USA Payroll Tax Offer in Compromise Adjustment

Joined
Feb 9, 2016
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We were approved for an offer in compromise on old payroll taxes from previous ownership of the business I work for. On the books our payroll taxes show we owe around $60,000 but the offer in compromise takes it down to $25,000. What entry do I need to do to wipe off or remove the other $35,000 that is showing? I am using QuickBooks Online.
 
Joined
Feb 17, 2016
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Sounds like you need to do a general journal entry with the advice of your accountant. I'm not an accountant. I use Quickbooks on a regular basis
 

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