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Jacksonville Florida Form 433-B (OIC): What You Should Know
Form 433-A/B and IRS instructions. We believe the IRS gives credit to tax clients who pay the full amount agreed upon, unless aĀ Taxpayer Agreement Exists No Taxpayer Agreement Exists In the past, IRS has required tax clients to use the same set of forms that they use for the federal income tax. This often leads to the tax clientĀ Telling the IRS something is inaccurate, so the IRS has no recourse when the documentation turns out to be incorrect. However, theĀ Filing of anĀ OIC is different. It is a formal notice to the IRS of an IRS proposed determination of liability for the federal tax debt owed. The OIC is a āfinalā determination of liability. TheĀ OIC may be filed online,Ā on paper by mail, or through the mail, if no electronic filing option is available; but only after oneĀ final review has occurred at theĀ OIC office location. How to Make a Request For a Final OICĀ The Form 433-A (āOffer In Compromiseā) provides the tax client with the option to make a written request for a final OIC. The OIC is a form that must be filed if the tax client believes the IRS has already made an adverse determination of the tax debt. OnceĀ the final determination is made, the IRS may not issue an OIC until a request for a final OIC is granted. How to Apply for an OIC Form 433-A, Taxpayer Agreement Existence Form As noted above, it is not necessary to actually apply for an OIC. It should be noted that you are notĀ required to use one, but you can. The only time an OIC is required is for a final determination (seeĀ Form 433-A and IRSĀ instructions for further details). How to File Form 433-A (OIC) If this is your first time applying for a final OIC, you need to first file aĀ one-time federal tax return to get an individual taxpayer identification number (āITINā) and then file FormĀ 433-A in the tax year following.
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