When to Submit an Offer in Compromise – Paul Gaukin CPA

Building blocksAn Offer in Compromise can be submitted at any time as long as it is not solely used as a tactic to slow down the collection process. This means that a taxpayer can submit an Offer in Compromise during the examination process, at appeals, after a case is in Tax Court, and in another other stage of the collection process. The earlier the better though, when you submit an Offer in Compromise collection activity is forced to cease until after the offer has been either accepted or rejected.

It is important to review your financial position as closely as possible before submitting an Offer in Compromise. The offer will suspend the statute of limitations in regard to the liability and therefore you should weigh the ability to having your offer accepted by the IRS.

About Paul Gaulkin CPA

Paul Gaulkin is a Certified Public Accountant and enrolled with the U.S. Treasury to practice before the IRS. Mr. Gaulkin possesses unique technical knowledge in the process of securing relief for taxpayers nationwide with IRS and State tax problems. With an accounting degree from Florida International University, he is able to transform complex tax and accounting problems into easy to understand solutions.


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