Tax Freedom ToolBox PreQualification Calculator
This calculator will give you a ball park estimation of your offer to the IRS

Instructions: Estimate, to the best of your ability the values for each of the fields below. If the value is zero or less than zero then you must enter a zero (0) in the field or leave it blank. When estimating your monthly expenses do not include payments you are making on unsecured loans or payments you are making on luxury items like jewelry, boats, or luxury cars. The IRS will not allow these deductions in an Offer. The IRS will not allow Credit Card payments to be deducted from your income.
Equity in Assets
(no negative values allowed)
Income and Expenses

Total Available Cash $
Includes:
Bank Accounts
Money Market Accounts
Cash not in banks
Average Monthly Income (all)   $
Average Monthly Expenses not including Credit Cards, revolving charge accounts, charitable contributions  $
Cash value of retirement and investments $
Total Monthly Cash Available  $
Cash Value of Life Insurance $
Income Portion of your Offer   $
Cash Value of your home if you sold today $
How much do you owe the IRS?   $
Quick Sale Value of all Personal Property $
Includes:
Your Cars
Other Vehicles
Jewelery
Everything in your home

Total Outstanding Loan Balance $
Includes:
Home Loan Balance
Car Loan Balance
All other secured loan balances
Does not include credit card debt

Total Equity Portion of your Offer   $
Results
(This is only an estimate and should not be used to fill our IRS Form 656)
Your Minimum Offer to the IRS may be:   $
Potential savings if your offer is accepted:   $

Now that you've made an estimate of the amount of your offer you should have a better idea of what to do next. If your Minimum Offer estimate is close to or less than the amount you owe then you may be a candidate for an IRS Offer In compromise. If the Minimum Offer is more than you owe you should seek professional advise.

The information provided by the calculator is not provided for the purposes of rendering a legal opinion; not intended as a substitute for professional advice; not intended for completion of IRS form 656; but is intended for general education purposes only.

The Law and the IRS Procedures and policies in this country are subject to change without notice. We are not responsible when a change to a statute is made and not published yet. By accessing the Tax Freedom Tool Box tutorials and calculator you understand and agree to the above.