On the surface, the notice of plugging in a few numbers into an OIC calculator sounds like an ideal solution. If only life were that simple. Reaching an OIC is a nuanced activity, as this article well points out. Kudos to Attorney Wynn for an engaging, informatative and easy to understand article on the dangers of OIC calculators and why both taxpayers and tax advisors would be well served steering clear of them. To have an OIC accepted by the IRS takes more than just numbers, it takes understanding of the debtor’s total financial picture, creativity and — yes, likeability, the way you (and your attorney or tax professional) come across to the IRS. Those variables are simply not something you can plug into a calculator and have it spit out an answer. For this reason, and armed with the information so aptly provided by Atttorney Wynn, I will counsel clients to avoid using them in their OIC preparations. MariAn Gail Brown, Esq.
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