12153 Form 2020-2024

12153 Form: What You Should Know

Under the Internal Revenue Code, the SO for your case is the IRS Office of Appeals. It is possible for the SO to rule on your request or deny your request. If the SO denies your request, you may appeal the SO's decision to the IRS Office of Appeals on the Internal Revenue Appeals (IRAs). What Is a Settlement? This is the final administrative step to get a refund from the IRS. If the Settlement Agent Rules in Your Favor, it is considered a “No-Lien” ruling (not a lien.) In other words, you could have your money back today. You should be aware that a Settlement Agreement (Settlement) means that the IRS no longer has any authority, obligation, or power to collect the amount of your penalty plus interest. It ends your obligation to the IRS. If the Sued Under the Taxpayer Protections Act, the Sued may also have to pay attorney's fees to the IRS. Some Sued Under The Treasury Department's Taxpayer Protection Programs have certain limits on damages and attorney's fees, as well as the amount of interest and other penalties that the Treasury Department pays. These protections have been set through the Taxpayer Protection Agreements (TPAs) between the Treasury Department and affected taxpayers. A settlement is the only way to resolve a tax debt, and therefore, the only way to get your money back. However, no matter how bad the tax debt may seem or how long it has been accumulated, it is usually best to settle before pursuing an appeal or a court battle. This is often the best way to avoid further time, stress, and expense that you could be spending on the issue. If the IRS decides to sue you for the debt under CPA § 301, you may be able to have the IRS send you a Notice of Examination. If you do not respond to the notice, you will have to serve it personally to the Sued and may face the possibility of criminal contempt charges.

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