Fill Irs Form 13844 Delinquent 2025

Welcome, this is a 2016 offer and compromise update. I'm Jade Freeborn, a licensed Washington tax services specialist. You might have seen some of our other videos. I just wanted to give you a more updated and detailed explanation of how the offer in compromise could work for you, and provide more detail than the average tax professional usually gives. I've made a case on our website, w8act.comtexresolutiontalk.com, that the bottom line of this fresh start initiative is another name for it. Many tax relief companies give it that name. The bottom line question when you're looking at an offer in compromise is whether you have back tax debt that you can't afford to pay back. Can you pay it off before the debt expires? I'm going to illustrate this with a real-life case example of one of our customers and show you how it works. So, this client owes some pretty old debts from 2005, 2006, and 2007. The first thing we do with a customer who has back taxes is determine if they qualify for an offer. We find out what the CSED (Collection Statute Expiration Date) is. As you can see, we have 2005 expiring in January 2017, 2006 expiring in December 2017, and 2007 expiring in March 2019. The statute of limitations for collection expiration date is basically 10 years after your debt was assessed. There are things that can extend the statute limitations, such as bankruptcy or a failed offer in compromise. That's how this date is determined. The most important thing is when the last debt can expire, and for this case, it expires on March 9, 2019. So, from there, the guy owes $176,000, which is a lot of money. Our next step is to determine his financial statement. This guy has a pretty...