Fill Irs Form 13844 Pre 2024

Hi, this is Anthony, parent of Parents and Parent LLP. In this video, we're going to go over the IRS Offer in Compromise Pre-Qualifier. We will be using our client's actual numbers and discussing their recent success with having an offer of $1,000 accepted by the IRS appeals. I will provide you with a link to the IRS Offer in Compromise Pre-Qualifier where you can find more information. I have already filled in some of the necessary information, which we will go over in this video. The pre-qualifier will ask you several questions, including whether you are in a bankruptcy proceeding. If you are, you cannot file an offer in compromise. Additionally, you need to be in compliance with all required federal returns, unless there are limited exceptions. You must also have made all required estimated tax payments. This is crucial as many offers in compromise are rejected due to individuals not being current with their tax liabilities. Estimated tax payments apply to self-employed individuals who need to make quarterly payments. For businesses, it includes making sure deposits and withholdings are up to date. If you are self-employed with employees, you must ensure that all required federal tax deposits have been submitted. This is an essential step before considering settling back taxes. Moving to the next page, basic information such as your zip code, household size, and age will be requested. You will also need to provide your total IRS tax debt amount and the most recent tax year you are requesting to compromise. You will then be asked about your total bank balances and any other assets you own. In this case, the individual only has a vehicle, but it is not worth more than what they owe on it. Next, it will ask for your income details, including gross wages, interest or dividends, distributions,...