- 6 - The Appeals officer considered petitioners’ challenge to the appropriateness of the NFTL, noting that petitioners requested that the NFTL be withdrawn and not reinstated unless they defaulted on their installment agreement. They were concerned about the negative effect the NFTL might have on their credit rating and the impact it might have on their ability to secure college loans for their son. The Appeals officer concluded that petitioners’ reasons for withdrawal did not satisfy the conditions authorizing withdrawal. The NFTL’s filing was not premature because “[an] overpayment or [other] credit was not available” and the NFTL could be maintained in conjunction with the installment agreement without hindering collection of the liability. See sec. 6323(j); sec. 301.6323(j)-1(b), Proced. & Admin. Regs. The Appeals officer also considered petitioners’ prior submission of a collection alternative. The record shows that an OIC had been submitted and was determined to be unacceptable. Petitioners did not meet the criteria for an OIC because they had the ability to pay the liability in full. The Commissioner had also determined that petitioners could obtain an installment agreement that would pay the liability in full within the time prescribed by section 6502(a) and would not impose a financial hardship on petitioners. Cf. secs. 301.6343-1(b)(4), 301.7122- 1(b) and (c), Proced. & Admin. Regs.Page: Previous 1 2 3 4 5 6 7 8 9 10 NextLast modified: March 27, 2008