Offer in compromise
What happens if you have signed an offer in compromise and you miss a payment what will the IRS do ?
Asked on 1/15/03, 11:41 am
2 Answers from Attorneys
Joel Selik
www.SelikLaw.com
Re: Offer in compromise
The rules of the Offer of Compromise require all payments to be made on time. If you need to miss a payment, telephone them and discuss it with them as soon aqs possible.
Joel Selik
www.taxworkout.com
800-894-2889
Answered on 1/15/03, 11:52 am
Ronald Cappuccio
Ronald J. Cappuccio, J.D., LL.M.(Tax)
Re: Offer in compromise
The Offer In Compromise requires full tax compliance for 5 years. That means you must timely file and pay all balances in full with the filing. The late or missing payment could result in the IRS reinstating the original balance due. You should immediately call your tax attorney to negotiate this with the IRS.
Answered on 1/15/03, 9:58 pm
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