October 10, 2012 by Jay Freeborne

As we are nearing the end of 2012 -- most people have a good understanding whether they will owe taxes for 2012 or NOT. If you are going to owe taxes for 2012 - or are about to file your 2011 return and owe, then it's time to think when you should file your Offer in Compromise to settle your debt.

The timing is delicate and truly depends on where you stand in the collection process. If you are in collections OR your case is assigned to a Revenue Officer -- then you might need to work out an installment agreement or show that you are uncollectible NOW...then wait UNTIL 2013 - to file your Offer in Compromise.

We have written about the RULE CHANGES in the Offer in Compromise extensively this year. Here's our articles...

Breaking News: OIC Rules Changes : Part I

Making Big Payments? Try an OIC...maybe

How much are you paying to IRS? Translate it into an OIC

Final Thoughts on NEW OIC's : Part IV

Owe taxes for 2011 or for 2012 or 2013 or 2014?  Call us and we'll examine the timing of when you should settle - 1-888-282-4697 or send me us an email: HERE

The Staff of Washington Tax Services

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