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Old 01-30-2018, 05:25 PM
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Join Date: Jan 2018
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Offer in compromise deeper question

Hello all!

I am looking into an offer in compromise (OIC) and have some questions. I have not filed from 2012-2016. I spoke to an agent in collections w IRIS for quite some time the other day and she gave me the following info...They filed for me in 2012 (my biggest year in earnings obviously lol) and I owe slightly over 10k in that year. The other years; 2013 & 2014 around 3k, small refund in 2015, and just over 10k in 2016. In all about 26k owed in back taxes. I will likely owe 10k ish in 2017 as well due to 401k wd's. Owing 2016 & 2017 is due to large 401k withdrawals (ROUGH time in life personally and professionally). So in the end around 36k total? after filing for 2017 which I have yet to do. I asked her about an OIC and she said she didnt think I would get it but we never talked about my income vs debts, she was (i assume) just going off the fact that I am going back to the industry where I made good $ years ago and she could see my income from those years. She said just do the regular payments for 5ish years of $400+ per month. In regards to OIC: I have NO more assets such as 401k or anything else. A paid off car worth around $1500-2000, bank account $2000, rent $2,000, income from a job I am going to start in about a week, $4,000-$4,500 month. According to the IRS OIC prequalifier (for living in san diego) on their website, I am eligible for what seems to be their lowest dollar settlement of $2,000, up to around $5,000 depending what numbers I put in (adjusted income up as I may make slightly more, and adjusted rent down as I may move into cheaper place soon). My questions(s)>>>>
1)There is a chance I make decently more income in the next 3-6-12 months due to possible commissions/different role at my new job. The IRIS agent said they only check income in the very beginning (first couple of paystubs she said). Is this accurate? I don't want to get deep into this and then they ask for a paystub in 3-6-9 months upon finalization of OIC and I am making too much to qualify.
2) If i move (change address) after an accepted OIC, will that affect my accepted OIC (rent would likely be less)?

Thank you ahead of time!



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