OIC with FTA

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  • #23561
    Michael O’Leary
    Participant

    If you request a first time abatement in a year that an OIC is either applied for or approved, does the abatement reduce the total amount due but not the “Offer” amount?

    Is it best to wait until the year after an OIC is approved to request abatement?

    #23721
    Eric Green
    Keymaster

    Mike,

    I am not sure it makes sense:
    1. If you do an Offer you are almost better off with a higher balance (less likely the taxpayer can pay in full), and
    2. After an Offer the taxpayer had better not get penalized for the next 5 years or they void the offer.

    Usually if we do an OIC we are not concerned about getting penalties abated.

    Eric

    #23795
    Michael O’Leary
    Participant

    Thanks. I didn’t do the OIC. The taxpayer is now coming to me to complain about the short term deferred payments. There is a year that is eligible for FTA. I was wondering if an OIC closes the door to FTA’s.

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