How to Fill Out IRS Form 433-A (OIC) for an Offer in Compromise

This is a real, redacted IRS Form 433-A (OIC) from an accepted $20 Offer in Compromise that settled $194,212.36 in IRS tax debt.

In this video, Logan Allec, CPA and owner of Choice Tax Relief, walks through the form page by page and explains the actual financial analysis behind the accepted offer.

You’ll learn how Form 433-A (OIC) addresses:

• Bank accounts, investments and retirement accounts
  
  
• Real estate and vehicle equity
  
  
• Business assets and self-employment income
  
  
• Monthly household income
  
  
• Actual expenses versus IRS-allowable expenses
  
  
• Remaining monthly income
  
  
• The calculation of a taxpayer’s minimum offer amount
  
  
• The supporting documents the IRS may require
  
  

In this case, the client reported approximately $3,865 in monthly income, $5,590 in monthly expenses, zero remaining monthly income and essentially no available asset equity. Those numbers supported a calculated reasonable collection potential of zero and an Offer in Compromise of $20.

Watch the complete story of the $194,212 tax debt settled for $20 here:

Link to full case video:    • Offer in Compromise Success Story: $198,21... 

Do you owe the IRS or your state at least $10,000 in back taxes? Or do you have multiple years of tax returns you need to get filed? Book a free consultation here: https://choicetaxrelief.com/free-tax-...

Current IRS Form 433-A (OIC):
https://www.irs.gov/pub/irs-pdf/f433a...

IRS Collection Financial Standards:
https://www.irs.gov/businesses/small-...

IRS Offer in Compromise information:
https://www.irs.gov/payments/offer-in...

The client’s name has been changed, and all identifying information has been redacted. Results like this are extremely unusual and are not typical or guaranteed. Offer in Compromise eligibility and settlement amounts depend upon each taxpayer’s income, allowable expenses, assets and individual circumstances. This video is for general educational purposes and is not individualized tax or legal advice.

#OfferInCompromise #Form433A #IRSTaxDebt