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IRS Provides Relief to Taxpayers With Installment Agreements or Offer In Compromise (OIC)

IRS Provides Relief to Taxpayers With Installment Agreements or Offer In Compromise (OIC)
Ines Zemelman, EA
28 March 2020

IRS Introduces additional measures to provide relief for taxpayers during the COVID-19 pandemic. Many are logistical items within the IRS itself, but the below are key items that concern taxpayers, specifically those with installment agreements and offer in compromise (pending or accepted).

  Key Items  
  1. Payments due between Apr 1 and Jul 15 under existing installment agreements are suspended. Interest will continue to accrue
  2. Taxpayers are given until Jul 15 to provide requested additional information to support pending Offer in Compromise (OIC)
  3. Payments due between Apr 1 and Jul 15 under existing Offer in Compromise (OIC) agreements are suspended. Interest will continue to accrue
  4. IRS will suspend new certifications to the Department of State for taxpayers who are "seriously delinquent" during this period.

In addition to these items, the IRS estimates that over 1 million people who have not field returns in the last 3 years are actually due refunds. If you have not filed a return, please get in touch with TFX asap.

Ines Zemelman, EA
founder of Taxes for Expats