tag:blogger.com,1999:blog-6398232680738279469.post3834742065845985128..comments2024-03-12T07:30:17.846-07:00Comments on The Tax Times: IRS Doubles Threshold for Automatic Installment Payment Plans!Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6398232680738279469.post-78368151926256517272012-02-15T08:30:10.539-08:002012-02-15T08:30:10.539-08:00IRS Rescinds, Reissues Guidance For Some Offer in ...IRS Rescinds, Reissues Guidance For Some Offer in Compromise Cases<br /><br />The Small Business/Self-Employed Division has tweaked interim guidance published earlier this year relative to the initial review of offer cases during an offer in compromise (OIC) investigation.<br /><br />A memorandum (SBSE-05-0212-020) issued Feb. 7 rescinds guidance dated Jan. 24, which granted a deviation to allow for initial screening of offer cases to determine a taxpayer's current compliance with return filing, current year estimated tax payments, and required payments.<br />The latest memorandum announced a deviation to allow for initial screening during offer cases and set forth the review procedures for offer examiners.<br /><br />The deviation screening is meant to determine the taxpayer's current compliance with return filing, current year estimated tax payments, and required payments.<br /><br />The guidance is related to offer cases worked in centralized offer in compromise sites.<br /><br />New Discretion for Managers<br /><br />The February memorandum provides operation managers of centralized offer in compromise sites the authority to chose whether the screening for compliance will be completed first or at the same time as completing initial analysis.<br /><br />The February memorandum details the steps offer examiners should take depending on whether the compliance screening is completed first or along with the initial analysis.<br /><br />As in the January guidance, the established 15-day time frame has been amended, however there is a slight change in language between the two memorandums.<br /><br />The February guidance provides 30 days to complete initial analysis, and is extended to 45 days when compliance issues must be addressed “upfront.”<br /><br />Appropriate extra time may be allowed for the taxpayer to become compliant, but initial analysis must still be completed within the 45-day time frame, SB/SE said.Ronald A. Marini, Esq.https://www.blogger.com/profile/14304486100168506240noreply@blogger.com