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?
Because payment of the fee(s) reduces the acceptable Offer In Compromise amount, most taxpayers will not experience any additional financial hardship as a result of the fee. However, for some taxpayers the $150 fee may exceed their ability to pay. In most cases, the IRS exempts taxpayers whose income is at or below the poverty level from paying this fee.
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?
- How is the application fee, or the 20% lump sum deposit amount or the periodic payment amount, collected?
