- 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.
Overview Video of Payment Issues
Overview of OIC Payment Issues
Lump-Sum Payment Offer Payment
Periodic Payment Offer Payment
Designation of Payments in Event of Rejection
IRS Retains All Payments