O I C

[barosser]

Anyone having any luck getting OIC accepted? Have a client looking at 940/941 offer.

Thanks for any comment on this.

[RoyDaleOne]

If you can get the IRS to accept payment of the trust fund portion of the payroll tax and your is not s SP or General Partner them the 100% responsible person penalty can be avoided.

[barosser]

Sole Prop owes about 140K in Payroll Taxes 14000 in Interest and 34000 in Penalties.

Either Bankruptcy to get into a workable plan or OIC and try and get the amount lowered

Not sure if the OIC would be accepted for about Half the amount due, not sure if I want to help.

[chadlonetree]

Sole Prop owes about 140K in Payroll Taxes 14000 in Interest and 34000 in Penalties.

Either Bankruptcy to get into a workable plan or OIC and try and get the amount lowered

Not sure if the OIC would be accepted for about Half the amount due, not sure if I want to help.

Do a few OIC's a year. Mostly 1040 income and SE tax liabilities. From my experience, best case is to make a strong case for doubt of collectability. If they don't think they will get any money they will settle for payment plans of small percentages of the original amount. I am always able to get penalties and interest waived as well as the payment plan being interest free.

[Jack from Ohio]

Sole Prop owes about 140K in Payroll Taxes 14000 in Interest and 34000 in Penalties...

Do a few OIC's a year. Mostly 1040 income and SE tax liabilities. From my experience, best case is to make a strong case for doubt of collectability. If they don't think they will get any money they will settle for payment plans of small percentages of the original amount. I am always able to get penalties and interest waived as well as the payment plan being interest free.

So now the rest of us honest people that pay our taxes, have to pay for that employer that "stole" the withholdings of his employees?? Pardon me if I don't have a lot of sympathy...

I would not even consider helping. Call me cold if you will...

[jainen]

>>that employer that "stole" the withholdings of his employees<<

Rhetoric aside, this would be one of the most difficult things to address in an O.I.C. There is an assumption that the business COULD afford to pay it because under the law it is holding the funds in trust. The IRS knows that even in bankruptcy they have a priority claim that may not be dischargeable.

This client needs experienced representation. "Any luck getting OIC accepted?" just doesn't cut it.

[lbbwest]

Another county heard from...

Those commercials that are rampant this time of year....is the big, bad IRS bothering you poor innocent taxpayers? Call 1-800-WeRSCUM and we will help you.

They neglect to mention in cases of trust fund fraud the innocent taxpayer told the truly innocent employee I am taking this badly needed money out of your paycheck and sending it to the government...(JUST KIDDING.) The government has no choice but to honor the truly innocent taxpayer's W2 and us stupid law abiding taxpayers get to pay the freight...AGAIN.

How much intelligence does it take for an employer to realize that the money he takes away from the employees NEVER BELONGED TO HIM?

The reason the 100% penalty was created was because the owner was misdirecting the employee/government funds to his own use. Unfortunately too many times to the local bar/casino. It created the phrase "TOO STUPID TO BE IN BUSINESS."

To quote Ron White "You Can't Fix STUPID."

Good luck with your client, be sure to get a retainer up front, and don't do any work until the check clears. If he is willing to defraud the government and his employees it won't hurt his moral compass to defraud you.