What happens if a taxpayer submits a portion of the 20 percent payment on a lump sum offer but not the entire 20 percent payment?
A14. A lump sum offer that is received with less than the required 20 percent payment will be deemed processable but the taxpayer will be asked to pay the remaining balance in order to avoid having the offer returned. Failure to submit the remaining balance will cause the IRS to return the offer and retain the $150 application fee.
Related Questions
- What happens if a taxpayer who has paid the initial payment on a periodic payment offer fails to submit subsequent payments while the offer is under investigation?
- What happens if the taxpayer, who is not filing a doubt as to liability offer only, does not submit the payment imposed by TIPRA and does not qualify as low-income?
- What happens if a taxpayer submits a portion of the 20 percent payment on a lump sum offer but not the entire 20 percent payment?
