The focus of our practice is civil and criminal taxpayer representation, as well as bankruptcy and commercial litigation. The IRS’s new 2012 “Fresh Start” initiative has made this time maybe the best time ever if you live in New Haven, Connecticut to file an Offer-in-Compromise (“OIC”) with the IRS.
We can tell you that in the past it has often been difficult to have an OIC accepted by the IRS. However, in an effort to both help taxpayers and get its arms around its ever growing inventory of collection cases, the IRS has rolled out a 2012 initiative that makes it easier to resolve past tax debts, including:
- A reduced window for reviewing dissipated assets;
- A significantly reduced “future income” calculation for the OIC;
- A streamlined Offer-in-Compromise program that reduces the amount of information requests for certain taxpayers meeting the threshold; and
- Allowing its Centralized Offer personnel to actually call taxpayers and/or their representative, allowing issues to be cleared up faster and moving the OIC process along.
The key, of course, to any successful OIC is the up-front analysis to determine if the taxpayer is an OIC candidate.
If you would like to discuss resolving an outstanding tax in Connecticut, whether through bankruptcy, offer-in-compromise or installment agreement, please feel free to contact me at (860) 494-4786 or by email at egreen@convicerpercy.com
Eric L. Green, Esq.
Convicer, Percy & Green, LLP
Glastonbury, CT w New Haven, CT w Stamford, CT
Comments(0)