Van Dyke Brown

NeuroSpicy🌶️|Xennial |Psychotherapist| Deviant

[Van Dyke Brown @KismetEntity]

I fucks with Big Gretch

[Governor Gretchen Whitmer @GovWhitmer]

Happy Pink Friday 💕

[Iffy The Dopester @IffyTheDopester]

Old time Detroit stores we remember.

[Van Dyke Brown @KismetEntity]

@bigfeelspisces Beautiful

[Van Dyke Brown @KismetEntity]

@SomaKazima2 Disgusting

[broken whore from Hampton University @minajsleez]

I'm sorry, Robyn & Juan CLEARRR #RHOP #RHOSLC #RHOBH

[Sesame Street @sesamestreet]

In honor of Indigenous Peoples' Day, the word of the day is “tradition.” Together with our friend Zahn McClarnon we honor Indigenous people around the world and the many ways they share their culture and traditions every day. #IndigenousPeoplesDay

[Rayceen Pendarvis, HRH 👑 @RayceenHRH]

Happy Indigenous People's Day!!

[Van Dyke Brown @KismetEntity]

@duffthebrand Happy Birthday

[Van Dyke Brown @KismetEntity]

@Mrtailormade Happy birthday

[Van Dyke Brown @KismetEntity]

@zellieimani We are

[Charles M. Blow @CharlesMBlow]

In my latest piece for The Guardian US I explore Dr. Abdul El-Sayed softer-than-expected support among Black voters and his attempt to get more of them onboard: “El-Sayed is attempting to do so in a novel, and risky, way: employing political universalism to focus on a common set of issues that he believes will be broadly resonant rather than focusing on the specific, sectarian and uniquely differentiated interests of the disparate groups huddled under the Democrats’ big tent.” https://t.co/ZtDND5GVnF

[Shy Matthews @getintothis247]

Idc! Idc! I have missed Robyn Dixon on my screen! The OGs are all back Karen,Giselle & Robyn #RHOP

[Van Dyke Brown @KismetEntity]

@UpdatedUpdates2 Happy Birthday

[Van Dyke Brown @KismetEntity]

@big_CTB803 Happy birthday 🎉

[Van Dyke Brown @KismetEntity]

@Stalweezus Owww!!

[hunter @hxxntrr]

You owe the IRS $100,000

They'll take $5,000 and close your file. Permanently. Balance goes to $0

It's called an Offer in Compromise. Form 656. The IRS approved 42% of them last year. Application fee: $205

Here's the exact formula they use to decide your number and how to reverse-engineer the lowest possible offer

The IRS doesn't want to chase you for 10 years. Liens require court filings. Levies require processing. Garnishments require administration. They'd rather take your $5,000 check today than spend a decade trying to squeeze $100,000 out of someone who will never have it

They literally built a math formula to calculate the minimum they'll accept. Here it is:

RCP = (monthly disposable income x remaining collection months) + (net realizable equity in assets)

Monthly disposable income: your gross monthly income minus IRS-allowed living expenses. They don't use YOUR actual expenses. They use standardized tables published on the IRS website. These tables set exact allowances by county for housing, food, transportation, healthcare, and out-of-pocket expenses

If you earn $4,200/month and the IRS allowable expense table for your county totals $3,900, your disposable income is $300/month. If you earn $3,800/month and the table allows $3,900, your disposable income is negative and the IRS considers it $0

Remaining collection months: for a lump sum offer (paid in 5 months or less), multiply disposable income by 12. For a periodic payment offer (paid over 6-24 months), multiply by 24. A lump sum offer will always be cheaper than a payment plan offer. Always choose lump sum if you can

Net realizable equity in assets: bank accounts, investments, vehicles, real property. BUT they subtract allowances. Household furnishings: exempt. Retirement accounts: heavily discounted, because the IRS applies a "quick sale value" and knows cashing them out triggers penalties and taxes

Real calculation:

Income: $4,200/month
IRS allowed expenses: $3,900/month
Disposable income: $300/month

Lump sum multiplier: 12 months
$300 x 12 = $3,600

Assets:
Bank account: $2,100
Car equity: $4,800 (below the IRS allowance, counts as $0)
Household goods: exempt

RCP: $3,600 + $2,100 = $5,700

Your offer: $5,700 on $100,000 in tax debt. 5.7 cents on the dollar

The nuclear part:

While the offer is being reviewed (6-24 months), collection activity legally stops. No levies. No wage garnishment. This is in IRC Section 6331(k)(1)

And if the IRS fails to make a determination within 24 months of receiving your application, your offer is AUTOMATICALLY ACCEPTED. Two years of silence = you win by default. IRC Section 7122(f)

The forms you need:

Form 433-A (OIC): complete financial disclosure. Every bank account, every asset, every income source, every expense. Fill it out accurately because they cross-reference it against bank and DMV records. Lying on this form is a federal crime

Form 656: the actual offer. Your amount, your payment terms, your signature

$205 application fee (waived if your income is low enough. the form has the table)

Initial payment with the application: 20% of your offer for lump sum. On a $5,700 offer that's $1,140

One client owed $213,000 across 4 tax years. Hadn't filed two of them. Getting intent to levy notices every month. We filed the missing returns first (required before you can submit), then calculated her number at $8,400

IRS accepted 9 months later. $213,000 settled for $8,400. 3.9 cents on the dollar

Then we fixed her credit. Then we stacked $120K in 0% business funding. She opened a cleaning company 4 months later. The same IRS that was garnishing her wages now cashes her quarterly tax payments from a profitable business

the math is public. the formula is published. the form costs $205. the difference between paying $100K and paying $5K is knowing it exists lol

[Van Dyke Brown @KismetEntity]

@more2life_363 Happy birthday

[Van Dyke Brown @KismetEntity]

@SlimPapas Happy birthday

[Van Dyke Brown @KismetEntity]

@yalldkjay Happy birthday

[Van Dyke Brown @KismetEntity]

@Mrtailormade Rest please 🙏🏾

[Van Dyke Brown @KismetEntity]

Amerie coded. I love it!
https://t.co/F1ECQBDpPk