Discussion:IRS Offer-In-Compromise Prep Software
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Discussion Forum Index --> Basic Tax Questions --> IRS Offer-In-Compromise Prep Software
Discussion Forum Index --> Tax Questions --> IRS Offer-In-Compromise Prep Software
| 7 July 2008 | |
| I am looking into preparing an IRS Offer-In-Compromise for a client. Can anyone recommend a good "professional" software package helpful in navigating this sometimes complex & confusing subject? Thanks in advance! | |
| 7 July 2008 | |
| Most of these are proprietary, so you're going to need a pirated copy. Do you know anyone in S. Korea? Probably not, or you wouldn't be here. OK. Call the international operatator, ask for S. Korea 411, request the number of a Mr. Park or a Mr. Lee. Any one of them will do. Once you get him on the line, see what's he's got in stock. By the way, if your kids have been hankering to see some movie, save yourself a nickle and order them from the same guy, even if it's not out yet.
There's an American roll-out coming in Sept. "OHISEE" by Deutch Systems. They are low-balling it, really cheap, but you have to use their paper. I have found the beta irriating as some lawyer chick anime keeps popping up a smirking at me. Be prepared to put 20% down. | |
Death&Taxes (talk|edits) said: | 7 July 2008 |
| Wait for JK Harris' liquidation sale.
Seriously, the forms are on Tax Tools, but I doubt this is what you are looking for. Yet, in an unpaid testimonial, the $199 I spend each year for this software is worth it. | |
| 7 July 2008 | |
| Let's see. In your profile, you state the following, "I specialize in helping clients file or fix/correct past years tax returns, Offers-in-Compromise..." You also state that you are not an EA or CPA. Yet, despite that fact that you "specialize" in helping clients with Offers, you obviously have no knowledge of Offers & you have no license to represent taxpayers and you want our assistance?????
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Taxcurmudgeon (talk|edits) said: | 7 July 2008 |
| This person isn't one who is allowed to practice before the IRS. So the IRS won't honor a 2848. Well, at least they are one of the few who even bothers to create a profile. | |
| 7 July 2008 | |
| He doesn't have to submit a 2848 to "sell" an Offer to a delinquent taxpayer. | |
| 7 July 2008 | |
| That's true, but I've never submitted an Offer and received a rejection or acceptance without some consultation with an Offer Examiner first. | |
| 7 July 2008 | |
| Many firms don't ever talk to the IRS and have no intention of ever doing so. | |
| 8 July 2008 | |
| Offers in compromise are so incredibly document driven and specific to the client, that I doubt anyone could write a software program to cover everything. If there was money to be made in it, CCH or Thomson would have gone after the market. | |
| 10 July 2008 | |
| I agree with Marcilio. Too bad the scrutiny came down on our questioner, but hey, it may force them beef up their credentials (in order to be taken seriously). Anyway, OIC's are so much more than filing out the forms - it involves knowing the client on an intimate basis, it involves knowledge of how they are processed, who processes them, tracking, patience, knowing the % of OIC's that are actually granted (YOU JUST CAN'T PLEAD POOR ALL THE TIME), not to mention not letting your client make a fool of themselves (or you) when filing out the CIS. I also agree that contact with the OIC Officer assigned to your case is a must. Never sell the client something you can't guarantee - and I believe no one can do that when it comes to an OIC. Note: In some ways you can look at an OIC as a "complex" installment agreement with very harsh consequences for defaulting. | |
| 10 July 2008 | |
| I do not think Offers are brain surgery and finding software to fill in the blanks on a 433-A/B and a 656 is easy. We have developed in-house stuff to streamline it a lot. But it is like regular tax prep software, if you do not know what goes in the blanks, software is of little help. Just like a CAD package does not make you an engineer, having a software package does not make you an expert on Offers. 85% of the Offer process is straight-forward. The other 15% is part tactical decision-making and part Kabuki Theatre. It takes more than software or doing a couple a year to figure out the 15%. | |
| 16 July 2008 | |
| It's that 15% that will kill an Offer! I alluded to having some intimacy of the client's financial position, and I know that it's not rocket science to jot down the value of a Cert. of Deposit, but when the object of the game is two-fold: 1) spare your client as much of a financial noose as possible (in this case, get the Offer accepted), and 2) provide realistic numbers (in this case, does the OIC Officer believe your valuations), then even that which we think of as "straight-forward" can be risky in the wrong hands. I wonder if the questioner is familiar with the index the IRS uses to evaluate some of the information on the CIS? | |
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