Fillable Form Oic-1s - Offer In Compromise - Short Form - State Of Georgia (Page 2 of 3) in pdf

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SECTION 6

Source of Funds

I/We shall obtain the funds to make this offer from the following source(s):

SECTION 7

Explanation of Circumstances

I/we request an Offer in Compromise for the reason(s) listed below:

NOTE: Explain your situation if you believe the tax is incorrect or if you have special circumstances affecting your ability to fully pay the amount due. You

may attach additional sheets if necessary.

SECTION 8

By submitting this offer, I/we have read, understand and agree to the following conditions:

Section 2. I/We understand that I/we have the right not to waive

(a) I/We voluntarily submit all tax payments made on this offer.

these statutory periods or to limit the waiver to a certain length or

These tax payments are not refundable even if I/we withdraw the

to certain periods. I/we understand, however, that the Department

offer prior to acceptance or the Georgia Department of Revenue

may not consider this offer if I/we refuse to waive the statutory

(“Department”) returns or rejects the offer. If the offer is accepted,

periods for assessment or if we provide only a limited waiver. The

the Department will apply payments made after acceptance in the

amount of any tax due the State of Georgia for the periods

best interest of the government.

described in Section 2 may be assessed at any time prior to the

acceptance of this offer.

(b) Any payments made in connection with this offer will be

applied to the tax liability.

(h) The Department will keep all payments and credits made,

received or applied to the total original liability before submission

of this offer. The Department may keep any proceeds from a levy

part of the offer if the offer is accepted by the Department.

or garnishment served prior to submission of the offer but not

received at the time the offer is submitted.

As additional

(d) The offer becomes officially acknowledged once written

consideration beyond the amount of my/our offer, the Department

notification of receipt has been made by an authorized

will (i) keep any unclaimed property held by the Department at

Department official. The offer remains pending until an authorized

the time the Department accepts the offer and (ii) keep any

Department official issues notification of acceptance or rejection,

refund, including interest, due to me/us because of overpayment

or until the offer is withdrawn by me/us.

of any tax or other liability, for tax periods extending through the

(e) I/we understand that after an offer is determined to be

calendar year in which the Department accepts the offer. The

complete and submitted for processing, the Department will not

date of acceptance is the date on the written notice of acceptance

act to collect the tax liability while the Department considers and

issued by the Department to me/us or to my/our representative.

evaluates my/our offer. However, I/we also understand that the

I/We may not designate an overpayment ordinarily subject to

Department will not suspend collection if the Department

refund, to which the Department is entitled, to be applied to

determines that I/we submitted my/our offer to delay collection or

estimated tax payments for the following year.

cause a delay that will jeopardize the Department’s ability to

collect the tax.

(i) I/We will return to the Department any refund identified in

paragraph (h) received after submission of this offer.

(f) I/We will comply with all provisions of the Georgia Public

Revenue Code relating to filing my/our returns and paying my/our

(j)

I/We understand that I/we remain responsible for the full

required taxes for 5 years or until the offered amount is paid in

amount of the liabilities, unless and until the Department accepts

full, whichever is longer. In the case of a jointly submitted offer in

the offer in writing and I/we have met all the terms and conditions

compromise of joint liabilities, I/we understand that default with

of the offer. The Department will not remove the original amount

respect to the compliance provisions described in this paragraph

of the liabilities from its records until I/we have met all the terms

by one party to this agreement will not result in the default of the

and conditions of the offer. I/we understand that the liabilities I/we

entire agreement. The default provisions described in Section 8(l)

offer to compromise are and will remain liabilities until I/we meet

of this agreement will be applied only to the party failing to

all the terms and conditions of this offer. If I/we file for bankruptcy

comply with the requirements of this paragraph.

before the terms and conditions of this offer are completed, any

claim the Department files in the bankruptcy proceedings will be a

(g) I/We waive and agree to the suspension of any statutory

tax claim.

periods of limitation (time limits provided by law) for the

Department assessment of the liability for the periods identified in

(k) Once the Department accepts the offer in writing, I/we have no

Georgia Department of Revenue

page 2

Form OIC-1S

Form Oic-1s - Offer In Compromise - Short Form - State Of Georgia Page 2

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