Can I send one check to cover the application fee, 20% lump-sum deposit, periodic payment amount, and the Offer In Compromise amount?
No. Taxpayers must initially pay the application fee and also include, in a separate check, the 20% lump-sum deposit or periodic payment amount with the offer. After the IRS accepts the Offer In Compromise, the IRS will notify the taxpayer to promptly pay any unpaid amounts that become due under the terms of the Offer In Compromise agreement.
Related Questions
- Will the application fee, or the 20% lump sum deposit or the periodic payment amount create an additional financial hardship on taxpayers who are already having payment problems?
- What happens if I submit an application fee, or lump-sum deposit payment or periodic payment, and find that I have insufficient funds in my account to cover the check?
- Can I send one check to cover the application fee, 20% lump-sum deposit, periodic payment amount, and the Offer In Compromise amount?
