this filing.

If you are not represented by a tax pro, consider hiring one. The insertion of a tax pro will take some steam from the RA's position, and perhaps allow cooler heads to prevail and get you a hold pending the results of your audit, and perhaps the exhaustion of your Appeal rights, etc.

I hope this helps. If so, please click Accept, and thanks from Just Answer.
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