Episode 178: OIC Updates and Other Tax Topics

This episode has a whole variety of topics:

• The offer in compromise forms are now updated – what about the grace period to transition to sending the new forms to the IRS? How many years of tax returns need to be submitted for the taxpayer to be compliant?
• The local standards for 2022 have been released. These are to be used for offers in compromise and to submit for a client to be in currently not collectible status.  What else?  See below.
• Talking about low-income taxpayers dealing with stock reporting and tax audits.
• How to mark a duplicate tax return sent to the IRS?
• Talking about expenses and income reporting on an innocent spouse request submission.
• A reminder that the Low Income Taxpayer Clinic grant application or Non-Competing Continuation deadlines are coming up!
• Last, this will be Andrew Belter’s final episode as he makes a career change!

Tune in to find out what William Schmidt and Andrew Belter have to say about those topics.