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“Why does my client’s $20,000 on his 433 not equal $20,000 in assets?” Well, I went forward and tried to explain to him how this works.
If your client owes tax debt, an offer in compromise is a way to settle for less than the amount owed—as long as your client meets certain requirements.
Qualification for IRS payment plans like installment agreements are based on you client’s income and expenses.
Remind your clients they can request to make monthly payments through an IRS installment agreement.
When your client owes the IRS and they are not able to pay them immediately, did you know that your client may be able to set up an installment agreement?