Friday, February 21, 2014

offer in compromise form 656 the new dissipated assets rule

As published in the Internal Revenue Manual 909-30-2013) the incllusion of dissipated assets in the calculation of reasonable collection potential is no longer applicable, except in situations where it can be shown the taxpayer has sold transferred, encumbers or otherwise disposed of assets in an attempt to avoid the payment of the tax liability. (212) 588-1113

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