A taxpayer knows that they owe 5-years back taxes stemming in part from an audit of three of the 5 years. The balance owing is high and every subsequent year’s tax refund is hold due to the balances owing. The taxpayers are in financial hardship and have not received correspondence indicating final assessments or collection letters of any type. Do they need to wait for some type of notification prior to proceeding with the submission of an offer in compromise or can they proceed now?

If the original tax amounts as well as the FINAL tax audit assessments have posted the taxpayer can proceed with the submission of an offer in compromise. This information can be discovered by obtaining the taxpayer’s most current tax account transcripts. The taxpayer does not need to wait for additional correspondences such as collection letters.

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