Form Oic-1 - Offer In Compromise Page 3

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SECTION 8
By submitting this offer, I/we have read, understand and agree to the following conditions:
representative. I/We may not designate an overpayment
(a) I/We voluntarily submit all tax payments made on this
ordinarily subject to refund, to which the Department is
offer. These tax payments are not refundable even if I/we
entitled, to be applied to estimated tax payments for the
withdraw the offer prior to acceptance or the Georgia
following year.
Department of Revenue (“Department”) returns or rejects the
offer. If the offer is accepted, the Department will apply
(i) I/We will return to the Department any refund identified in
payments made after acceptance in the best interest of the
paragraph (h) received after submission of this offer.
government.
(j) I/We understand that I/we remain responsible for the full
(b) Any payments made in connection with this offer will be
amount of the liabilities, unless and until the Department
applied to the tax liability.
accepts the offer in writing and I/we have met all the terms
and conditions of the offer. The Department will not remove
(c) The $100 nonrefundable application fee shall be treated
the original amount of the liabilities from its records until I/we
as part of the offer if the offer is accepted by the Department.
have met all the terms and conditions of the offer. I/we
understand that the liabilities I/we offer to compromise are
(d) The offer becomes officially acknowledged once written
and will remain liabilities until I/we meet all the terms and
notification of receipt has been made by an authorized
conditions of this offer. If I/we file for bankruptcy before the
Department official. The offer remains pending until an
terms and conditions of this offer are completed, any claim
authorized
Department
official
issues
notification
of
the Department files in the bankruptcy proceedings will be a
acceptance or rejection, or until the offer is withdrawn by
tax claim.
me/us.
(k) Once the Department accepts the offer in writing, I/we
(e) I/we understand that after an offer is determined to be
have no right to contest, in court or otherwise, the amount of
complete and submitted for processing, the Department will
the liability.
not act to collect the tax liability while the Department
(l) If I/we fail to meet any of the terms and conditions of the
considers and evaluates my/our offer. However, I/we also
offer and the offer defaults, the Department may:
understand that the Department will not suspend collection
if the Department determines that I/we submitted my/our offer
• issue and record a tax execution, if applicable, regarding
to delay collection or cause a delay that will jeopardize the
all tax liabilities identified in Section 2 of this application;
Department’s ability to collect the tax.
• initiate all appropriate enforced collection activity,
including levy and garnishment, to collect any outstanding
(f) I/We will comply with all provisions of the Georgia Public
tax liabilities identified in Section 2 of this application
Revenue Code relating to filing my/our returns and paying
without further notice of any kind;
my/our required taxes for 5 years or until the offered amount
is paid in full, whichever is longer. In the case of a jointly
• disregard the offer amount and apply all amounts already
submitted Offer in Compromise of joint liabilities, I/we
paid under the offer against the original amount of the
understand that default with respect to the compliance
liability.
provisions described in this paragraph by one party to this
agreement will not result in the default of the entire
(m) The Department will continue to add interest on the
agreement. The default provisions described in Section 8(l) of
amount the Department determines is due after default. The
this agreement will be applied only to the party failing to
interest will continue to accrue until I/we completely satisfy the
comply with the requirements of this paragraph.
amount owed.
(g) I/We waive and agree to the suspension of any statutory
(n) The Department generally files a state tax execution to
periods of limitation (time limits provided by law) for the
protect the Government’s interest on offers with deferred
Department assessment of the liability for the periods
payments involving sales tax and withholding tax liabilities.
identified in Section 2. I/We understand that I/we have the
Also, the Department may file a state tax execution during the
right not to waive these statutory periods or to limit the waiver
offer investigation. This state tax execution will be released
to a certain length or to certain periods. I/we understand,
when the payment terms of the offer agreement have been
however, that the Department may not consider this offer if
satisfied.
I/we refuse to waive the statutory periods for assessment or if
we provide only a limited waiver. The amount of any tax due
(o) I/We understand that Department employees may contact
the State of Georgia for the periods described in Section 2
third parties in order to respond to this request and I/we
may be assessed at any time prior to the acceptance of this
authorize the Department to make such contacts. Further, by
offer.
authorizing the Department to contact third parties, I/we
understand that I/we will not receive notice of third parties
(h) The Department will keep all payments and credits made,
contacted in connection with this request.
received or applied to the total original liability before
submission of this offer.
The Department may keep any
(p) I/We are offering to compromise all the liabilities assessed
proceeds from a levy or garnishment served prior to
against me/us as of the date of this offer and under the
submission of the offer but not received at the time the offer is
taxpayer identification numbers listed in Section 2 above.
submitted. As additional consideration beyond the amount of
I/We authorize the Department to amend Section 2 to include
my/our offer, the Department will keep any refund, including
any assessed liabilities we failed to list on Form OIC-1.
interest, due to me/us because of overpayment of any tax or
other liability, for tax periods extending through the calendar
(q) If a Short Term Deferred Payment Offer is selected under
year in which the Department accepts the offer. The date of
Section 4 of this application, I authorize the Georgia
acceptance is the date on the written notice of acceptance
Department of Revenue and its designated financial agent to
issued
by
the
Department
to
me/us
or
to
my/our
OIC-1
Page 3

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