IRS Offer in Compromise. How the RCP Formula Works. Orange County, CA
By Anthony Fontana, Tax
(EA Tax Resolutions)
The IRS Offer in Compromise is the name of a tax settlement. These sound like a gimmick when you hear them on the radio/tv, but they actually work. You have to qualify, and know what you are doing when you file the offer. With experience in having many of these offers accepted by the IRS for our clients at EA Tax Resolutions in Orange County, CA we know how to file the Offer in Compromise.In this blog I am going to explain how to determine your “offer” or “reasonable collection potential” (RCP).The IRS reasonable collection potential (RCP) or offer is based off your net equity assets and future income. The IRS will accept an offer so long that it meets or exceeds their financial guidelines to calculate the net equity assets and future income. Getting this calculation is the reason why s...
Comments
1