Tax Seminar #3 – December 3 2012

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R.C.P. – Example #2 OLD NEW Monthly Excess $4,000 4,000 48/12 Times $192,000 $48,000 Factor Assets/Equity $5,000 $5,000 R.C.P. $197,000 $53,000 27 May 21, 2012 OIC Rules Example #2: • Result too good to be true? • IRS may reject, using “not in the best interests of the government standard.” • Offer will be rejected if payment can be made within the remaining time of the statute. Note: If statute is 100 months, government will receive $400,000 over that time. Why would they accept $53,000? 28 74
May 21, 2012 OIC Rules • There will be no retirement of the first $400 of auto loan debt. Thus, even if the final payment of the automobile will take place within the horizon of the current analysis, the first $400 will be retained in the budget for evaluating the offer (5.8.5.17). 29 May 21, 2012 OIC Rules • The IRS will continue to allow $200 per month for older (over 6 years old) or high-mileage (over 75,000 miles) motor vehicles as an additional operating expense above and beyond the vehicle operating costs standards set forth on the IRS website. Up until the May 21 st announcement, this additional $200 would NOT be allowed if the Taxpayer had a monthly automobile loan payment. Under the new standard, the additional $200 in operating costs will no longer be tied to the absence of a car payment. 30 75
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The Zicklin Tax Seminar Series Tax
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E. MARTIN DAVIDOFF & ASSOCIATES CER
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• Payments of more than 24 months
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Reduced Offers Examples: One of the
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2 If you have any questions, please
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FACTS OFFER IN COMPROMISE CASE STUD
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Form 433-A (OIC) (Rev. May 2012) Us
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Section 3 (Continued) Cash value of
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Section 5 Business Income and Expen
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Section 8 Other Information Page 7
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INSTRUCTIONS TO TAXPAYER If not alr
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Mr. Yogi Berry September 19, 2011 P
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Mr. Jeffrey Austin January 5, 2011
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Texas Iowa, Kansas, Louisiana, Miss
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4. Filing of Tax Court Petition In
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Yogi Berra Estimated 2011 - 2012 Ca
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BY HAND IN OUR OFFICE Mr. and Mrs.
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Representing Clients Before the IRS
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Rules of Engagement in Dealing With
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Rules of Engagement: Dealing With I
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IRS Rules of Engagement: Under Prom
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Dealing with the IRS Regarding Coll
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IRS Announces New Effort to Help St
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Under New Rules, the IRS Will Now R
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Adjustments to IRS Lien Policies 15
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DIRECT DEBIT INSTALLMENT AGREEMENT
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LIEN HAS BEEN RELEASED 163
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617-316-2608 617-316-2606
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Online Payment Agreement Applicatio
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OUTDATED 171
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October 2011 Your Access to Free Cr
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FTC Facts For Consumers 3 access it
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FTC Facts For Consumers 5 or an unp
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Identity Theft 1. Example scenarios
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The Zicklin Tax Seminar Series IRS
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Notice and Demand of Tax Due • Th
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Unfiled Lien v. Filed Lien A filed
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Collection Appeal Rights Process
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IRS Appeals Can Also Help After the
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To Stop an IRS Levy • Resolve the
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How to File a CDP Request • Compl
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I. How Does A Tax Debt Arise? AGOST
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d G. 3 Notice - “Immediate Action
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3. If case is not assigned to the l
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payments. The only other asset is t
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(2) The Trust fund portion of the t
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Department of the Treasury - Intern
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Instructions for completing Form 91
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Collection Appeal Request (Instruct
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Request for a Collection Due Proces
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Information You Need To Know When R
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The Zicklin Tax Seminar Series IRS
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IRS Tax Collections: Liens and Levi
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Treasury Department Circular No. 23
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Table of Contents Paragraph 1. . .
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Paragraph 1. The authority citation
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of section 404(a) (2)), 404 (relati
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(1) The former employee applies for
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This notification must include the
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software, taxation, or ethics); and
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the matter within 60 days of the da
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otherwise prescribed in forms, inst
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Subpart B — Duties and Restrictio
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a rule with respect to that particu
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in writing by each affected client,
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(ii) Advise a client to take a posi
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(5) Marketed opinion — (i) Writte
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under paragraph (e) of this section
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their practice with the firm, that
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paragraph (a) of this section. (ii)
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§ 10.53 Receipt of information con
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as determined under section 6212 of
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and law in support. (2) Summary adj
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specifically provided for in this s
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§ 10.73 Evidence. § 10.74 Transcr
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the Secretary of the Treasury, or d
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to a conference and may be suspende
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Tax Seminar #3 – December 3 2012

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