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  • Category Archives: Offer and Compromise (OIC)

    Offer In Compromise TIP – Equity in income producing assets will generally not be included in the reasonable collection potential of a viable, ongoing business. We see many offer in compromise analyses that mistakenly include the equity in business assets and thus, taxpayers may end up paying a much higher offer amount or worse, not […]

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    Grammy Award winning R&B star, R Kelly, 44, is another name just added to the roster of celebrities who have failed to pay their income taxes, joining the likes of Dennis Rodman and most recently Lauryn Hill. Kelly reportedly owes more than $4.8 million in taxes dating back to 2005. According to MTV, the breakdown […]

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    Big news from the Offer and Compromise (OIC) front. On May 21, the IRS announced more flexible terms to help a greater number of struggling taxpayers make a “Fresh Start” with their tax liabilities. This phase of Fresh Start will assist some taxpayers who have faced the most financial hardship in recent years, said IRS […]

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