Tax Law (Questions About Taxes)/IRS & CA-FTB

Advertisement


Question
Hi Bill,
I owe the irs & the California state some back taxes
& I'm on social security w/limited income, what are
my chances of an offer-in-comprormise with both of them.
I'm afraid to tackle them on my on & can't afford to
hire some professional help.
What do you suggest ?

Answer
John:

Assuming you qualify for an Offer In Compromise settlement due to your limited income, and no equity in asset value, your recommended source of assistance with this would be the IRS Low Income Tax Clinics, and for FTB the Taxpayer Rights Advocate.  We routinely refer persons like yourself who can not, no way, afford professional tax assistance to these sources.  

You may find their contact information on the respective tax agency websites...irs.gov, and ftb.ca.gov.  

Good luck!

Tax Law (Questions About Taxes)

All Answers


Answers by Expert:


Ask Experts

Volunteer


WILLIAM D MCCONNAUGHY, CPA

Expertise

Federal income tax questions.

Experience

Former IRS Revenue Agent. Former Enrolled Agent. Self-employed Certified Public Accountant since 1990.

Organizations
American Institute of Certified Public Accountants Better Business Bureau

Education/Credentials
Bachelor's Degree Accounting Major San Francisco State University Master's Degree Taxation Golden Gate University

Past/Present Clients
Too many to list.

©2016 About.com. All rights reserved.