- Instructor: Attorney Bob Schaller
- Lectures: 11
- Quizzes: 1
Payment Issues with an Offer in Compromise.
The Offer in Compromise application must be accompanied by two separate payments: a $205 application fee, and a down-payment of either a Lump-Sum Payment Offer payment or a Periodic Payment Offer payment. As discussed below, two exceptions are made for the payment rule: (a) offers based on “doubt as to liability”; and (b) offers made by low-income taxpayers meeting the Low-Income Certification guidelines.
The discussion below relates to Offer in Compromise applications based on “doubt as collectibility” unless noted otherwise.
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Overview Video of Payment Issues
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Overview of OIC Payment Issues
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Application Fee
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Lump-Sum Payment Offer Payment
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Periodic Payment Offer Payment
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Payment Method
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Designation of Payments in Event of Rejection
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Deposit
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Low-Income Certification
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IRS Retains All Payments
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Miscellaneous Issues
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Quiz
Reviews
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Tax Law
The Offer in Compromise application must be accompanied by two separate payments: an application fee, and a down-payment of either a Lump-Sum Payment Offer payment or a Periodic Payment Offer payment.
