Best Certified Public Accountants in Aloha, OR

This is a yes/no answer. If you owe the IRS more than $10,000 in 941 tax liability you can fully expect to have to provide information about your business. If the liability is more than $25,000 in 1120 income tax debt, the same thing applies. However, if you owe less than $50,000 in personal income tax debt or trust debt you may not have to provide information about your personal finances.

After we have completed the initial investigation, we will send you a report. Within the Report, we will inform you of how much you owe and if you are missing any returns. If you are missing returns, we will prepare and file all missing tax returns. Secondly, we will review your financial condition and ability to pay, utilizing either the form 433-A or 433-B. Once we have completed the financial review process, we will have a much clearer idea as to what you may qualify for as far as resolving your IRS liability.

The answer is usually it depends. However, the standard Offer in Compromise can take up to a year to be finalized. Meaning from the time we are retained to work on your Offer in Compromise, to the time it is accepted, paid, and all liens are removed, it can take up to 1 year.

Yes. Currently Not Collectible status serves as a last resort, and the IRS continues to charge you the related fees. In addition, the IRS computers will alert a field officer to investigate if you submit a tax return that shows a significant increase in your income or if the statute of limitations is about to expire.