Saturday, July 21, 2018

Offer in compromise

My taxes due some to 120k, if everything is added up.  But I never showed more than 70k in income for the last 15 years, including the original tax hit on stock that was never sold for gain.  I never showed enough income for the original claim to be taxed, and kept my official income under the radar for 16 years.

Basically it was one year of badly written tax law before the dot com crash, and the government  is stuck.  Hence OIC for the state and another for the feds.

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