What if my Offer In Compromise is not accepted, will the application fee, the 20% lump sum deposit and/or the periodic payment amount, be refunded to me?
No. The IRS will retain the fee, the 20% deposit and the periodic payment amount, when: The taxpayer’s initial Offer In Compromise amount is too low – based on the IRS evaluation of the taxpayer’s financial condition – and the taxpayer is given the opportunity to increase it. If the taxpayer does not increase the Offer In Compromise amount, or show special circumstances, the IRS will reject the Offer In Compromise. The taxpayer fails to submit additional financial documents to assist in the IRS review. If the taxpayer fails to respond, and/or submit the requested information, the Offer In Compromise will be returned without further consideration. The taxpayer chooses to withdraw the Offer in Compromise.
Related Questions
- What happens if I do not submit the Offer In Compromise application fee, or the 20% lump sum deposit amount or the periodic payment amount, with the Offer In Compromise?
- What if my Offer In Compromise is not accepted, will the application fee, the 20% lump sum deposit and/or the periodic payment amount, be refunded to me?
- What happens to the Offer In Compromise and the application fee and 20% deposit or periodic payments, after I send it to the IRS?
