One big tax mess - submitting an offer in compromise.

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Hoogerhyde Tax Payer Posts: 1 (1/13/04 9:29 pm)	One big tax mess - submitting an offer in compromise. My wife is disabled and mentally ill. In 2001 she withdrew most of her 401k money without my knowledge. I now owe about $7500 in back taxes. The IRS waved any interest penalty, that is what remains. I know not what she did with the money, and neither does she. I plan to submit a form 656, i.e., an offer in compromise. Basically this is just a cash offer asking them to settle the matter for less, due to the circumstances. My question is: Does anyone have any experience with anything like this? What would be a reasonable offer? $3000, $4000? Thanks for any help.
bmcper CEO/Auditor Posts: 267 (1/14/04 9:52 pm)	Re: One big tax mess - submitting an offer in compromise. There are many ways to deal with the IRS and each case is different. A lot will depend on who you deal with at the agency. Some are understanding and some are hard nosed. Make an offer that you can live with. If you can't make any headway with the IRS, you can try going through the Taxpayer Advocate's office.

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