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expiration of the latest period of limitation on collection
applicable to petitioners' unpaid tax liabilities. The offer
specialist therefore concluded that petitioners had a reasonable
collection potential of $207,567, consisting of net realizable
equity of $41,600 and future income of $165,967 ($2,813 per month
for 59 months). The offer specialist's notes indicate that she
considered Mr. Lemann's claim that he was 60 and might not work 4
more years and, noting that he had identified no health or other
reasons why he would become unemployed, concluded that there were
no special circumstances that would warrant a departure from the
IRM guidelines in determining petitioners' reasonable collection
potential, as required under section 7122(c)(2)(B). See sec.
301.7122-1(c)(3), Proced. & Admin. Regs.; IRM, secs. 5.8.5.4
(Nov. 2000), 5.8.11.2.1 (Nov. 2001).
Petitioners' Arguments
With respect to the net realizable equity found by the offer
specialist, petitioners make averments in the petition to the
effect that they were unable to borrow and were
"undercreditworthy". We assume for purposes of the pending
motion that they made a similar claim in connection with the
section 6330 hearing, including a claim that they were unable to
borrow against the equity in their residence (which equity
constitutes the net realizable equity found by the Appeals
officer). Given that petitioners had previously offered to make
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