- 10 -
An offer in compromise must be submitted on special forms
prescribed by the Secretary. Laurins v. Commissioner, supra at
912; Riederich v. Commissioner, 985 F.2d 574 (9th Cir. 1993),
affg. without published opinion T.C. Memo. 1991-164. Section
601.203(b), Statement of Procedural Rules, identifies Form 656 as
the form required for an offer in compromise. Petitioner
admittedly did not submit a Form 656 or otherwise describe his
income, assets, and other financial information required by Form
656 to respondent.
b. Installment Agreement
The Court assumes, arguendo that petitioner intended that
his offer to make monthly payments would be treated by respondent
as an installment agreement. An installment agreement
contemplates payment in full of an amount acknowledged as owed
and is based on the taxpayer's current financial condition. See
sec. 6159; sec. 301.6159-1, Proced. & Admin. Regs.; 2
Administration, Internal Revenue Manual (CCH), sec. 5.19.1.5.4.1
at 18,299-65; Form 433-D, Installment Agreement; see also Crisan
v. Commissioner, supra; Martin v. Commissioner, T.C. Memo. 2003-
288.
Respondent's determination was based on information provided
by petitioner and Mrs. Nicol to the Appeals officer which
reflected petitioner's and Mrs. Nicol's current financial
condition. See Crisan v. Commissioner, supra; Schulman v.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Next
Last modified: May 25, 2011