- 4 -
officer advised petitioners that the cumulative liability could
not be classified as currently not collectible. The settlement
officer then suggested to petitioner that petitioners submit an
offer in compromise in the amount of $180 per month for 116
months. Under this suggested offer in compromise, respondent
would consider compromising the cumulative liability for a total
payment by petitioners of $20,880.
On or about September 5, 2001, petitioners submitted on the
appropriate form the above offer in compromise as proposed by
respondent’s settlement officer. On September 18, 2001, the
settlement officer wrote to petitioners indicating that
verification of the financial information petitioners had
submitted was required before petitioners’ offer in compromise
could be reviewed and approved.
During the settlement officer’s verification of petitioners’
financial information, certain real estate was identified which
had not been previously disclosed to respondent.3 Petitioners’
mobile home in which they resided was located on the real estate.
In 1996, the real estate had been purchased in petitioners’
names, using a cashier’s check in the amount of $8,750 as part of
a $9,000 downpayment toward the $35,000 total purchase price. In
1998, nominal title to this real estate was transferred by
3 The information that petitioners had submitted up until
that time indicated that petitioners paid rent for the “land” on
which the mobile home in which they resided was located.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 Next
Last modified: May 25, 2011