i 140 rfe company closing

[waitin]

I have a very scary situation. My employer showing loss in all 3 years returns. Which I didnot know . He sent it to my attorney and attorney never told me and filed as it is. now I got i 140 RFE ability to pay. I had been working part time and my w2 are less than the LC . What should I show to save my situation . This is my 7 year. My h1 expiring in april 08. Please help me. What should I show?
Can I save my sitauation ?

[nrp_nrp]

Just check with your company if they file their tax returns on cash basis or accrual basis. At times many small companies which are an S corp file their returns on cash basis (pass through entities for taxation purposes) whereas if the numbers are reflected based on accrual basis than many a times the bottomline ends up positive....in such a scenario you may get prepared audited statements for years in question by the company's CPA and submit it with other supportings ...just check a positing I just put under RFE-Ability to pay thread..........if not than its a tough call....but there are many cases on Ability to pay I gather which are under appeals....again check and consult with your attorney B4 you take any steps....... GOODLUCK!!!!!

[waitin]

rfe 140

Thanks for your reply,

My lawyer and company are working together. they have given me some Profit and loss statements for the year 2004,5 and 6. and they are showing profit upto $110,000 and 2005 around $90,000 and 2006 around $100,000.My yrly salary is around $50,000.So that should be ok. It is not audited though. Should i get any letter from owner? Chceks for the last 3 months ,I am still getting part time pay? will that be ok?Please responf=d I have to send reply by 18th. they have given me the bank copies also wher they have shown cash flowfor 2004,2005 shall I submit all of it?
Thanks

[nrp_nrp]

rfe 140

SEND ALL THAT YOU CAN......you shall not get a second chance. The adjudicating officer may at his/her discretion either decide the case on what they have or may send second RFE....again it is up to the officer....so present ALL the evidence that you can..........check the posting I'd under "RFE - Ability to pay".........Good Luck!!!