Executive Solution Overview
[>Accounting homework help](https://www.sweetstudy.com/fields/business-finance-accounting) **Facts narrative** Michael and Teresa Campobasso are married. Michael works in hospitality management with seasonally variable overtime; Teresa works in retail. Their prior IRS Form 1040 non-filing arose afte…
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[>Accounting homework help](https://www.sweetstudy.com/fields/business-finance-accounting)
**Facts narrative**
Michael and Teresa Campobasso are married. Michael works in hospitality management with seasonally variable overtime; Teresa works in retail. Their prior IRS Form 1040 non-filing arose after several years of erratic withholding, family emergencies, and reliance on extensions that were never completed. They have now filed the five delinquent returns through your CPA firm Ugatu B. Kiddenme & Sons, CPAs and face a combined assessed balance of approximately **$60,000**.
The couple rents an apartment in Lehigh Acres, has one financed vehicle and one older paid-off F-150, and keeps only a small emergency reserve of under $1,000.
You have been tasked with filing an offer in compromise (Form 656) with a request to abate taxes and penalties due based on doubt as to collectability.
– [\
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OICmaterials.docx](https://www.sweetstudy.com/files/oicmaterials-docx "OICmaterials.docx")
– [\
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f656b.pdf](https://www.sweetstudy.com/files/f656b-pdf "f656b.pdf")
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