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Level 1
Oct 7, 2019 6:38 PM UTC
Question

Filing compromise

I am about to finish up filing my taxes when I was asked if I would like to file for an extension. Which I need. But I need to see if I also qualify for a compromise. Should I file a compromise first or continue with filing for an extension and also send a letter in the mail to also ask for a compromise?

2 replies

Critter
Level 15
Oct 7, 2019 6:44 PM UTC

Ok ...it is too late to file for any extensions to file the return ... if you owe you need to file ASAP even if you will not pay now.   Once you have filed you can apply for a payment plan ... do NOT do so inside the program as the IRS  fees are higher. 

Oct 7, 2019 7:36 PM UTC

to do an OIC , you must first file the return

see this link

https://www.irs.gov/payments/offer-in-compromise