- 6 - installment agreement. 2 Administration, Internal Revenue Manual (CCH), sec. 5.14.1.2(9)(e), at 17,504. The Appeals officer determined that petitioner was noncompliant with his current tax obligations, having failed to fully pay his 2003 taxes and to make estimated tax payments for tax year 2004. Petitioner does not dispute that he was not current with his tax filing and payment requirements but contends that he “was in the process of completing his then current year[’]s return and * * * substantial strides had been made toward bringing the Petitioner into complete compliance with the law.” Inasmuch as petitioner admits that he was not compliant with his current tax obligations, the Appeals officer did not abuse his discretion in concluding that petitioner was ineligible for an installment agreement. In rejecting petitioner’s installment agreement offer, the Appeals officer also determined that petitioner could afford to fully pay his tax liabilities by borrowing against his 50-percent interest in the real estate. Petitioner contends that this determination was in error.3 This contention is moot in light of our conclusion that the Appeals officer properly exercised his 3 Petitioner contends that the Appeals officer erred in determining the value of petitioner’s 50-percent real estate interest (notwithstanding that the Appeals officer used the identical value that petitioner had listed on his Form 433-A) and in failing to consider the effect of petitioner’s joint ownership of the real estate with his brother and the effect that respondent’s lien would have on his ability to borrow against the real estate.Page: Previous 1 2 3 4 5 6 7 8 Next
Last modified: May 25, 2011