MICHAEL MOGAN IS DEDICATED TO HELPING CLIENTS SOLVE THEIR LEGAL
AND TAX PROBLEMS - SERVING ILLINOIS AND CALIFORNIA
Stop The IRS Harassment Today - Call Now
(949) 424-5237
Income Tax Planning and Preparation
Services Available
If you haven’t filed your taxes for years and you don’t have the records or
bookkeeping necessary to file those tax returns, I have the knowledge and expertise to recreate multiple years of tax returns for you. Contact MeToday for Your Free Tax Relief Consultation
24/7 Hotline
Offer In Compromise
Finding a Basis for a Valid Offer in Compromise
An offer in compromise is simply an agreement formed between a taxpayer and the
IRS that will settle any taxes that are owed for less than the full amount of the tax liability. There are three valid bases under which you may pursue an offer in compromise:
- Doubt as to collecting full payment: This occurs when there is doubt that a taxpayer will be able to pay the full amount of tax, penalties and interest that is owed. An OIC will not be accepted under this basis if the IRS believes that the taxpayer can pay off the full amount, either in a lump sum or as part of an installment agreement. In addition, the IRS will usually only accept an OIC on this basis if the amount offered by the taxpayer is greater than or equal to the reasonable collection potential (RCP). The RCP is determined by the taxpayer's ability to pay, as well as the value of any assets and potential future income, minus certain living expenses.
- Doubt as to liability: The IRS is not always right. If there is doubt concerning the assessed tax liability, an OIC may be in order. This typically occurs when penalties are assessed, even though the taxpayer meets the criteria for non-assertion of penalties. It may also occur if an examiner fails to consider taxpayer evidence during an IRS audit or if the taxpayer has no evidence to offer to bolster his or her position on a tax return.
- Effective tax administration: This basis for an OIC may still be available even though the amount assessed is correct and the IRS believes that the taxpayer has the ability to pay the full amount owed. This option can be pursued if the taxpayer can show that collection of the amount owed would constitute a financial hardship, violate public policy, or create an inequitable or unfair result.
Dedicated Representation in OIC Negotiations
When an OIC is initially filed, the IRS is not bound by the offer amount or the
terms proposed by the taxpayer. A final agreement only comes about through often extensive negotiations between the IRS and the taxpayer or his or her representative. We have extensive experience
negotiating with the IRS and will work hard to protect your valuable interests in OIC negotiations.
DIVORCE AND FAMILY
LAW
Michael Mogan is a licensed attorney in Illinois and California you can count on
during one of the toughest challenges of your life. Michael also has a Master’s Of Laws Degree in Taxation and Employee Benefits. He is dedicated to helping you with any divorce issue, including
property division, alimony, child support and child custody. His mission is to give you the legal support you and your children deserve both in and out of the courtroom.
He is dedicated to helping you with any divorce issue, including property
division, alimony, child support and child custody. His mission is to give you the legal support you and your children deserve both in and out of the courtroom. Divorce takes an emotional toll on
everyone and the decisions you make during this time will have an enormous impact on you financially for many years. Your level of involvement in the lives of children can also be affected. I will
work diligently to fight for your rights and the rights of your children in family court.
Our legal team at is at your service. We offer reliable advice and representation in legal matters concerning a variety of disciplines. Learn more about our legal practice and its practice areas.
Our attorneys offer legal assistance with a high degree of specialized knowledge. Browse through our website to learn more about our legal practice and the practice areas of law in which we specialize. Call today (773) 799-8477
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