Tax Brake with Robert G. Nath, Esq.

As to offers, it used to be that the price for making an offer was an extension of the period of limitations on collection for the pendency of the offer, plus one year. No more. Under a law enacted in December , 2000, the statute will continue to run even though an offer has been filed and even though the IRS ma not by law collect while the offer is pending.

As to installment agreements, the news is less sanguine. The IRS will not grant an installment agreement unless the ENTIRE tax liability will be paid within the installment periods. Otherwise, the IRS says, it's like a drawn-out offer. That is bad news for people who can't come up with enough for an offer, but also can't afford to pay what the IRS says is necessary for an installment agreement.

Possibly, you can fall back on the “effective tax administration” type of offer, essentially for those who would be deprived of means to live if the offer were paid, but that type of offer is rarely granted. Still, it's worth a try if you qualify.

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