The very first step in settling your IRS tax debt is getting your IRS Snapshot. The IRS compliance check. is a complete snapshot of your entire record and history with the IRS all summed up into one informational packet.

TLDR;

• The IRS Snapshot is the first step on all IRS Tax debt cases.

• Gathers a Breakdown of the year-by-year balances owed to the IRS

• Missing Tax Filings & filing requirement report

• Exposes the IRS Write off Date of the balances, known as the Collection Statute Date

• IRS Transcripts verifying account history, payments & reported 3rd party income sources

The IRS Snapshot is the complete report detailing your IRS Account history. This is also known as an IRS Compliance Check.

The first thing on all IRS Tax Debt cases is to get the IRS Snapshot. The IRS Snapshot is a breakdown, year by year, of the balances that you owe to the IRS, getting the exact date when the IRS will write off the balance down to zero. In Addition, gathering the appropriate transcripts for the account to review historical transactions & 3rd party income reporting.

IRS Tax Filing Compliance Reporting

The snapshot would also show what years you have missed with the IRS & are not filed. IRS Tax filing compliance is required in order to qualify for certain IRS Tax Relief Programs such as the IRS Offer IN Compromise program. If you are not in tax filing compliance, the IRS would not even consider looking at a submitted IRS OIC if you are not in tax filing compliance.

IRS Transcript Analysis

Certain red flags may pop up in your IRS Transcripts. The proof of some fraudulent activity may be in the IRS Wage and Income Transcripts. If there's income that's reported to you but you never worked for that employer. The Wages & Income Transcript has reported income from 3rd party payors & other informational sources such as mortgage interest paid & certain retirement account contributions & Fair Market Value.

The following are the common types of source reporting documents:

• W2s (Wages from Employers)

• 1099 NEC ( Non Employee Compenstation

• 1099 MISC (Other Income)

• 1099C (Cancelled Debt Income)

• 1099B Brokerage Transactions

• 1098 Mortage Interest Payments

• 5498 Account Contributions

• Sch K1 from S Corp, LLCs & Trusts

IRS Snapshot FAQs

The IRS Snapshot is the very first step in fixing your Tax Problems.

This is the very first step so that your IRS historical records can detail the root cause of problems, and get detailed information to determine which IRS Tax Relief Program would be the best available for your situtuation.