The IRS OIC (offer in compromise) tool asks for household income from everyone who contributes -- does this include tax exempt income such as SSI (supplemental security income) or income made under Notice 2014-7 (for example, an IHSS worker living with their eligible person)?
This isn't made clear on the IRS' website and seems like a very important factor.
You'll need to sign in or create an account to connect with an expert.
The question in OIC is, What money is available to pay the past due tax? That the money is tax exempt is irrelevant.
Thanks for the reply! Although it seems weird for tax exempt status to not matter when considering... paying taxes. But I understand. Further, it seems weird to count the entire household as "available funds" to pay via OIC when I do not have access to my entire household's funds. Spouse I can understand, but the two unrelated adults I live with? It's not like I can just tell them "hey you guys have to pay my portion of the rent now until this is paid off, we good?" That's... not how people live.
Unless I'm misunderstanding what they mean by household, but it seems pretty cut and dry. Also weird that they "calculate" food and such for me, especially when we have an abnormally high electric bill that drastically shifts our money situation, argh.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
osbuntax611
Level 1
forologia45
Level 1
MattC747
Level 1
mattm1107
Level 2
garciaestrella1997
New Member